Compass Finance trial in Geneva: former trader absent, tried for 17 million francs in hidden commissions
The second Compass Finance trial opened on Monday in Geneva without the main defendant. The former trader is being prosecuted for receiving approximately 17 million francs in hidden commissions.
Former Compass Finance trader tried in absentia in Geneva
The Geneva Correctional Court opened on Monday the second trial linked to the Compass Finance asset management firm — without its central figure. The former trader of the defunct Geneva firm did not appear at the hearing and will be tried in his absence, according to Le Temps.
The charge sheet accuses him of receiving approximately 17 million francs in hidden commissions in the early 2010s, without the knowledge of a major client whose assets he managed. These commissions represented between 16% and 19% of assets under management, far exceeding the generally accepted rate of 0.3% to 1%. At the same time, the former trader allegedly concealed the actual losses recorded on this same client's portfolio.
Among the other defendants appearing this week is at least one presumed accomplice, for whom, according to Le Temps, "everything was in order".
This second trial broadens the Compass Finance affair, already sanctioned once in December 2025. Following this first proceeding, the former director and founder of the company were sentenced alongside an art dealer for overbilling masterpiece paintings to this same wealthy client — the complainant is the same in both cases. The two men have appealed their conviction.
The harmed client, whose identity is not specified, thus lies at the heart of both proceedings: the first concerned overbilling of artworks; the second, being examined this week, concerns hidden commissions and concealed losses on the management of his assets.
Source: Le Temps