In early June, Nicolas Forissier, a former UBS auditor, was honored with the title of Chevalier de la Légion d'honneur by the French Senate. The award is an expression of appreciation for the honoree's work in the political, economic, scientific, and social fields.

Forissier was instrumental in setting the tax dispute between Switzerland and France in motion, which resulted in years of legal wrangling for the major Swiss bank.

UBS Executive Denies Any Wrongdoing

On Tuesday, Forissier was once again in the spotlight as a trial against UBS began in Paris. He accuses his former employer of retailing against him and a former marketing manager after they uncovered the bank's efforts to help wealthy French clients evade taxes. The marketing manager had refused to destroy client data at the request of her superiors and was subsequently dismissed. Both she and Forissier also had their bonuses.

Régis Turrini, the current Chairman of UBS's French branch, denied any wrongdoing at the start of the trial. According to a «Bloomberg» report, he attributed the bank's actions to the «catastrophic situation» caused by the 2007 to 2008 financial crisis.

Forissier denied this and told the judges that UBS's financial problems, which ultimately led to state intervention, were due to «major mistakes» in the investment banking division. «The wealth management division was profitable worldwide and brought in money,» he said.

Consequences of Conviction Could be Steep

In addition to a maximum fine of 75,000 euros for harassment, UBS France could risk a possible ban if the court were to convict the branch for unfair treatment of the whistleblowers.