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The "Farmers Insurance News-Alert" website is dedicated to providing the consumer and general public with detailed information concerning the Farmers Insurance Group. This includes fraud reports, consumer complaints, lawsuit's and other legal actions taken against this company. All information contained herein is for educational purposes only. Original sources, when known are sited.

 

Prosecutor Appeals Acquittal of Zurich Financial's Ex-CFO


 
Zurich, March 1  -- Zurich District Attorney Christian Weber has appealed against a court decision to acquit Zurich Financial Services Group's former chief financial officer, Markus Rohrbasser, of insider trading, Neue Zuercher Zeitung reported. Weber, who had recommended that Rohrbasser be sent to prison, told the Swiss newspaper he expects to receive a written explanation of the judgment ``within about two months.'' A Zurich court last month ruled that Rohrbasser didn't make any ``direct profit'' from his inside knowledge of Zurich's $18.7 billion acquisition of B.A.T. Industries Plc's financial-services units.

Swiss authorities have convicted just one person for insider trading -- the illegal buying or selling of securities based on information not known to the public -- since it became a crime in 1988.

Mar/01/2000

 

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