Article: Bank Julius Bar sued.(Financial News)

Swiss bank Julius Bar is being sued in the United States for allegedly defrauding, looting and converting millions of dollars in depositors' assets.

New York-based law firm Leahey and Johnson is demanding at least $40 million (CHF50 million), plus interest and punitive damages.

Julius Bar claims that the allegations and accusations are "ridiculous" and that it would, if required, "vigorously defend" its actions.

The bank, based in Zurich, also described the claims against it as possible grounds for legal action against the Wall Street law firm.

Leahey and Johnson filed the complaint in the Supreme Court of the State of New York against ...

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