Million-euro fine for Zurich hotelier Schwarzenbach confirmed
Published: Thursday, Aug 15th 2024, 12:00
Back to Live Feed
The art collector and financier Urs E. Schwarzenbach has been finally sentenced to pay a fine of around CHF 7.1 million for multiple VAT evasion. The Federal Supreme Court has dismissed his appeal.
Schwarzenbach's lawyer and the co-owner of Galerie Gmurzynska were also not acquitted as requested. In a decision published on Thursday, the Federal Supreme Court confirmed the fine of around CHF 1.4 million for the gallery owner.
Only in the case of the lawyer was it reduced from a good 2 million to not quite 1.8 million. The gallery owner and lawyer must also pay the unpaid VAT of CHF 7.7 million and CHF 4.8 million respectively, whereby they are jointly and severally liable for these amounts. Schwarzenbach has paid his share.
The Federal Supreme Court confirms the findings of the Zurich High Court that the three convicted persons used an unlawful procedure when importing works of art from the Dolder owner between 2008 and 2013.
©Keystone/SDA
English 
German 
French 
Spanish 
Arabic