A Dutch court this week ordered a criminal investigation into UBS CEO Ralph Hamers for his role in the ING money laundering scandal that occurred during his tenure as the latter financial institution’s leader.
The Hague Court of Appeal on Wednesday called for the probe. “The facts are serious, no settlement was reached with the director himself, nor has he taken public responsibility for his actions,” the court said in a statement. “The court considers it important that in a public criminal trial the standard is confirmed that directors of a bank do not go unpunished if they have actually led serious prohibited behavior.”
