UBS acquitted on appeal in Credit Suisse cocaine trial
Swiss banking giant UBS, which took over its rival Credit Suisse last year, has been acquitted on appeal in a high-profile money laundering trial, Switzerland's Federal Criminal Court said Wednesday. A pillar of Swiss banking and the second-largest Swiss bank at the time, Credit Suisse in 2022 was slapped with a $2 million fine in a money laundering case linked to a Bulgarian cocaine network.