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Switzerland files criminal complaint over Greensill

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The emblem of Greensill Financial institution is pictured in downtown Bremen, Germany, July 3, 2019. REUTERS/Fabian Bimmer

ZURICH, Oct 3 (Reuters) – Switzerland’s financial affairs secretariat (SECO) has filed a felony criticism in relation to collapsed financier Greensill Capital for alleged violations of the regulation towards unfair competitors, it advised Reuters on Sunday.

The Swiss NZZ am Sonntag newspaper stated police searched Credit score Suisse workplaces final week after the Zurich public prosecutor’s workplace opened felony proceedings in relation to Greensill following a criticism from SECO.

“No felony investigation has but been opened towards sure former and present workers of Credit score Suisse Group,” the paper cited the prosecutor’s workplace as saying.

Credit score Suisse, Switzerland’s second-largest financial institution, stated on Sunday that information had been collected from the financial institution as a part of an official process that was not directed towards the lender, when requested for remark concerning the NZZ am Sonntag report.

“Credit score Suisse absolutely cooperates with the authorities and can, in the intervening time, not make any additional statements on this as that is an ongoing investigation,” it advised Reuters.

Credit score Suisse was pressured in March to close $10 billion of provide chain finance funds that invested in bonds issued by Greensill when the finance agency imploded.

Directors for Greensill and the Zurich public prosecutor’s workplace didn’t reply instantly to requests for remark.

SECO referred Reuters to the Zurich prosecutor’s workplace for any additional remark concerning the proceedings.

Reporting by Michael Shields; Modifying by David Clarke

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