Lugano: 20 million francs fraud by two companies

New financial scandal broke out in Lugano. A survey coordinated by Attorney General John Noseda is verifying two companies, Invensys and Invensys Asset Management SA. According to investigators, as reported by the RSI, the two companies would be used to raise money, used for personal purposes or to pay back those who asked for the return.

The mechanism would create a financial hole of about 20 million Swiss francs against a hundred customers. The two owners, both from Germany, admitted the facts but deny the allegations of fraud and forgery of documents. One of them was arrested last June.

Moreover, according to the defense lawyers, the amount would be less than 12 million Swiss francs, six of whom would be invested in long-term activities.
The investigation was triggered after a report of FINMA, the supervisory authorities in the markets.