Zurich (Reuters) – The case between Julius Baer and a Lithuanian company was brought to a court in Geneva. On Friday, the Swiss wealth manager said that the case had been settled for 105 million euros ($109.79 million).
“The claim was about how two executives at a Lithuanian company are said to have used the financial system to steal money from the company for more than ten years,” Julius Baer said in a statement.
“Julius Baer will use money that was already set aside to pay for about half of the EUR 105 million settlement.” The rest will be taken out of the finances for the first half of 2022. “
($1 = 0.9564 euros)
