Facts
The appellant, a head of stock trading at Bank A. AG, was convicted by the District Attorney of being an accomplice to multiple forgeries of documents. On the last trading day of the year 2000, he had driven up the price of the registered shares of Company B. Holding through targeted measures, in order to increase the stock market price for the year-end valuation in the bank's nostro accounts and in the customer portfolios. However, the High Court of the Canton of Zurich acquitted him, and the Office of the Attorney General filed a nullity appeal with the Federal Supreme Court.Considerations
The Federal Supreme Court dismissed the nullity appeal. It stated that the indication of stock market prices in portfolio statements does not represent a definitive valuation of the securities, but merely reflects the price at which the shares were traded. Whether this price is supported by the market or distorted…