Julius Baer settles Lithuanian-linked case for 105 mln euros

World10:0801 July, 2022

Julius Baer has settled a case filed to a Geneva court in relation a Lithuanian corporation

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Julius Baer has settled a case filed to a Geneva court in relation a Lithuanian corporation for $109.79 million, Qazet.az reports according to the Swiss wealth manager .

"The claim related to the alleged use of the financial system for the embezzlement of assets at a Lithuanian corporation by two of its executives – matters dating back more than ten years," Julius Baer said in a statement.

"Julius Baer will cover approximately half of the settlement of EUR 105 million with existing provisions. The remainder will be charged against the 2022 first half-year financial results."