Swiss investigation launched into alleged ‘Covid credit’ fraud
Prosecutors in western Switzerland have opened an investigation into suspected fraud and money laundering linked to financial aid given to several Swiss firms hit by the coronavirus pandemic. Around CHF1.5 million has allegedly been moved abroad.
The Office of the Attorney General of Canton Vaud opened an investigation last week involving several Swiss nationals, it was reported on Monday. Various bank accounts belonging to the suspects have been blocked. The suspects are alleged to have received Covid credits worth several million Swiss francs from various banks based on fraudulent statements.
Several companies, mainly small- and medium-sized enterprises, in different sectors of activity have been searched, Vaud prosecutor Anton Rüsch told the Keystone-SDA News Agency.
“Banks that granted Covid credits carried out checks. These revealed a number of suspicious elements which were notified to the Money Laundering Reporting Office SwitzerlandExternal link at the Federal Office of Police,” explained Rüsch. “Fedpol then carried out checks and as the doubts could not be cleared, it alerted the Vaud prosecutor’s office, which has taken charge of the affair.”
The suspects are accused of using the money for other activities than the daily running of their businesses and of having transferred over CHF1.5 million abroad. Measures have been taken to repatriate the funds. The authorities however gave no further information on where the money was sent.
A legal case has been opened for fraud, breach of trust, aggravated mismanagement, forgery, money laundering and breach of the Covid-19 Solidarity Guarantees OrderExternal link. The investigation, which focuses on the western Swiss canton only, continues.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
Who foots the bill for the Swiss coronavirus relief package?
This content was published on
Funds for an unemployment scheme, loans for cash-strapped companies, financial aid for the economy: The costs of Covid-19 pandemic are considerable.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.