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Julius Bär to suspend employee involved in Swiss arms deals probe

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Julius Bär to suspend employee involved in Swiss arms deals probe

Julius Bär Gruppe AG will suspend an employee involved in an investigation by Swiss federal prosecutors into arms deals by Swiss weapons-maker RUAG, Reuters reported.

A spokeswoman for the Swiss lender said it had taken note of the allegations surrounding the employee and was looking into them, according to the newswire.

A Julius Bär banker in Russia has been alleged to be involved in the case, Reuters reported, citing Swiss paper Handelszeitung.