Switzerland: Swiss charge prominent businessman with insider trading and bribery

Criminal proceedings were launched against Ziegler in April 2016, after the Swiss Financial Market Supervisory Authority (FINMA) raised suspicions of insider trading. The federal prosecutor extended its investigation a year later to a second person, as well as widening the accusations to include bribery and industrial espionage.

The federal prosecutor alleges that between the end of 2013 and November 2016, Ziegler – as a member of the board of a company – disclosed trade secrets to the second accused several times and without authorization. This included information related to the sale of a foreign subsidiary to a potential foreign buyer, whom the second accused was advising at the time.

Ziegler is alleged to have demanded CHF150,000 ($164,800) in exchange for this information. The payment was eventually made to a company belonging to Ziegler.

The original full article can be found at swissinfo.ch

(Photo: Keystone / Peter Klaunzer)

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