The cantonal bank of St Gall in Eastern Switzerland is mired in a corruption scandal, which involves a prominent Austrian politician and a Swiss fiduciary, according to press reports.
Karl-Heinz Grasser and Fiona Swarovski are the two prominent names at the heart of the case involving corruption and money laundering – he is a former Austrian finance minister and his wife heir to the Swarovski crystal business, according to a report in Switzerland's «Sonntagszeitung» yesterday.
The state attorney in Vienna last week brought charges against Gasser and a further 15 accused, the report said. The accused are charged on counts of so-called white-collar crime.
Stashed Away in Switzerland
One of the accused is a Swiss fiduciary, known only as W. He is said to have hidden away bribery money belonging to Grasser and has been charged with money laundering.
Part of the money, some 909,000 euros, are said to have been put on an account belonging to W. at St. Galler Kantonalbank (SGKB). The beneficial owner of the account was Fiona Swarovski, «Sonntagszeitung» said. Grasser and W. deny any wrongdoing.
