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Swiss Banker on Trial With Alleged $2.2 Million Insider Trader

(Bloomberg) A Swiss businessman faces a trial Monday accused of leaking company secrets to a former Lazard banker and then trading off the information in a case that has embroiled two companies that are mainstays of Swiss industry. Hans Ziegler is accused of exploiting his role as a director of pump-making conglomerate Oerlikon Corp. and steel producer Schmolz & Bickenbach to feed commercially-sensitive information to the banker for over three years until he was found out in late 2016. Ziegler passed 19 valuable chunks of data on to the banker, who can only be named as B. under Swiss reporting restrictions. Lawyers for Ziegler and B. did not return messages seeking comment. Federal prosecutors opened a probe into Ziegler, himself the former CEO of Swiss conglomerate Erb Group, in 2016 after learning of the allegations. He resigned from the boards of Oerlikon and Schmolz & Bickenbach as the probe became known. Ziegler, 68, exploited his role as a director of Oerlikon, Schmolz and two ....

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