Swiss get tough on corruption

November 23rd, 2009

Financial Times

Action by a Swiss judge to order the confiscation of bank accounts held in countries outside Switzerland set a legal precedent that will help in the international fight against corruption, legal experts said.

Yves Aeschlimann, a magistrate in Geneva, found Abba Abacha, son of General Sani Abacha, the late Nigerian dictator, guilty of graft, sentenced him to a suspended prison term and ordered confiscation of $350m (€235m, £210m) in funds held in Luxembourg and the Bahamas. The funds had already been frozen by the investigation.

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