Switzerland's federal criminal court cleared Russian tycoon Viktor Vekselberg on Thursday of breaking Swiss stock exchange disclosure rules in 2006.
Vekselberg and Austrian investors, Ronny Pecik and Georg Stumpf, were accused by the Swiss Finance Ministry in January of failing to disclose their plans when they bought shares in industrial group Oerlikon. The rules demand that large-scale acquisitions are made public.
The three men were ordered to pay a record sum of $40 million each in compensation.
The federal court in Bellinzona said there was not enough proof that Vekselberg, chairman of the investment and business development company Renova, and his two partners had acted illegally.
PARIS, September 23 (RIA Novosti)
