A former Credit Suisse banker testifying in a cocaine money laundering trial on Wednesday said she had followed the instructions of her bosses in doing business with associates of a Bulgarian customer after he was shot dead in Sofia.
Register now for FREE unlimited access to Reuters.comCredit Suisse has rejected all the allegations and said it is convinced its former employee is innocent and it plans to "defend itself vigorously in court."
On Wednesday, judges quizzed the former banker, asking how the bank had responded after a customer involved in the alleged gang was shot dead as he left a restaurant with his wife in Sofia, Bulgaria in 2005. Swiss prosecutors allege that the country's second-largest bank and the former relationship manager did not do enough to prevent the alleged drug traffickers from hiding and laundering cash between 2004 and 2008, despite indications the funds could be of criminal origin.
Although some of the activity happened too long ago to prosecute under Swiss law, the presiding judge has decided that anything since Feb 7, 2007 could be considered for the trial. On Wednesday, the former employee said the bank had done all it could to verify the legitimacy of the customers' money by going to Bulgaria and visiting offices and real estate projects.
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