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Swiss banking giant UBS fined more than $5 billion in fraud case

Swiss banking giant UBS fined more than $5 billion in fraud case

CNN - By Charles Riley, CNN Business

London (CNN Business) — UBS faces a massive financial penalty in France after a court there ruled that the Swiss bank helped its wealthy clients avoid taxes. The court delivered its verdict in Paris on Wednesday, ordering the bank to pay €4.5 billion ($5.1 billion) and finding it guilty of money …

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