Detained Swiss banker's fate up in the air
By Kevin Gray
and Lynnley Browning
Posted 2012/02/13 at 2:42 pm EST
FORT LAUDERDALE, Florida, Feb. 13, 2012 (Reuters) — A Swiss private banker, held on a criminal complaint for 13 months without a formal indictment, was on Monday given 60 more days by a Florida court to go on trying to resolve the issue with U.S. authorities.
Christos Bagios, a Greek citizen and Swiss resident, was due either to be indicted or have his case dismissed, but instead was granted the extension by Judge Lurana Snow in a federal courtroom in Ft. Lauderdale.
Bagios worked at Credit Suisse AG from early 2009 until this month, according to public securities records, and at UBS AG, the Swiss bank giant, from 1993 to early 2009.
Under federal rules of criminal procedure, U.S. authorities have 30 days after bringing a criminal complaint to either indict a defendant or dismiss charges. An exception arises if, as in this case, the defendant waives his right to hearings that would result in an indictment or a dismissal.
Bagios has repeatedly, with the U.S. government's blessing, waived that right, most recently on Monday.
"Absent extraordinary circumstances, judges are loath to allow waivers for extended periods of time," said Robert Katzberg, a white-collar criminal defense lawyer in New York with clients of Swiss banks. "This is the longest waiver I have ever heard of, and by a lot."
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