2024-01-17 20:12:48
Published on January 17, 2024 at 9:12 p.m. / Modified on January 17, 2024 at 9:25 p.m.
More than eight years following the events, the bankruptcy of the Hottinger bank still occupies the courts. Two former executives of the establishment have been on trial since Wednesday in Geneva, suspected of aggravated unfair management and breach of trust. As Hottinger plunged into difficulties, in October 2015, a major client, Samuel Dossou (a former advisor to Gabonese President Omar Bongo, who made his fortune in oil) wanted to move his assets – $89 million – to another bank. But his transfer order was not executed before Hottinger’s bankruptcy was declared, on Monday 26. The client only recovered 33 million in the affair and hopes to review the rest of his assets, still under held captive.
Why wasn’t his transfer made before the weekend? Who decided what, between the two defendants? In October 2015, Hottinger, bloodless, was negotiating to be taken over by another small Geneva private bank, CBH, on instructions from Finma. On October 21, Samuel Dossou ordered his manager to transfer his 89 million to the Safra Sarasin bank. It will never be done.
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