German prosecutors investigating Swiss bank

UBS says its reviews have not found any evidence of misconduct by the bank.

Arnd Wiegmann/Reuters

UBS says its reviews have not found any evidence of misconduct by the bank.

BERLIN — German prosecutors said they are investigating employees of the Swiss bank UBS’s German subsidiary on suspicion they may have helped customers evade local taxes.

Mannheim prosecutors’ spokesman Peter Lintz told the dapd news agency Thursday that the investigation was opened in March, after authorities learned that funds may have been moved through an internal account from Germany to Switzerland.


In a statement, UBS said it is cooperating with the authorities and that its internal investigations of the allegations ‘‘have not revealed any indication of misconduct on the part of UBS Deutschland AG.’’

Authorities are also investigating the customers allegedly involved. They raided bank offices in May and seized records that are still being evaluated.

Associated Press

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