Swiss prosecutors are investigating the purchase of Credit Suisse for possible irregularities

The Office of the State Prosecutor of Switzerland published this Sunday the opening an investigation on by purchasing Credit Suisse Bank by his rival UBS to confirm that the transaction was carried out in accordance with the relevant legislation.

“The Prosecutor’s Office wants to proactively fulfill its mission and responsibility to contribute to the cleanup of the Swiss financial center and, in this sense, has established a supervisory mechanism to take urgent action in any situation that is within its area of ​​operation,” the institutions explained in a statement collected Financial Times.

The prosecution believes that the operation includes “many aspects to explore” to identify any crime that might fall within its jurisdiction.

UBS bought Credit Suisse on March 19 after negotiations backed by the Swiss state and valued at 3,000 million Swiss francs (3,020 million euros).

The operation was criticized by lawmakers from across the Swiss political spectrum, who criticized the government for using its extraordinary powers to extend taxpayer-backed financial guarantees to UBS and silence potential shareholder opposition.