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Credit Suisse collapsed in March 2023 after a series of scandals and setbacks, and was taken over by UBS. UBS welcomed the ruling, noting that the case was a legacy matter relating to Credit Suisse.
A top Swiss court on Wednesday acquitted Credit Suisse, now part of UBS UBS-N, of failing to prevent money laundering by a Bulgarian cocaine trafficking gang, overturning a 2022 conviction.
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