SWITZERLAND -  The Zurich prosecutor in the corruption case against the former head of asset management at the BVK, Daniel Gloor has filed charges including multiple cases of bribery and mismanagement with offences amounting to almost CHF1.7m (€1.4m).

The charges against Gloor, who was arrested last year but is no longer in prison, include taking or expecting cash bribes and other financial advantages from five  business partners of BVK between 2000 and 2010.

No names were given in the statement issued by Zurich’s public prosecution office, but the public prosecutor responsible, Robert Braun, confirmed Gloor’s name to IPE.

Gloor, who - as with the other five people charged remains innocent until proven guilty - is also charged with having caused the BVK damage worth CHF43.5m with recovery measures between 2001 and 2002 from which the BT&T Asset Management profited.

The founder and chief executive of BT&T Asset Management, who has previously been identified as Walter Meier, has also been charged by the prosecutor. 

Allegedly, he committed multiple acts of bribery having given CHF121,000 in cash to Gloor between October 200 and year-end 2001.

Public prosecutor Braun explained that the sentence for both “active and passive bribery” can be up to five years in prison.

Further, Gloor is charged with having rejected commission pay-backs - retrocessions, worth almost CHF2.3m from dealings with Argus Finanz AG in 2004 and 2006 which would have benefitted the BVK.

At the Argus Finanz AG, the head of the Zurich-based asset management company was charged with multiple cases of bribery and instigating disloyal management,

The former chief executive and partner at DL Investment Partners, previously identified as Thomas Leupin, was also charged with bribery.

He is the only one of the six people charged to remain in custody as there was still a danger of “flight and suppression of evidence”, the public prosecution office noted in a press release. 

Finally, “a former member of the supervisory board at a private equity company” as well as the head of the Swiss-based asset manager Lehmann Partners were also charged with bribery.

Braun noted that no date was set for the trial as this will be for the district court to set where the lawsuit was filed.
 

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