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Money laundering: A suspended prison sentence for the former CEO of Falcon Bank

01/10/2021
Categories: General Information

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The Falcon Bank trial resulted in a suspended prison sentence required for the former CEO. On Wednesday, at the end of the third day of the trial, a prison sentence of 21 months and 90 day-fines was requested for aggravated money laundering.

The Falcon Private Bank was fined 2 million francs due to a serious organizational flaw, according to the Federal Prosecutor's Office (MPC). Thus, the MPC requested a prison sentence of 21 months and 90 day-fines against the former CEO of Falcon Private Bank for aggravated money laundering. Both sentences are required suspended sentences. The defense requested an acquittal. He should also pay a compensatory claim of 85,000 francs. The MPC also demands that the bank pay the commissions obtained through the offenses for an amount of 7 million francs as compensation.

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