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SEC defendant Homm convicted in Switzerland

2021-04-30 21:01 ET - Street Wire

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by Mike Caswell

A federal criminal court in Switzerland has convicted Florian Homm, the man accused in the U.S. of running a $200-million hedge fund fraud along with Vancouver Island resident Colin Heatherington in 2006. (All figures are in U.S. dollars.) Prosecutors said that Mr. Homm used hedge funds to artificially boost several companies, inflicting massive losses on those who invested in the funds. In one instance, the men allegedly sent a stock to $12.99 from $3.20 in minutes.

Mr. Homm's conviction is contained in a decision released by Swiss authorities on April 23, 2021. A criminal chamber in Bellinzona entered the conviction and then sentenced Mr. Homm to 36 months in jail, plus two years of probation. (The decision does not identify Mr. Homm by name, only saying that someone named "A" has been convicted, but reports in local media make it clear that "A" is Mr. Homm.) The Swiss court convicted him on charges that included forgery of documents, while clearing him of money laundering and commercial fraud counts. As with most convictions, Mr. Homm could still appeal.

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