Finaport Holding [Zurich]: Leak Exposes Swiss Asset Management Firm’s Work For Clients

A data leak from Finaport, an asset manager based in Zurich, shows the firm worked with clients that included politically exposed persons, two Russians accused of embezzling funds from a bank they owned, and a businessman accused of insurance fraud. A... More

A data leak from Finaport, an asset manager based in Zurich, shows the firm worked with clients that included politically exposed persons, two Russians accused of embezzling funds from a bank they owned, and a businessman accused of insurance fraud. A senior Finaport executive, Hellmut Schumperli, was appointed Radamant’s sole director in May 2016 after the company passed a “successful due diligence” process. An unsigned shareholders’ resolution dated November 29, 2016, authorized Schümperli to “execute” a series of 22 payments worth $587 million from Radamant’s account at Yugra to a Cypriot company called Bittos Logistics Enterprises Ltd. Less