The former head of Optimal, the Geneva-based hedge fund investment arm of Spanish bank Santander, has been charged with criminal mismanagement of client funds that were placed with fraudulent US broker Bernard Madoff.
The former head of Optimal, the Geneva-based hedge fund investment arm of Spanish bank Santander, has been charged with criminal mismanagement of client funds that were placed with fraudulent US broker Bernard Madoff.
Manuel Echeverría was charged as part of a probe by Geneva investigating magistrate Marc Tappolet, according to legal sources and a court document seen by the Financial Times.
He is one of the first and most senior wealth managers known to be facing criminal charges in connection with the Madoff scandal.
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