A case against UBS Banking Group, triggered by a complaint under criminal law by the Bruno Manser Fund (BMF), a Swiss human rights and environmental organisation, may see it facing money laundering charges and a heavy penalty.
The bank has been accused of laundering USD 90 million in corruption proceeds from the Borneo timber trade on behalf of Sabah Chief Minister Musa Aman.
Once a technical matter was settled, UBS may be facing the music, said a BMF statement. “A final ruling by the Swiss Federal Court was expected soon.“
The Attorney-General of Switzerland has appealed a decision by the Berner Zwangsmassnahmengericht court which ruled that a confiscated risk assessment by the bank on UBS’ ties with Musa may not be unsealed and may not be used as evidence in a money laundering case against the bank.