Criminal complaint filed against UBS over DRC-linked funds
ZURICH (Reuters) -Three organisations have filed a prison criticism to federal prosecutors in Switzerland, alleging a failure to train due diligence at UBS in relation to funds they are saying have been obtained by an alleged affiliate of former Congolese president Joseph Kabila.
The criticism, filed by Swiss marketing campaign group Public Eye, alongside two different teams, pertains to a potential failure to train due diligence relating to monetary transactions throughout the largest Swiss financial institution.
UBS declined to remark.
The prison criticism, filed to Switzerland’s Workplace of the Lawyer Common, centres on transactions totalling $19 million they are saying have been despatched to the alleged affiliate’s UBS accounts in Zurich and Geneva in 2012 and 2013.
An legal professional for Kabila didn’t instantly reply to requests for remark by phone and textual content message.
The person named by Public Eye additionally didn’t instantly reply to a request for remark despatched through LinkedIn.
The Workplace of the Lawyer Common confirmed it had obtained the prison criticism.
“The prison criticism will now be examined in accordance with the same old process,” a spokesperson stated in an emailed assertion.
Based mostly on the submitting, the legal professional normal’s workplace might determine to open prison proceedings, assign such proceedings to regional prosecutors or decide that no proceedings are needed.
Swiss monetary market supervisor FINMA stated it was conscious of the case and was involved with UBS relating to it. It declined to touch upon additional particulars.
(Reporting by Brenna Hughes Neghaiwi in Zurich; further reporting by Fiston Mahamba in Goma; modifying by David Evans and Louise Heavens)
