BERN, SWITZERLAND – The Alliance of Consumer Organisations has filed fraud charges against an unknown perpetrator for supplying consumers with products labeled as beef that contained horse meat. The three member organisations from three language regions, ACSI, FRC and SKS in 2010 joined forces “to reinforce the interests of the consumers throughout Switzerland”. Their legal [...]
UBS fine over rate setting sheds light on growing market fraud (update)
December 19, 2012 by
Update 22:00 ZURICH, SWITZERLAND – UBS, Switzerland’s largest bank, will have yet another large loss on its books, $1.5 billion in fines announced late 18 December, payable to US, UK and Swiss regulatory bodies, for its part in Libor rate-fixing between 2006 and 2010. US regulators will be paid $1.2b by the bank, which was [...]
Sports, football: Fifa bribes scandal raises head again
July 12, 2012 by
GENEVA, SWITZERLAND – The International Football Federation, Fifa, is under the gun again over a bribery scandal that surfaced in 2001 when World Cup marketing partner ISL declared bankruptcy in Switzerland. The Swiss Supreme Court investigation and subsequent corruption report on paybacks of close to CHF15 million was finally released Wednesday 11 July by Fifa, [...]
Israel’s former PM Olmert guilty of breach of trust, acquitted on other charges
July 10, 2012 by
“One of the most significant corruption trials in Israel’s history” gives 2 acquittals, 1 guilty verdict GENEVA, SWITZERLAND – Ehud Olmert, former Israeli prime minister, from 2006 to 2009, has been found guilty on one count of breach of trust and he has been acquitted on two other charges, in what the Jerusalem Post is [...]
Italian PM suggests two-year ban on football as Lazio captain arrested
May 30, 2012 by
©2012 Chappatte, distributed by Globe Cartoon. More cartoons on Chappatte’s web site. Geneva-based Patrick Chappatte works for the International Herald Tribune, for Geneva newspaper Le Temps, and for NZZ am Sonntag. All cartoons reproduced with permission. GENEVA, SWITZERLAND – Italian Prime Minister PM Mario Monti astonished football-loving Italians Tuesday 29 May with the unthinkable by suggesting [...]
German president, engulfed in real estate scandal, quits
February 17, 2012 by
GENEVA, SWITZERLAND – German President Christian Wulff, who is close to Chancellor Angela Merkel, has resigned following an announcement that prosecutors want his immunity lifted in a court case. He has been accused of acting improperly in taking a low interest home loan from the wife of a Bavarian businessman, and also of threatening the [...]
Hildebrand pushed by governors, Swiss media suggest
January 10, 2012 by
ZURICH, SWITZERLAND – The head of the Swiss National Bank may have been pushed to resign by the governing board of the bank, Swiss media, particularly in German-speaking Switzerland, are suggesting Tuesday. Philipp Hildebrand handed in his resignation Monday afternoon, after a two-week scandal sparked by information about his wife’s purchase of dollars in August [...]
Hildebrand’s resignation: scandal grows more complex as IT data thief blames lawyer
January 9, 2012 by
IT whistleblower says lawyer took advantage of him ZURICH, SWITZERLAND – Swiss central bank chairman Philipp Hildebrand, age 48, has just resigned, effective immediately, but the scandal over the theft of private bank data and the financial transactions of Hildebrand’s wife is not likely to die down quickly. He had worked for the bank since [...]
Breaking news: Swiss central bank chairman Hildebrand resigns
January 9, 2012 by
ZURICH, SWITZERLAND – Philipp Hildebrand, chairman of the Swiss National Bank, has resigned, effective immediately, the SNB has announced. He will issue a press statement at 15:15. Details to follow
