While the foundation launched in New York, the international legal ramifications of the trial reached a dramatic climax in Europe. In Zurich, the Swiss Federal Office of Justice announced that four senior compliance directors at Banque Privée Valmont had been formally indicted on charges of aggravated money laundering and forgery. The bank agreed to pay a record seventy-million-franc criminal fine and surrender its offshore private wealth license. Simultaneously, in the…
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