FDF Criminal Law Department concludes investigation in Sulzer affair – suspects pay compensation of CHF 10 million
Bern, 18.10.2010 - Legal Services in the Federal Department of Finance (FDF) has concluded its investigation into the Sulzer AG affair concerning the suspected breach of disclosure obligations under stock exchange law. Proceedings against Ronny Pecik, Georg Stumpf and Victor Vekselberg were dropped after the suspects paid compensation totalling CHF 10 million.
In paying compensation, the suspects have made amends for any wrongdoing regarding the building and disclosure of their stake in Sulzer AG between December 2006 and April 2007. As a result, it is unnecessary to further investigate whether the suspects violated Art. 41 of the Stock Exchange Act and whether the irregularities while accumulating the stake in Sulzer AG actually constituted a punishable breach of the disclosure obligations under the law applicable at the time. FDF Legal Services has thus dropped the criminal administrative proceedings in application of Article 53 of the Swiss Criminal Code.
The compensation paid by Ronny Pecik, Georg Stumpf and Victor Vekselberg has been divided up. Swiss Mountain Aid and Schweizer Patenschaft für Berggemeinden (Swiss Sponsorship for Mountain Communities) each receive CHF 1 million. The remaining CHF 8 million was made available to the FDF, which will use it in the interests of all market participants to strengthen the financial market and make sure it functions well.
Although the main suspects in the OC Oerlikon and Sulzer AG cases are identical, there is no direct link between the two cases. The different facts and legal issues have to be assessed independently. Moreover, in the OC Oerlikon case, a decision regarding any appeal to the Federal Supreme Court will not be made until the written ruling of the Federal Criminal Court has been received and analysed. The conclusion of the Sulzer case will not influence this in any way.
Address for enquiries
Roland Meier, Media Spokesperson FDF, tel. 031 322 60 86
Publisher
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
