Switzerland recordsdata prison criticism over Greensill


ZURICH, Oct 3 (Reuters) – Switzerland’s financial affairs secretariat (SECO) has filed a prison criticism in relation to collapsed financier Greensill Capital for alleged violations of the legislation towards unfair competitors, it instructed Reuters on Sunday.

The Swiss NZZ am Sonntag newspaper mentioned police searched Credit Suisse workplaces final week after the Zurich public prosecutor’s workplace opened prison proceedings in relation to Greensill following a criticism from SECO.

“No criminal investigation has yet been opened against certain former and current employees of Credit Suisse Group,” the paper cited the prosecutor’s workplace as saying.

Credit Suisse, Switzerland’s second-largest financial institution, mentioned on Sunday that information had been collected from the financial institution as a part of an official process that was not directed towards the lender, when requested for remark in regards to the NZZ am Sonntag report.

“Credit Suisse fully cooperates with the authorities and will, for the time being, not make any further statements on this as this is an ongoing investigation,” it instructed Reuters.

Credit Suisse (CSGN.S) was pressured in March to close $10 billion of provide chain finance funds that invested in bonds issued by Greensill when the finance agency imploded.

Administrators for Greensill and the Zurich public prosecutor’s workplace didn’t reply instantly to requests for remark.

SECO referred Reuters to the Zurich prosecutor’s workplace for any additional remark in regards to the proceedings.

Reporting by Michael Shields; Editing by David Clarke

The logo of  Greensill Bank is pictured in downtown Bremen, Germany, July 3, 2019. REUTERS/Fabian Bimmer