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Published on January 18, 2024 at 6:29 p.m. / Modified on January 20, 2024 at 1:49 p.m
The defense was speaking on the second day of the trial of two former Hottinger Bank executives who were charged with serious unfair corporate governance and breach of trust in the Geneva police court. They are accused of rejecting the transfer order from the small private bank’s largest customer, who wanted to transfer $89 million to a new branch. That instruction, issued when Hottinger was on the brink of bankruptcy, had not been implemented before his bankruptcy was officially announced in October 2015. As a result, the client, Beninese-Gabonese businessman Samuel Dossou, who made his fortune in oil, saw his assets pass into the bank’s insolvent estate. The plaintiff in this story has only recovered 33 million so far. On Wednesday, the public prosecutor’s office requested an 18-month suspended prison sentence for Hottinger’s two ex-bankers.
The fact that D.* refused to make this transfer on Friday October 23, 2015 was because he respected the rules imposed on him, argued his lawyer Pierluca Degni, recalling that this file had been reviewed twice by The public prosecutor’s office had concluded an eight-year process. D. was responsible for Hottinger’s finances and cash management and did not want to endanger the bank’s already extremely precarious financial situation.
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