RUAG weapons scandal suspects ‘had past business link’
The two prime suspects at the centre of an alleged illegal arms contract between Switzerland and Russia have been linked to previous suspect business ventures, according to media reports.
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A manager at the Swiss state-owned defence contractor RUAG has been suspended along with an employee of Swiss private bank Julius Baer as investigations continue. The Tages Anzeiger newspaper said it had unearthed evidence linking both to a previous venture.
Both were high ranking executives of the now-defunct telecoms firm Novavox some 15 years ago, a company that had strong links to Russia, the newspaper stated on Saturday.
Furthermore, the RUAG employee was linked to a United States businessman who was jailed for three years for stock market manipulation in 2014. The article says this business relationship continued for more than a year after he joined RUAG.
The Julius Baer employee was also Moscow office manager on the Liechtenstein VP Bank when it became entangled with corruption cases, the newspaper adds.
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RUAG denies weapons delivery claims
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Chief executive Urs Breitmeier’s statement comes a day after Swiss federal prosecutors searched the company following a tip-off from a whistleblower about unauthorised arms exports. “We are disappointed that a member of RUAG’s management went against the company’s code of conduct and got involved in third party business that we would never have allowed,” Breitmeier…
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