Credit Suisse Money-Laundering Case Faces Ax in Boost to UBS

UBS Group AG is set to dodge one of the long list of legal problems it inherited from its takeover of Credit Suisse, as Geneva’s top financial-crimes prosecutor prepares to shut down a money-laundering probe targeting the failed bank.

Just a year after saying there were grounds for indicting Credit Suisse in a case related to a rogue banker, Yves Bertossa last month informed the parties he now plans to drop the investigation, according to people familiar with the matter who spoke on condition of anonymity.