Category: Corruption

PDVSA: Liechtenstein investigates Matthias Krull for money laundering

The Liechtenstein public prosecutor’s office has opened a criminal investigation against Matthias Krull, Julius Bär’s former banker who was previously sentenced to ten years in prison in the United States for his role in the embezzlement of 1.2 billion dollars from the public oil company’s coffers. An American court decision dated 10 February 2020 reveals that …

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Lava Jato, PDVSA: The latest decisions of the Swiss courts

The Odebrecht case and its ramifications around the world are reaching the Swiss justice system. The Federal Criminal Court and the Federal Supreme Court have recently taken several decisions on mutual assistance which we summarise here. Doleiro Roberto Douer’s funds remain blocked in Switzerland In August 2018, Brazil had transmitted to Switzerland a request for assistance concerning …

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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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Swiss court maintains freeze on Venezuelan lawyer’s Odebrecht ‘consulting fees’

The freezing order on some 73 million dollars held in Switzerland by Hector Dager remains in place. On October 24 the Federal Criminal Court rejected an appeal by one of the two companies controlled by the Venezuelan lawyer. Dager is accused of managing flows of money from the under-the-counter funds of Brazilian company Odebrecht. More …

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Three years after the scandal, a Swiss bank was still processing PDVSA bribes

An official from Venezuela’s state oil company PDVSA allegedly received bribes through a Swiss bank up to 2018, more than three years after the first American indictments in the corruption scandal. The accounts in question, linked to businessman José Manuel González Testino, are the subject of two legal assistance requests from the United States. The Federal Supreme Court has just …

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Swiss attorney general’s office aims for “dynamic legal assistance”

“The extent of money laundering in Switzerland is well known, and there is a strong risk depending on the sectors,” Patrick Lamon of the Office of the Attorney General of Switzerland told an audience of his peers in Bern on November 8. The federal prosecutor was taking part in a seminar organised by the Swiss Association of Experts in Economic …

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Swiss conviction for former Trafigura executive in Petrobras scandal

Previously convicted in Brazil, Mariano Marcondes Ferraz, a Brazilian businessman who admitted paying bribes to a high-ranking employee of the Brazilian state-run oil company Petrobras, is now facing criminal sanctions in Switzerland. Gotham City has seen the sentence order for the case, in which the illicit payments were routed through Swiss banks. For a long time, article …

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Swiss investigation targets J. Safra Sarasin bank in Petrobras scandal 

The Office of the Attorney General of Switzerland has opened proceedings against Basel-based J. Safra Sarasin for “suspicion of internal organisational failures”. The federal investigation of Swiss institutions involved in the Petrobras – Odebrecht corruption scandal, now in its famous “third phase”, has already targeted PKB Privatbank in Lugano. J. Safra Sarasin, controlled by Joseph …

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Geneva probes ENI dealings around Congolese oil licences

The Public Prosecutor’s Office of Geneva has opened a money laundering investigation in relation to the activities of Italian group ENI in the Republic of Congo (Congo-Brazzaville). A recent judgement of the Federal Criminal Court of Switzerland reveals money belonging to a person under investigation in Italy has been seized in a Swiss bank. Prosecutors in Milan, who are investigating how the …

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Former Morgan Stanley banker receives 30-month prison sentence in Switzerland

A Swiss-based former employee of Morgan Stanley (Schweiz) AG in Zurich has to return to prison for 100 additional days. The man already spent 348 days in pre-trial detention from 2014, before being released on bail of 200,000 francs. The German-Greek citizen, resident of Zurich’s Gold Coast, was sentenced by the Federal Criminal Court on Monday, October 14, to …

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