The Swiss bank and its former top manager Iqbal Khan have agreed to end all pending criminal proceedings in a 2019 spying affair that toppled the company’s top brass.
This content was published on
2 minutes
swissinfo.ch/Keystone-SDA/gw
Speaking to the Reuters news agency, a spokesperson for Credit Suisse confirmed a report in the newspaper NZZ am Sonntag that, following an agreement between “all parties”, the matter was now closed.
Credit Suisse did not provide more details about the settlement. It is not clear if in addition to Khan, the detective agency hired by the bank to tail Khan and his wife in 2019 was also part of the agreement.
The public prosecutor’s office of the Canton of Zurich told the German-language newspaper that criminal charges were withdrawn “a few days ago”.
The affair exploded in autumn 2019 after it was revealed that Credit Suisse had private detectives tail Khan, who had led the bank’s wealth management division before moving to competitor UBS, and his wife. Zurich police subsequently opened a criminal probe.
The Khans also filed a criminal complaint against the detective agency Investigo, which then filed its own criminal complaint against the Khans.
Leaders resigned
The affair had far-reaching consequences. A contractor who served as a middleman in the case committed suicide. It also emerged that the bank had spied on another former top manager, Peter Goerke.
CEO Tidjane Thiam, who claimed to have been unaware of the spying activities, resigned in February 2020.
An internal investigation found then-chief operating officer Pierre-Olivier Bouée had initiated the spying. He later resigned.
Both Khan and UBS declined to comment to Reuters.
A spokesperson for the Swiss financial watchdog FINMA told the news agency that its probe into the affair, which it launched last year, was ongoing.
Popular Stories
More
Climate adaptation
Why Switzerland is among the ten fastest-warming countries in the world
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
Has your continent reached its peak or is there still potential for economic growth?
Some regions of the world are on an upward trajectory with the promise of a steadily improving future. Where do you live? And in which direction is your region or continent developing?
Swiss households to move as Brienz landslide threat rises
This content was published on
Twenty-five households are planning to voluntarily leave the Swiss village of Brienz, which is threatened by a major landslide.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Credit Suisse scandal shakes Zurich’s elite
This content was published on
What should have been a mere embarrassment for Switzerland’s second-largest bank has ended up as something far more significant.
This content was published on
The director of the Swiss national film archives explains how Hollywood is helping to keep clichés about dishonest Swiss bankers alive.
Credit Suisse snooped on Greenpeace, newspaper says
This content was published on
The bank, which was rocked by an internal spying scandal last year, also conducted ‘espionage’ against Greenpeace, the SonntagsZeitung has reported.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.