Hottinger Bank Trial: Defense Speaks Out | Full Coverage and Analysis

2024-01-18 17:29:00

Published on January 18, 2024 at 6:29 p.m. / Modified on January 18, 2024 at 8:34 p.m.

The defense spoke on the second day of the trial of two former executives of the Hottinger bank, tried for aggravated unfair management and breach of trust at the Geneva Police Court. They are accused of having rejected the transfer order of the largest client of the small private bank, who wanted to transfer 89 million dollars to a new establishment. This instruction, passed when Hottinger was on the edge of the precipice, had not been executed before his bankruptcy was made official in October 2015. As a result, the client, the Beninese-Gabonese businessman Samuel Dossou, who made his fortune in oil, saw these assets pass into the bank’s bankrupt estate. Plaintiff in this story, he has only recovered 33 million so far. On Wednesday, the prosecutor requested 18 months suspended prison sentence for Hottinger’s two ex-bankers.

If D.* refused to have this transfer made on Friday October 23, 2015, it is because he respected the rules imposed on him, said his lawyer, Pierluca Degni, recalling that this file had been closed twice by the Public Prosecutor’s Office during the eight years of proceedings. Responsible for Hottinger’s finances and cash management, D. did not want to compromise the bank’s already extremely perilous financial situation.

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