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Swiss prosecutors seek to probe executives

Swiss prosecutors seek to probe executives
By Reuters
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ZURICH - Prosecutors in the Swiss canton of Ticino have sought to put five current or former executives at into investigative custody during a probe of possible abuse of state aid for companies hit by pandemic lockdowns, the travel group said on Friday.

These include Chief Executive Fabio Cannavale and operations chief Andrea Bertoli, it said in a statement. Prosecutors had also blocked 7 million Swiss francs ($7 million) in company accounts.

The company has said it is confident it had done nothing wrong in the matter.

"The company has already taken measures to safeguard adequate continuity of all day-to-day management of the concerned subsidiaries as they may be affected by such measures and continues to support the office in its investigation," it added.

($1 = 0.9675 Swiss francs)

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