Zurich Prosecutors Probe Second Complaint About Ex-Baer CEO
Zurich public prosecutors received a second email in just
over a month alleging wrongdoing by former Julius Baer Group Ltd. Chief
Executive Officer Boris Collardi during his tenure as head of the wealth
manager.
The prosecutor’s office received an anonymous email last
week about alleged misconduct related to money-laundering, a spokesman for the
prosecutor said by email, declining to give further details. It follows a
complaint made in June that also alleged wrongdoing by Collardi and other
former managers of the bank.
“Preliminary clarifications as to whether an initial
suspicion of criminal misconduct exists” are still ongoing, a spokesman said.
So far, no formal criminal proceedings have been opened.
“This is a third party matter, which we cannot comment on,”
a spokeswoman for Julius Baer said. A spokesman for Collardi did not
immediately return a call seeking comment. Pictet & Cie., where Collardi is
now co-head of wealth management, declined to comment.
Peter Nobel, Collardi’s lawyer, told Le Temps on June 20
that the prosecutor would not open an investigation, even a preliminary
procedure, into the first email it received.
Switzerland’s financial regulator Finma last month opened
enforcement proceedings against Baer over an Argentine entrepreneur suspected
of processing tens of millions of dollars through fraudulent shell companies.
The bank also received a reprimand in February from the financial regulator for
falling “significantly short in combating money laundering” and a ban from
acquiring new companies.
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