Category: Julius Baer

Switzerland closes the investigation against Paulo Roberto Costa and confiscates one million Swiss francs

The Office of the Attorney General of Switzerland (AOG) has put an end to the proceedings initiated six years ago against Paulo Roberto Costa, former head of supplies for the Brazilian oil company Petrobras. His arrest, in March 2014, was the trigger for the biggest financial scandal in Brazilian history. The Federal Public Prosecutor’s Office has …

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Gunvor: nominee to face lesser charges in Swiss court

One year after the conviction of a former Gunvor Group trader for corruption in Congo-Brazzaville and Ivory Coast, the Federal Criminal Court is about to try another accused connected to Gunvor. But this time the main charge of money laundering has been dropped and the defendant will be tried only for falsifying documents. The simplified proceedings, which …

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PDVSA: US investigates embezzlement of 4.5 billion dollars via Switzerland

In March 2018, the United States Department of Justice (DOJ) sent a request for legal assistance to Switzerland in connection with the PDVSA scandal. Stemming from that request, the Federal Supreme Court has revealed that the American investigation covers the misappropriation of more than 4.5 billion dollars “mainly through accounts opened in Switzerland”. In a decision made public on May 27, …

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12-month suspended sentence for facilitating 828-million-euro fraud

A former Julius Baer banker has been sentenced for his part in a massive fraud perpetrated against a Lithuanian bank, AB Bankas Snoras, in 2011, in which the bank lost almost a billion euros. The Federal Supreme Court has just upheld a 12-month suspended sentence for the culprit. The former employee also has to hand over his “illicit gains” of 128,000 francs. A.S. …

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