Switzerland files a criminal complaint about Greensill
Allegation: Violations of the law against unfair competition
The Swiss Economic Secretariat (SECO) has filed criminal charges in connection with the collapsed financial company Greensill Capital for alleged violations of the law against unfair competition,.
The Swiss newspaper NZZ am Sonntag reports that the police searched Credit Suisse (SIX: CSGN) offices last week after the Zurich public prosecutor opened criminal proceedings against Greensill in response to a SECO complaint.
"No criminal investigation has yet been initiated against certain former and current employees of the Credit Suisse Group," the newspaper quoted the public prosecutor as saying.
Credit Suisse, the second largest bank in Switzerland, said on Sunday at the request of the NZZ am Sonntag that the bank's data had been collected as part of an official procedure that was not directed against the lender.
"Credit Suisse is fully cooperating with the authorities and will not make any further statements until further notice, as it is an ongoing investigation," she told Reuters.
Credit Suisse was forced to close $ 10 billion worth of supply chain finance funds that had invested in Greensill-issued bonds in March when the financial firm collapsed.
The Greensill administrators and the Zurich public prosecutor did not immediately respond to requests for comment.
SECO referred the Reuters news agency to the Zurich public prosecutor's office for further comments on the proceedings.