Swiss financier Behring sentenced to 5 and half years for fraud

Dieter Behring was sentenced to 5 and half years in jail on Friday. The former Swiss fund manager was accused of cheating 2,000 investors out of around 800 million Swiss francs, between September 1998 and October 2004, by promising rich returns to investors via an automated trading system.

Behring, originally having been arrested in October 2004, released in April 2005, and re-arrested in March 2007, was released upon payment of CHF1 million bail and confiscation of his passport.

The trial was held in Bellinzona from 30 May to 30 June this year. The ruling is not final as Behring may file an appeal. For economic crimes such as those committed by the financier Basel the limitation period is 15 years.