Four banks of the Principality of Monaco were told they must respect the ruling of a court in Lugano of long-running legal case, and restitute a total of 33 million euros to 346 victims of a money-laundering fraud in Switzerland.
The banks named are Credit du Nord, EFG Bank, Andbank and Credit Lyonnais.
A total of six accounts were held in the banks in the name of an Italian man in his fifties, who was not present to argue his case at the court.
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