Thibaud Hue 10:05 a.m., January 26, 2022
An article in Le Figaro reveals how Fabien Gaglio, a French golden boy working in finance in Geneva defrauded his clients and then sank the Swiss bank he worked for, Hottinger & Cie.
The fallen angel of finance will be tried in March in Geneva for having looted the accounts of his clients between 2005 and 2013.
He is perhaps one of the greatest swindlers of the 21st century.
From March 21 to 25, Fabien Gaglio will appear before the Geneva Criminal Court for having emptied the accounts of his clients.
He stole the staggering sum of 60 million euros from the Swiss private bank Hottinger & Cie, the oldest in the country, where he had worked since 2005.
>> READ ALSO -
The Orpea retirement home plummets on the stock market after the publication of the book "Les Foyosseurs"
In an investigation, Le Figaro which had access to hundreds of pages of legal documents which reveal the practices of a crooked banker with a formidable modus operandi.
To please his clients, Fabien Gaglio offered them dream vacations in villas, with yachts and private jets.
He claimed that everything was offered by the bank, but in reality he paid for these luxury stays with his victims' own accounts to which he had access.
The banker faces ten years in prison
But Fabien Gaglio did not stop there.
He also stole nine million euros for himself and his family.
Like in 2012 when he withdrew 400,000 euros from the account of a Californian dermatologist to buy a vine.
To hide the manipulation, the 48-year-old changed his bills and lied to his managers.
It was only in 2013 that the deception came to light.
While he was away, the bank searched his accounts and discovered holes worth almost 60 million euros.
Warned, he then promised to arrange everything before giving himself up to the police two weeks later, at his home in France.
>> READ ALSO -
Online banking: ING Direct stops its activities in France
Weakened, this bank, which was the oldest in the country, ended up going bankrupt in 2015. Seven years later, this golden boy will face Swiss justice and risk ten years in prison.