UBS chief Secretary in the purchase-to-noise – and heads looked the other way

There's a belt for 370 francs, there was a knit sweater for 820 francs. A day after a cosmetic surgery for 11050 franc is a Pair of boots for 680 francs. Jewel

UBS chief Secretary in the purchase-to-noise – and heads looked the other way

There's a belt for 370 francs, there was a knit sweater for 820 francs. A day after a cosmetic surgery for 11050 franc is a Pair of boots for 680 francs. Jeweler visits hit with tens of thousands of francs. The same is true for travel to Mauritius, Thailand, Singapore, Sylt, Spain or Ascona.

Between February 2003 and October 2010, the UBS chief Secretary used the credit card of the Bank, over 800 times for private purposes. What started in the year 2003 is modest, with two purchases for a total of 571 Swiss francs, increased until 2006 on purchases for almost 47 000 Swiss francs. In the year 2008 were recorded on your card spending of up to 250'000 francs. But that was not all: A year later, the load of the card was 321'404 CHF 26'784 CHF per month.

the 56-year-old woman had to appear before the court, had a simple reason for this: According to the indictment, had not been the credit card provided to pay for "business expenses". But you have used the card "inappropriately to cover their own private needs, and partly to cover the needs of your spouse".

No relation to reality

deserved The whole matter, the various trips, hair salon visits, operations, hotel visits, food, dress purchases (in Basel alone, a dress shop, thanks to the woman over 100'000 Swiss francs) stood in front of the Supreme court no longer up for discussion. The only question was: Has made the 56-Year-old at the time of the fraud or the misappropriation of guilty?

It was not only the Prosecutor, but also the UBS , which appeared with three attorneys before the court, which wanted to see the in England living Swiss convicted. The defender came with a small advantage before the chief judge: Him the first-instance judgment with which his client had been cleared accompanied.

The woman described the mentality that prevailed before the financial crisis in asset management, ranging the Rich and the super of this world supervised. In a nutshell, There was "a climate of self-service. The reference to money, and reality has been lost completely." The Manager would not have submitted such a high expense that the monthly reports of the Secretary, the could loose to exceed the 30'000 Swiss francs, stood out.

"Isch scho

guet" was Missing it because of internal control? By no means. There was a multi-stage control system. The rules were clear: private expenses on the company credit card were taken in the next payroll deduction. But the top managers have reviewed the submitted documents, the woman "either deficient or both blind eyes," as the Supreme court ruled.

According to the statements of the wife, the Latter was probably. "My bosses saw the reports and what the issues were." You have mentioned private expenses, it was called guet: "Isch scho."

According to the 56-Year-old were not all the purchases for you. It also acted in behalf of their bosses. "The part I was working 80 per cent for private errands of my bosses," she said.

"it has nothing to surreptitiously"

confirmed to The Supreme court for the acquittal. A fraud could be no question. The woman have "nothing complicated, no control bypassed". It would also be "simply inconceivable" that none of the various heads of the women have noted for seven years, nothing. The superiors had let "a minimum degree of attention to miss", so that the question of victims, would have put part of the responsibility.

Also, a misappropriation is not out of the question. With the submission of the credit card, which was integrated in a control system, whether the 56-Year-old has been entrusted to no assets. This would be the prerequisite for a conviction.

Whether the Prosecutor or the UBS draws the acquittal to the Federal Supreme court, is still to be determined.

Created: 28.02.2020, 13:13 PM

Updated Date: 02 March 2020, 18:01

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