A top Swiss court on Wednesday acquitted Credit Suisse, now part of UBS, of failing to prevent money laundering by a Bulgarian cocaine trafficking gang, overturning a 2022 conviction.
The Federal Criminal Court’s original ruling was seen as a test case for the prosecution of banks.
It had found an ex-employee of the bank guilty of money-laundering, and Credit Suisse of failing to do enoughtostop thegang from laundering profits through thelender from2004 to 2008.
The former employee died in April 2023; her heirs and the bank filed an appeal that November.
In a statement, the federal court’s appeals chamber said that, because the woman had died, it was not possible to examine the alleged violation of the criminal code without violating the presumption of innocence in her case.
“For this reason, the bank was acquitted and the compensation demand imposed on it was canceled,” it said.
In 2022, Credit Suisse had been fined 2 million Swiss francs ($2.3 million).
The court at the time also ordered the confiscation of assets worth more than 12 million francs that the gang held in Credit Suisse accounts, and told the bank to pay compensation of over 19 million francs — the value of the gang’s assets that could not be confiscated due to deficiencies at the bank.
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.
“Subject to an appeal by the Swiss federal attorney general’s office, the verdict brings this legal issue to a close,” UBS said in a statement.
The attorney general’s office said it would analyze the findings and then decide on appropriate action.($1 = 0.8832 Swiss francs)
A major milestone in spaceflight was reached by SpaceX on Wednesday (November 27) with the successful launch of 24 Starlinksatellites aboard a Falcon 9 rocket. The mission, conducted from NASA’s Kennedy Space Centre in Florida, began at 11:41 pm EST (10:11 am IST, November 28) and marked the Falcon 9’s 400th successful mission since its debut in 2010. The satellites were deployed into low Earth orbit approximately 65 minutes after launch, according to SpaceX’s announcements on X (formerly known as Twitter).
Booster Recovery Highlights Reusability
The first stage of the Falcon 9 returned to Earth approximately eight minutes post-liftoff, landing on the droneship A Shortfall of Gravitas stationed in the Atlantic Ocean. This achievement represented the 375th successful recovery of a Falcon first stage.
Details shared in a mission description confirmed that the booster used in this launch had completed 15 flights, 11 of which were dedicated to Starlink deployments.
Starlink Network Expansion Intensifies
Reports indicate that SpaceX has launched 117 Falcon 9 missions in 2024 alone, with 81 focused on expanding the Starlink satellite constellation. Five such missions have taken place within the past eight days, underlining the company’s accelerated efforts to build out the Starlink network. Astrophysicist and satellite tracker Jonathan McDowell has estimated that nearly 6,700 Starlink satellites are currently active in orbit.
Context and Future Prospects
The Starlink network, the largest satellite constellation in history, is being developed to provide global internet coverage. These launches demonstrate the scalability of SpaceX’s reusable rocket technology, which has significantly reduced the cost of accessing space. Falcon 9 has become a cornerstone of SpaceX’s operations, with each successful mission reinforcing its position as a reliable workhorse for orbital payload delivery. The milestone further cements Falcon 9’s pivotal role in modern space exploration and satellite deployment.
MasterChef host Gregg Wallace has stepped down over allegations he made a series of inappropriate sexual comments on a range of programmes over 17 years.
Broadcaster Kirsty Wark is among 13 people who have made claims, with Wallace being investigated by MasterChef’s production company Banijay UK.
In an interview with the BBC, the Newsnight presenter, who was a celebrity contestant on MasterChef in 2011, claimed Wallace used “sexualised language”.
“There were two occasions in particular where he used sexualised language in front of a number of people and it wasn’t as if it was anyone engaged with this,” Wark said.
“It was completely one-way traffic. I think people were uncomfortable and something that I really didn’t expect to happen.”
Sky News has contacted Wallace’s representative for comment.
‘Fully cooperating’
Banijay UK said the complaints were made to the BBC this week by “individuals in relation to historical allegations of misconduct while working with Gregg Wallace on one of our shows”.
The company said the 60-year-old, who has been a co-presenter and judge of the popular cooking show since 2005, was “committed to fully cooperating throughout the process”.
“Whilst these complainants have not raised the allegations directly with our show producers or parent company Banijay UK, we feel that it is appropriate to conduct an immediate, external review to fully and impartially investigate,” the company said.
“While this review is under way, Gregg Wallace will be stepping away from his role on MasterChef and is committed to fully co-operating throughout the process.
“Banijay UK’s duty of care to staff is always a priority and our expectations regarding behaviour are made clear to both cast and crew on all productions, with multiple ways of raising concerns, including anonymously, clearly promoted on set.
“Whilst these are historical allegations, incidences brought to our attention where these expectations are not met, are thoroughly investigated and addressed appropriately.”
A BBC spokesman said: “We take any issues that are raised with us seriously and we have robust processes in place to deal with them.
“We are always clear that any behaviour which falls below the standards expected by the BBC will not be tolerated.
“Where an individual is contracted directly by an external production company we share any complaints or concerns with that company and we will always support them when addressing them.”
Previous investigation
Last month, Wallace responded to reports that a previous BBC review had found he could continue working at the corporation following reports of an alleged incident in 2018 when he appeared on Impossible Celebrities.
Wallace said those claims had been investigated “promptly” at the time and said he had not said “anything sexual” while appearing on the game show more than half a decade ago.
In an Instagram post following an article in The Sun newspaper, he wrote: “The story that’s hitting the newspapers was investigated promptly when it happened six years ago by the BBC.
“And the outcome of that was that I hadn’t said anything sexual. I’ll need to repeat this again. I didn’t say anything sexual.”
Alongside MasterChef, Wallace presented Inside The Factory for BBC Two from 2015.
Wallace has featured on various BBC shows over the years, including Saturday Kitchen, Eat Well For Less, Supermarket Secrets, Celebrity MasterChef and MasterChef: The Professionals, as well as being a Strictly Come Dancing contestant in 2014.
He was made an MBE for services to food and charity last year.
Recorded episodes of MasterChef: The Professionals featuring Wallace will be transmitted as planned, the PA news agency understands.
The Scottish government has announced that all pensioners in Scotland will receive a winter fuel payment in 2025/26.
The devolved benefit is expected to come into force by next winter and will help the estimated 900,000 people north of the border who were cut off from accessing the winter fuel payment which used to be universal.
Social Justice Secretary Shirley-Anne Somerville announced the news in a statement to the Scottish parliament on Thursday.
It comes after both the UK and Scottish governments earlier this year axed the universal winter fuel payment, except for those in receipt of pension credit or other means-tested benefits.
At Westminster, Chancellor Rachel Reeves claimed the decision was made due to financial woes inherited from the previous Conservative government.
Ms Reeves said the restriction would save the Treasury around £1.4bn this financial year.
The decision led to the Scottish government – which was due to take control over a similar payment through the devolved Social Security Scotland but has since announced a delay – to follow suit.
More on Benefits
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The payment is a devolved matter in Scotland and Northern Ireland, however the SNP government said Labour’s approach would cause up to a £160m cut to Scottish funding in 2024-25.
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