Federal Court Million-euro fine for Zurich hotelier Schwarzenbach confirmed
The art collector and financier Urs E. Schwarzenbach has been finally sentenced to a fine of around CHF 7.1 million for multiple VAT evasion. The Federal Supreme Court dismissed his appeal.
15.08.2024, 12:00
SDA
Schwarzenbach's lawyer and the co-owner of Galerie Gmurzynska were also not acquitted as requested. In a decision published on Thursday, the Federal Supreme Court confirmed the fine of around 1.4 million francs for the gallery owner.
Only the lawyer's fine was reduced from a good 2 million to just under 1.8 million. The gallery owner and lawyer must also pay the unpaid VAT of CHF 7.7 million and CHF 4.8 million respectively, whereby they are jointly and severally liable for these amounts. Schwarzenbach has paid his share.
The Federal Supreme Court confirms the findings of the Zurich High Court, according to which the three convicted persons used an unlawful procedure when importing works of art from the Dolder owner between 2008 and 2013.
