Credit Suisse has rejected the verdict and plans to appeal Switzerland’s second largest bank, Credit Suisse, was found guilty and fined for failing to detect a money-laundering scheme involving a drug cartel, Reuters reported on Monday. According to the report, a former employee of the bank accepted some 146 million Swiss francs ($152 million) in bank deposits between 2004 and 2008 from a Bulgarian cocaine smuggling ring, while concealing the criminal origins of the funds. Switzerland’s Federal Criminal Court said on Monday that Credit Suisse had failed to both detect the scheme and implement anti-money laundering
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