Legal
Edmond De Rothschild's Swiss Business Probed By French Authorities
The wealth management firm is being investigated by France over allegations about the actions of a former employee.
The Swiss unit of Edmond de Rothschild is the focus of
an investigation by the French authorities over a former
business relationship managed by an ex-employee.
“Edmond de Rothschild (Suisse) SA is actively participating in
the criminal investigation under way,” the Geneva-based bank said
in a statement last week. “The bank denies all the
allegations that have been made against it.”
The company made no further comment.
Last December, this publication reported that Edmond de
Rothschild (Suisse) and Edmond de Rothschild (Lugano)
(collectively EdR Switzerland) reached a joint resolution under
the US Department of Justice's Swiss Bank Program in connection
with undeclared US-related accounts, joining a host of other
Switzerland-based financial groups signing such deals with US
authorities. EdR Switzerland will pay a penalty of more than $45
million.