Credit Suisse says it shut Ai Weiwei account due to missing paperwork By Reuters


© Reuters. FILE PHOTO: The brand of Swiss financial institution Credit score Suisse is seen at a department workplace in Zurich, Switzerland, November 3, 2021. REUTERS/Arnd WIegmann/File Photograph


ZURICH (Reuters) – Credit score Suisse (SIX:) closed a checking account of dissident Chinese language artist Ai Weiwei due to lacking paperwork, it mentioned on Saturday, responding to his accusation that the Swiss financial institution had shut him out as a part of a method to win enterprise in China.

“The financial institution’s resolution was made in spring 2021 as a result of Mr Weiwei didn’t present legally required info regardless of repeated requests from the financial institution,” the financial institution mentioned in a press release to Reuters.

“The termination of the shopper relationship was justified by enterprise causes,” it added, confirming an earlier report in Swiss newspaper Tages-Anzeiger.

Ai wrote in September on web site that the financial institution had instructed him it was shutting his account as a result of he had a legal document, although he mentioned he had by no means been charged with against the law regardless of spending 81 days in detention in China in 2011.

“So why was Credit score Suisse utilizing my ‘crime’ as its cause to terminate my checking account? Not way back the establishment introduced that it was accelerating its recruitment of workers in China,” he wrote.

“On the identical time, it could be searching for to take majority management of its joint ventures within the securities market and to use for a license that will permit it to increase its enterprise in each private and funding banking.”

He later instructed Reuters: “Even when they do reverse this resolution, I’m not prepared to be related to a financial institution which has such an odd relationship with China.”

Ai, 64, is considered one of China’s most excessive profile artists and political activists, and helped design the 2008 Beijing Olympics’ famed Fowl’s Nest stadium earlier than falling out with the Chinese language authorities. He now lives in Portugal. Reuters sought remark from him on Saturday.

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