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LGT Group to sue over leak of bank customers' details

LGT Group to sue over leak of bank customers' details

The Liechtenstein bank at the center of a tax evasion dispute with Germany said yesterday it will sue the person it suspects of selling confidential information to German intelligence.
LGT Group, which is wholly owned by the Alpine principality's ruling family, said it would file charges against a former employee previously convicted of stealing DVDs containing the names of 1,400 customers of its subsidiary LGT Treuhand.
The bank identified the employee as a Liechtenstein citizen and said it believed until recently that the stolen information had been returned when the man was convicted in 2004 of serious fraud, harassment and sequestering documents and sentenced to a suspended one-year prison term. LGT said it did not know the man's current location.
The German government has acknowledged that its Federal Intelligence Service paid an informant as much as US$7.3 million for a list with the names of account holders of a Liechtenstein bank. The information led to a series of high-profile raids against individuals and businesses across Germany.


Updated : 2020-12-02 18:03 GMT+08:00