SWITZERLAND – The canton of Zurich regional court has sentenced Daniel Gloor, former head of asset management at Swiss public pension fund BVK, to more than six years in prison.

The ruling had exceeded even the public prosecutor's call for a six-year sentence, according to Swiss news daily Neue Zürcher Zeitung (NZZ).

The NZZ said the judge acknowledged that the sentence had been "harsh".

Gloor, considered a flight risk, was arrested in court. He was found guilty of multiple cases of accepting bribes, embezzlement, money laundering and breach of judicial confidentiality. 

According to the NZZ, Gloor, who is now 57, has already served 185 days of his sentence awaiting trial.

Additionally, the former head of asset management has to pay the canton of Zurich CHF500,000 (€415,000), as well as the proceeds from the sale of his holiday house in the south of France, the newspaper reported.

Verdicts for other individuals charged in the corruption scandal were also handed down on Wednesday afternoon, according to the NZZ.

Economist Walter Meier was acquitted under the statute of limitations, while Rumen Hranov, former supervisory board member at HBM Bioventures, was sentenced to a conditional prison term of 14 months.

Adrian Lehman, founder of FX trading company Lehman Partners, and Alfred Castelberg, formerly with the Volksbank, which was mandated by the BVK, were each sentenced to 30 months, partly conditional, as well as payment of CHF1.5m.

Thomas Leupin, former chief executive and partner at DL Investment Partners, was sentenced to a 15-month conditional prison sentence.
 

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