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Cum-Ex-process: court acquits Duo from the main charge

the case concerned, among other things, the Swiss Bank secrecy and so-called Cum-Ex-control tricks. The district court of Zurich said on Thursday one of the three accused because of economic espionage guilty. The other two convicted because of incitement to commit an Offence against the banking law.

All three of them came with conditional penalties. The judgments, however, are not yet final. Two of the Accused had notified the same in the court of appeal, the third and the Prosecutor want to wait for the written grounds of judgment.

The district judge a of the three German languages, guilty of economic espionage in a case of attempted multiple assault, and multiple offences against the banking act. They condemned the lawyers to imprisonment for a term of 13 months and a fine of 170 daily rates to 120 Swiss francs, both of which are conditional.

The other two, a lawyer and a Bank employee, were the charges of economic espionage, acquitted. The court found her only of incitement to multiple violations of the banking act guilty. They were given conditional fines of 360 daily rates to 460 or 360 francs.

The Prosecutor had asked for all three of the accused's convictions for economic espionage in numerous cases and numerous other crimes. For this, they should to a certain extent with imprisonment of three years, 3.5 years, and three years and ten months to be punished.

Illegal Cum-Ex-transactions

In the process, it went to the secret documents of the Swiss private Bank J. Safra Sarasin in connection with the now illegal Cum-Ex-transactions. With these was bruised thanks to tax cheat the German tax authorities hundreds of millions of euros.

of The Bank's employees, lawyer and a Bank employee who had previously worked at the private Bank, ensured that these documents have been forwarded to attorney Eckhart Seith. This could then be used in a process in favor of his client, the German chemist king Erwin Müller.

Müller had lost a lot of money, as the Cum-Ex-transactions were prohibited in Germany and the Fund in which he invested had broke. He accused the Bank, to have him bad advice, and she sued successfully for compensation payments. The district court of Ulm denounced the Bank in 2017 to compensation of 45 million euros.


Created: 11.04.2019, 10:22 PM

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