CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Investigation Of Swiss Ambassador To Luxembourg Stalls

Investigation Of Swiss Ambassador To Luxembourg Stalls

by Ulrika Lomas, Tax-News.com, Brussels

23 July 2002


It emerged this week that the investigation into alleged money laundering activities carried out by the Swiss ambassador to Luxembourg, Peter Friederich has been dropped.

This surprise move comes after Friedrich reportedly admitted to lying about the origins of money deposited in Luxembourg bank accounts last year. However, the Swiss ambassador has repeatedly denied allegations of money laundering.

A spokesman for the Swiss Federal Prosecutor's Office, Hansjurg Mark Wiedmer, commenting at the time of the ambassador's arrest, said Friederich had made deposits worth 1.25 million Swiss francs (US$750,000) into bank accounts in Luxembourg during the second half of 2001.

He also said that Friederich had falsified the documents relating to the deposits- a charge that the diplomat has allegedly admitted- claiming the money had come from the sale of private goods to an acquaintance.

Speaking to the Swissinfo news service at the weekend, Carlos Zeyen, Luxembourg's Deputy Prosecutor explained that: 'We cannot launch legal proceedings against a diplomat,' although he revealed that: 'The investigation could be relaunched if the Swiss make such a request'.

According to Swissinfo, Switzerland's Federal Prosecutor subsequently requested that Friederich's detention be extended.

The Swiss ambassador's lawyer, Jean Rene Mermoud has announced that he plans to appeal against any extension of his client's imprisonment, arguing that Friederich was the 'fall guy' in a plot hatched by 'secret services and political schemers' to preserve Luxembourg's reputation.

Mermoud alleges that the money laundering investigation launched into the financial affairs of his client was an attempt to divert attention away from Clearstream, the Luxembourg-based financial clearinghouse which was last year accused of hiding illegal transactions.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »