UBS(US:UBS) Mei Ri Jing Ji Xin Wen·2025-09-03 12:16Core Points - UBS AG's former executive Sun Jianrong has been permanently banned from the industry after being convicted of money laundering and contempt of court [2][3] - The case involved over RMB 132 million (approximately HKD 134 million) transferred to Sun's designated accounts, which were later found to be misappropriated [2] - Sun used the misappropriated funds to maintain a lavish lifestyle, including purchasing luxury vehicles and properties in the UK and mainland China [2] Legal Proceedings - Sun was sentenced to ten years in prison on June 21, 2024, after admitting to the charges [3] - The two affected clients obtained a global freezing order in July 2018, limiting Sun's asset disposal to HKD 130 million [3] - Sun violated the freezing order by transferring rights to several UK properties to a company he owned in the British Virgin Islands, resulting in an additional six-month prison sentence for contempt of court on December 20, 2023 [3]