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News // Crime

Vekselberg Settles on Sulzer

19 October 2010 , 18:17The Moscow Times3600

ZURICH, Switzerland — Billionaire Viktor Vekselberg, who holds controlling stakes in Swiss industrial groups Oerlikon and Sulzer, and two partners have paid 10 million Swiss francs ($10.4 million) to end an investigation.

Swiss authorities had been looking into whether Vekselberg and two other investors violated disclosure rules when they built up a stake in Sulzer but closed their investigation after Vekselberg paid compensation, the Swiss Finance Ministry said Monday.

Last month, a Swiss court cleared Vekselberg of violating disclosure rules when he built up his stake in Oerlikon. He was facing what would have been a record 40 million franc fine. 

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