A currency trader who lost all his client’s money has been told he will have to serve 6 months in jail - with a further two years suspended.
The 76-year-old started to lose money during the 2008 financial crisis, but didn’t tell his clients and was trying to build the fund back up – but then a bad bet on the British pound ahead of the Brexit vote pushed him over the edge.
The pound collapsed an unprecedented 15% after the vote.
Despite this – he continued to speculate on the market without telling his clients of the loss.
He never managed to recover the lost money and had to declare bankruptcy.
Heat closes Geneva paddling pools
Soaring temps hit hospitals
Crans-Montana looks to summer season after fire tragedy
MétéoSuisse warns of budget cuts
Rents rise Geneva - more than Zurich
Better passenger rights coming
