ZURICH, Sept 30 A former Swiss fund manager
accused of cheating 2,000 investors out of around 800 million
Swiss francs ($826 million) was sentenced to 5-1/2 years in jail
on Friday, more than a decade after his investment empire
The Federal Criminal Court ruling caps a weeks-long trial of
Dieter Behring, who was accused of fraud and money laundering.
Behring, who has denied wrongdoing, did not respond
immediately to an email request for comment. The ruling is not
final as Behring may file an appeal.
The court also ordered the forfeiture of frozen funds and
told Behring to pay the government 100 million francs in
damages, it said on its website.
Behring and several partners ran a trading system from
Basel, Switzerland, that he said produced "above-average
results" for investors before it collapsed in 2004.
He was arrested in October 2004, initiating what became one
of the Swiss attorney general's longest-running investigations
that finally led to an indictment late last year.
Prosecutors accused Behring of raking in hundreds of
millions of francs by promising rich returns to investors via an
automated trading system.
"We regret the large losses of those damaged ... but we also
have lost everything that we had built up in the previous
decades," Behring had wrote on a website he created to outline
his arguments and share hundreds of related documents.
He said other people took the money after being consumed by
what he called a "growing and insatiable greed".
(Reporting by Michael Shields; Editing by Janet Lawrence)