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Finance's great swindlers: Werner K. Rey, the credit-fueled strongman
🇨🇭 Switzerland /Economy & Trade

Finance's great swindlers: Werner K. Rey, the credit-fueled strongman

From Le Temps · () French

Translated from French, summarized and contextualized by DistantNews.

At a glance

In-depth Named sources Outcome reported
  • Werner K. Rey, once a prominent Swiss financier, built a vast business empire in the 1980s that collapsed into bankruptcy in 1991.
  • He fled to the Caribbean to evade justice and creditors, leading to a seven-year pursuit by Swiss authorities.
  • Rey was ultimately convicted of attempted fraud, forgery, and fraudulent bankruptcy, described by a prosecutor as "the swindler of the century."

Werner Kurt Rey, known as Werner K. Rey, once embodied the image of a successful Swiss financier, building a seemingly formidable business empire in the 1980s. However, this kingdom of wealth was built on a foundation of debt, ultimately collapsing in a spectacular bankruptcy in 1991.

Rey, who presented himself primarily as an "entrepreneur," orchestrated numerous financial operations across Switzerland and established an international business network. His downfall, however, revealed his empire to be little more than a "castle of debt."

Following the collapse, Rey sought refuge in the Caribbean to escape legal repercussions and his creditors. His evasion lasted seven years before Bernese judges finally apprehended him. During his trial, the prosecutor famously labeled him "the swindler of the century."

Ultimately, Rey was sentenced to four years in prison for attempted fraud, forgery of securities, and fraudulent bankruptcy. Images from his arrest show him being led away by police in Nassau, Bahamas, in June 1997, his hands and feet cuffed.

the swindler of the century

— ProsecutorDescribing Werner K. Rey during his trial.
DistantNews Editorial

Originally published by Le Temps in French. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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