Swiss bank employee arrested in data theft case




It was not clear if the arrested bank employee is suspected to have directly passed data to German authorities.

Last year, Julius Baer paid (EURO)50 million (then $72.5 million) to avoid prosecution as part of a deal with German tax authorities.

Julius Baer recently agreed to pay 860 million francs ($879 million) to buy Merrill Lynch's wealth management operations outside the United States.

The Associated Press


