Court hears Swissair fraud appeal
A Zurich court has begun hearing an appeal in the case against former Swissair chief Mario Corti on charges relating to the collapse of the national carrier.
The 62-year-old head of Swissair’s parent company, SAirGroup, and 18 others were acquitted of fraud in 2007. He had faced charges of mismanagement, making false business statements and forging documents.
Canton Neuchâtel and Belgium both lodged an appeal against the decision concerning Corti. They allege that the CEO’s statements to a SAirGroup general meeting in April 2001 and in the media regarding the company’s financial affairs were misleading.
The former airline boss supposedly misrepresented a large financing deal from a consortium of banks including Zurich-based Credit Suisse. He is accused of have bungled the airline’s restructuring amid an industry downturn in 2001.
The company folded in 2002.
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