March 22, 2018 / 10:05 AM / a year ago

Julius Baer suspends employee amid probe of arms deals

ZURICH, March 22 (Reuters) - Swiss private bank Julius Baer on Thursday said it has suspended an employee after Swiss federal prosecutors launched an investigation into arms deals by the country’s state-owned weapons maker RUAG.

The Handelszeitung paper said a Julius Baer banker in Russia was also involved in the case.

“We have taken note of the allegations and are currently looking into them,” a spokeswoman said. “The employee in question will be suspended during the investigation.” (Reporting by John Revill; Editing by Michael Shields)

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