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Swiss Court Seeks $45 Million in Credit Suisse Laundering Case

  • Bank accused of not taking reasonable steps to screen money
  • The three-week trial is scheduled to begin in February

Swiss federal prosecutors are seeking more than 42 million francs ($45 million) in compensation from Credit Suisse Group AG, stemming from a 14-year investigation into the lender’s alleged failure to prevent money laundering by a Bulgarian drug ring.

Switzerland’s federal criminal court unveiled the charges in a 500-page document that alleged the bank suffered from “serious organizational shortcomings” in preventing money laundering, according to a report published Sunday by SonntagsZeitung.