Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Former Swiss banker found guilty in WikiLeaks trial, avoids jail

Published 19/01/2015, 09:01
© Reuters. Former Swiss private banker Rudolf Elmer arrives before a trial at the high court in Zurich
BAER
-

ZURICH (Reuters) - A former Julius Baer (VX:BAER) banker was found guilty on Monday of breaching Swiss banking secrecy laws by handing over data about offshore clients to WikiLeaks, but will avoid jail time.

Rudolf Elmer, 59, a former senior executive at Zurich-based Baer's Cayman Islands' office, was accused of passing confidential information to WikiLeaks on two occasions, one in late 2007 or early 2008 and another in 2011.

He was found guilty in the former case but not guilty in the latter. Elmer was ordered to pay costs towards the trial and was given a suspended fine. The prosecution was seeking a three-and-a-half-year prison sentence for Elmer.

© Reuters. Former Swiss private banker Rudolf Elmer arrives before a trial at the high court in Zurich

He was also found not guilty of breaching secrecy laws when he attempted to pass confidential client files to then-German Finance Minister Peer Steinbrueck in 2009. Elmer was found guilty of forging a letter from Julius Baer to German Chancellor Angela Merkel in 2007.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.