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Ex-Credit Suisse chairman fined nearly $2,200 for breaking COVID rules – paper

Randy Mancini 8 Feb 2
FILE PHOTO: Antonio Horta-Osorio speaks at the British Chambers of Commerce annual meeting in central London
FILE PHOTO: Antonio Horta-Osorio speaks at the British Chambers of Commerce annual meeting in central London, Britain, February 10, 2015. REUTERS/Stefan Wermuth.

February 2, 2022

ZURICH (Reuters) – Former Credit Suisse Chairman Antonio Horta-Osorio has been ordered to pay a fine of 2,000 Swiss francs ($2,178) for breaching COVID-19 quarantine regulations, Swiss newspaper Blick reported on Wednesday.

The fine is a further blow for the executive who abruptly left Switzerland’s second-biggest bank last month after it emerged he had breached COVID-19 quarantine rules twice in 2021.

The affair was an embarrassment for the former Lloyds chief executive who had said every banker needed to be a risk manager. [L1N2TW0J0]

The penalty order was imposed by the Investigations Office in Uznach in St Gallen canton, the paper said. In addition to paying a fine, he must also pay court fees of 350 francs, although it was unclear whether he had accepted the punishment, the paper said.

The Investigations Office and a spokesperson for Horta-Osorio were unavailable for comment immediately. Credit Suisse declined comment.

($1 = 0.9181 Swiss francs)

(Reporting by John Revill and John O’Donnell; Editing by Michael Shields)