"Europe court upholds French bond for UBS in tax fraud case", 12 Jan 2017

The European Court of Human Rights on Thursday rejected a challenge by Swiss bank UBS to a 1.1 billion euro ($1.24 billion) bond set by French judges over a wide-ranging tax fraud case.

UBS had argued before the ECHR that the record-setting bond, a guarantee against an eventual fine upon conviction, violated its right to the presumption of innocence.

But the court, which normally hears complaints from individuals, ruled that the bond was "an interim measure which did not prejudge the outcome of the proceedings,"...

It said its ruling was unanimous and "final" against UBS and its French subsidiary UBS France, which face charges of orchestrating a vast system of tax fraud in France...