Peter Friederich Formally Relieved Of Post In Luxembourg

by Philip Morton, Investors Offshore.com

23 August 2002

The Swiss Ambassador to Luxembourg was this week formally relieved of his post following his arrest on money laundering charges more than a month ago.

Peter Friederich has admitted to evading taxes and forging documents in order to disguise the origin of assets which passed through his bank account, but has denied accusations of money laundering. However, according to the Swiss Federal Prosecutor's Office, evidence gathered during the ongoing investigation points to the fact that both Mr Friederich and his wife were implicated in a plot to launder the proceeds of international drug smuggling.

Mr Friederich's formal dismissal follows a stern warning issued by the Swiss Foreign Minister, Joseph Deiss at the annual ambassador's conference in Bern earlier this month.

Clearly speaking with Mr Friederich and the Swiss Ambassador to Germany - Thomas Borer, who refused an order to return to Switzerland following subsequently discredited allegations of an affair - in mind, Mr Deiss told the assembled Swiss ambassadors that:

'Diplomats represent the interests of Switzerland abroad, not their own interests.'

He expressed his concern over the furore surrounding the the Swiss Ambassador to Luxembourg, and announced that he would be reviewing the regulations which govern earnings from outside interests for diplomats.

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