According to a report on July 8th, a criminal complaint was filed by three organizations to Swiss federal prosecutors, accusing UBS of failing to perform due diligence in relation to funds obtained by a partner of former Congolese President Joseph Kabila.
The Swiss campaign group Public Eye followed another two groups in suing the largest Swiss bank, stating it may have failed due diligence to review transaction. UBS rejected to comment on this.
The Swaziland’s Attorney-General Office received a criminal complaint involving a total of 19 million dollars transactions. Multiple transactions were wired to the accused partners’ accounts at UBS in Zurich and Geneva in 2012 and 2013.Attorney for former Congolese President Kabila did not immediately reply to queries by phone and text message.
Someone named by Public Eye via LinkedIn also did not immediately reply to comments. The Swaziland’s Attorney-General Office has confirmed it received the criminal indictment. A spokesman stated in an e-mail, “The criminal complaint will now be examined in accordance with the usual procedure.” In the light of the situation of the criminal complaint, the Attorney General Office may decide to launch criminal proceedings and refer it to the regional attorney, or it may judge that prosecution is not necessary.
Swiss financial markets regulatory agency FINMA said it learned the case and had been in touch with UBS on the matter. FINMA refused to further comment on the details.