Swiss court convicts German financier Homm in long-running fraud case reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
(Adds comment from lawyer)
ZURICH, April 23 (Reuters) - German financier Florian Homm was convicted by a Swiss court on Friday of breach of trust and multiple forgery of documents in a fraud case that had led to millions of dollars in losses for investors.
The 61-year-old former hedge fund manager was convicted in absentia and sentenced to 36 months in jail, of which half was suspended, the court said.
Authorities had accused Homm of orchestrating a market manipulation scheme to artificially improve the performance of his funds, a fraud that led to at least $170 million in losses for investors.