Swiss court cuts prison sentences in EMS-Chemie fraud case

24 August 2011 15:25  [Source: ICIS news]

LONDON (ICIS)--A Swiss court has reduced the prison sentences of two former EMS-Chemie employees who last year were convicted of defrauding the chemicals producer of Swiss franc (Swfr) 13m ($16m, €11m), the Switzerland-based firm said on Wednesday.

In an appeals case, the court reduced the sentence for EMS’s former head of accounting to five-and-a-half years, from the eight years imposed last year, and it cut the sentence for a former salesman from four years to three years.

Between 1995 and 2004, the two had defrauded EMS through falsification of documents, money laundering and misuse of data processing equipment, EMS said.

EMS did not disclose the former employees' names or other details, and it did not comment on the court’s reasons for cutting the sentences. According to Swiss media reports, the former accountant is 75 years old and the salesman is 67.

($1 = €0.69, $1 = Swfr0.79, €1 = Swfr1.14)

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By: Stefan Baumgarten
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