A wealth manager working for a private bank in Geneva is currently being detained after allegations he swindled tens of millions of francs from investors.
The worker for Hyposwiss Bank could have been defrauding people since the beginning of the century.
Some estimates suggest he could have pocketed as much as CHF 40m. He was arrested at the beginning of the month.
During the initial hearing, he claimed he was attempting to hide massive losses linked to one major client.
Plan to ease car tax pain
The Geneva Tax Commission has come up with a plan to mitigate the worst effects of the new car tax.
Franc strengthens against euro more
The franc is continuing to strengthen against the euro.
Plenty of jobs - except in Ticino
Job hunters in Switzerland should be able to find employment in the first quarter of next year, unless they’re in Ticino.
ETH Zurich makes drug breakthrough
The Federal Polytechnic, ETH Zurich, says it made a breakthrough on how to direct a drug to the affected part of the body – bypassing areas it’s not needed.
All Geneva traffic lights to be changed
Geneva is embarking on a wholescale renovation of its traffic light system.
Syrian asylum applications suspended
Switzerland is suspending asylum proceedings for Syrian applicants. The same decision has already been made by other countries, such as France and the UK.
