MALAGA GAZETTE

Wednesday, January 19, 2011

Ex-Banker Fined for Threat, Swiss Secrecy-Law Breach - Businessweek


Wednesday, January 19, 2011 | ,

Ex-Banker Fined for Threat, Swiss Secrecy-Law Breach - Businessweek: "A former Julius Baer Group Ltd. banker was fined today by a Zurich court for breaking the country’s client-secrecy laws and making a death threat against a bank employee.

Rudolf Elmer was fired from his position as chief operating officer by Julius Baer Bank & Trust Company Ltd. in the Cayman Islands in December 2002. In 2004 and 2005, Elmer sent copied client data to Swiss tax authorities and the newspaper Cash, and this week gave information on about 2,000 of the bank’s cross- border clients to WikiLeaks founder Julian Assange in London.

Elmer was found guilty by the criminal court of making a “threat, several counts of attempted duress and multiple counts of breaking banking secrecy,” Judge Sebastian Aeppli said today. He imposed a fine of 7,200 Swiss francs ($7,500), which was suspended for two years. The prosecution had asked he be sentenced to eight months in jail."

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