Another day, another dismal development for the 2nd largest (but most damned) Swiss bank. On Monday, Credit Suisse Group was convicted of failing to prevent money laundering by a Bulgarian cocaine trafficker, in the first ever criminal conviction of a major Swiss bank in the country’s history. The verdict, in which a former relationship manager at the bank was also convicted on money laundering charges, was handed down by Switzerland’s top criminal court on Monday afternoon.
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