Bloomberg: US explores ties between Credit Suisse and UBS banks with Russian clients

The US Department of Justice is checking a number of banks for help “Russian oligarchs” to circumvent sanctions, reports Bloomberg with reference to sources. According to them, Swiss Credit Suisse and UBS are among the credit institutions.

The agency writes that the mentioned banks were included in the list of institutions to which the ministry sent subpoenas as part of the ongoing investigation. It is alleged that they were also sent to employees of some major US banks. What exactly is unknown.

According to one of the sources, the Ministry of Justice wants to identify bank employees who dealt with clients under sanctions. The agency intends to find out how these clients have been checked over the past few years, and whether laws have been violated.

Credit Suisse declined to comment, UBS did not respond to a request from the agency.

The US Department of Justice in 2022 created a division that is engaged in identifying and freezing the property of Russian businessmen, allegedly acquired illegally. It was called KleptoCapture Task Force and, in particular, has already involved to an investigation by the US Attorney’s Office concerning the legality of transactions of the largest auction houses that sold paintings to billionaires from Russia and Ukraine.

In March, Credit Suisse was urgently sold another Swiss bank – UBS – due to long-term problemswhich aggravated in recent months. According to CNBC, Credit Suisse bondholders cook lawsuit against the bank.

About the problems of the bank – in the material “Kommersant FM” “Credit Suisse ruined the mood”.

Laura Keffer