will now have the possibility to respond in detail in a court of
law," UBS said in an emailed statement on Monday. "UBS has made
clear that the bank disagrees with the allegations, assumptions
and legal interpretations being made."
A spokesman for UBS said the bank could not comment on the date
of the trial.
French magistrates have ordered that UBS stand trial for
aggravated tax fraud and money laundering as well as illegally
offering related services, a judicial source said.
Magistrates were expected this week to order a trial in the
case, Reuters reported on Sunday, after negotiations failed to
produce a settlement in the long-running probe into allegations
UBS helped clients avoid taxes.
French newspaper JDD said UBS had rejected a 1.1 billion euro
($1.18 billion) settlement proposed by prosecutors.
The JDD quoted Markus Diethelm, UBS's group general counsel, as
saying a 1.1 billion euro payment was "unthinkable" and out of
line with similar settlements reached in other countries.
UBS settled a tax case with German authorities in 2014 for
around 300 million euros.
($1 = 0.9301 euros)
(Reporting by Joshua Franklin in Zurich and Laurence Frost in
Paris; Editing by Michael Shields and Alexander Smith)
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