Trial/Court Zug Amvac fraud trial ends with extensive acquittals

In the appeal trial concerning the alleged multi-million fraud involving the Zug pharmaceutical company Amvac, there have been far-reaching acquittals. The main defendant was only found guilty of falsifying documents and given a conditional fine.

The Zug High Court thus acquitted the 51-year-old woman of the charge of commercial fraud, according to the verdict published on Wednesday. This is not yet legally binding.

The first instance had sentenced the Hungarian woman to six and a half years' imprisonment for commercial fraud and forgery of documents. The public prosecutor's office had accused her of selling worthless shares in her effectively bankrupt pharmaceutical company Amvac to almost a thousand inexperienced investors between 2012 and 2015.

Two men who handled the sale of the shares were also charged. The High Court acquitted them of the charge of aiding and abetting commercial fraud. The court of first instance had handed down custodial sentences for them.

SDA