PubliGroupe CEO Schumacher suspected of embezzlement
His fiduciary company ITAG is accused of improper share transactions.
Vice-Chairman of the Board of Directors of PubliGroupe, is under investigation on suspicion of
Property offenses investigated. As reported by the SonntagsZeitung (SoZ),
the Basel-Stadt public prosecutor's office has opened an investigation,
after a former employee of Schumacher's trust company ITAG
a criminal complaint "for embezzlement, dishonest business management
and possibly other offenses". In addition to Schumacher
his business partner Konrad Annasohn and two senior executives will also be
Employee accused. At the end of May
A house search was carried out at the company.
On the one hand, ITAG is accused of having unlawfully
customer credit balances pledged against a bank loan and thus a
acquired a 20 percent stake in Radio Basilisk (from which it has
separated again in 2002). According to SoZ, the customers were not
have been informed. A former board member of ITAG confirmed
this incident to the newspaper.
On the other hand, ITAG, as a securities dealer, is said to have prohibited price cuts.
at the expense of their clients. As the buyer of a package
of 12,000 PubliGroupe shares would have been held by Hayek-Holding, for example,
Swatch and the Swatch pension fund of the trust company in advance 15
million francs. However, ITAG offered the buyer a higher price.
price than the actual cost price, thus creating a
made a forbidden course cut, reports the SoZ, which according to its own
corresponding statements are available. Co-owner Konrad
Annasohn, on the other hand, said, with the exception of one other, as early as 2003
case that became known, ITAG had done "everything possible" in securities transactions.
correctly".
