Ex-CEO of Swiss bank Falcon acquitted in money-laundering trial | Reuters
A court acquitted the former chief executive of a Swiss private bank but fined the now-defunct lender 3.5 million Swiss francs ($3.8 million) on Wednesday for helping a Gulf businessman launder money to buy luxury property and cars.
Eduardo Leemann, 65, had denied prosecutors' allegations that as chief executive of Falcon Private Bank he helped launder 133 million euros ($150 million) in illicit proceeds between 2012 and 2016.
He was also accused of making payments of 61 million euros to help the businessman maintain a high roller's lifestyle complete with fast cars and expensive foreign properties.
Prosecutors said the funds came from a deal the businessman put together to sell shares he covertly held in Italian bank UniCredit SpA (CRDI.MI) at an inflated price to Aabar, an Emirati investment firm where he worked.
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