Police Shut Down Trust Company in Lugano, Switzerland
Published: Friday, Oct 27th 2023, 09:51
Updated At: Saturday, Oct 28th 2023, 01:55
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The Ticino Cantonal Police announced on Friday that a trust company has been closed in the Lugano TI region. The owners had been operating as trustees without the required authorization for several years.
The two owners, a man and a woman, both Swiss nationals, have reportedly generated significant revenues according to police reports.
As part of the inspections and searches, various documents were seized and are now to be further examined. In addition to the cantonal police, the public prosecutor's office and the supervisory authority for the exercise of the fiduciary profession were also involved in the investigations so far.
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