Former French banker Fabien Gaglio could face Jail sentence for embezzlement
After pleading guilty to the main charges against him, former french banke Fabien Gaglio faces up to 10 years in prison for stealing more than 60 million francs from the accounts of American, Canadian and Italian clients.
According to what was published by the French newspaper "Lefigaro" in a report, the writer says, "Next March, he is scheduled to appear before the Criminal Court in Geneva, one of the smartest fraudsters in the world against the background of the frauds he committed, which caused Bankruptcy of one of the most famous Swiss private banks.
According to the newspaper, the indictment against the 48-year-old former banker, Fabian Gaglio, included charges of embezzlement of nearly 9 million francs and wasting that money on personal benefits and services.
According to the writer, the newspaper has obtained many documents, which revealed the existence of loopholes and weaknesses in the management of bank accounts, and the recklessness and negligence of bankers, including the naivety of customers, which facilitated the frauds carried out by Gaglio.
It is reported that on the morning of January 23, 2013, Fabian Gaglio surrendered to the French police at the Conciergerie Palace in Paris, recounted the details of his trip and confessed to the frauds he had committed.
According to the writer, Fabian Gaglio admitted the charges against him without making any objection to the decisions of the Public Prosecutor's Office, but the trial proceedings took 9 years, not 4 or 5 years as in this type of case.
In Luxembourg, after reviewing some of the clients' statements and accounts, Fabian Gaglio was sentenced to 3 years in prison, of which he served one year, while in Geneva the investigations stopped for several years.
The Geneva Public Prosecution says that the existence of a long list of suspects, the length of time during which Gaglio is suspected of committing fraud, the interference of some authorities from other countries, in addition to the outbreak of the Corona virus, Covid-19. It delayed the sentencing of Fabian Gaglio.
The writer adds that the trial is expected to take place between March 21 and 25, and according to the writer, it is also expected that Gaglio will use the seniority of the case as an excuse to reduce the expected sentence against him.