Former Julius Baer private banker, Rudolf
Elmer, has been found guilty of coercion and breaching bank secrecy
by a Swiss court and reportedly fined CHF7,200 ($7,517).
Elmer, former head of Baer’s Cayman Islands
trust business, was brought before court for leaking internal bank
data to whistleblowing website Wikileaks, first in 2008 and
again last week.
Go deeper with GlobalData
He reportedly admitted some of the charges
against him.
Elmer escaped prosecution demands for a prison
sentence and was sentenced to two years’ probation alongside the
fine, according to media reports.
A spokesperson for the bank said: “Julius
Baer takes note of the verdict.”
The spokesperson made no further comment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Fresh Elmer HNWI leak to be
released
Earlier this week, Elmer handed over
confidential Swiss banking data of about 2,000 clients to Wikileaks
in what Elmer claims was an effort to expose tax evasion by high
net worth individuals (HNWIs).
Wikileaks said the client information,
including names of alleged HNWIs, is to be released within the next
two weeks.
According to several media reports, the bank
details of 2,000 accounts include prominent business people,
artists, around 40 politicians and hedge funds from several
countries, including the US, Germany and Britain.
The data is understood to come from three
financial institutions, including Julius Baer and covers the period
1990-2009.
