First Madoff Trial Set in Switzerland to Start Later This Year

Switzerland will start the criminal trial in early December of the head of the largest of the Geneva feeder funds that channeled money to convicted fraudster Bernie Madoff, seven years after the American admitted cheating investors. The trial of Manuel Echeverria, who ran Banco Santander SA’s Optimal Investment unit, will start Dec. 7 in Geneva’s Tribunal de police, said Henri Della Casa, a spokesman for the Geneva prosecutors’ office. He was charged in 2009 with aggravated mismanagement over his handling of client funds. The lead plaintiff is Franck Berlamont, a client of Echeverria’s. More on Bloomberg here.

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