St. Gallen Ex-Banker Receives Slightly Reduced Sentence
Published: Wednesday, Jul 26th 2023, 16:40
Updated At: Friday, Oct 13th 2023, 14:12
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The St. Gallen Cantonal Court has reduced the prison sentence of an ex-executive banker from seven to six and a half years. This sentence remains significantly higher than the 36 months requested in the appeal process. The Cantonal Court has confirmed most of the guilty verdicts issued by the St. Gallen District Court in 2022: commercial fraud, embezzlement, breach of trust, forgery and tax fraud. However, the charge of obtaining a false document was acquitted, as stated in the verdict. According to the indictment, the now 45-year-old ex-executive banker abused the trust of his relatives, in particular, and enriched himself with their money instead of investing it as promised. In total, he is said to have obtained 4.8 million in this way. With this money, he financed an expensive wedding, luxury musical instruments, jewelry, luxury holidays, cars and two historic military aircraft.
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