BANKING: Suicide in Switzerland

On the placid blue waters of Lake Geneva, which are normally graced by white sailboats and sleek cruisers, last week floated an ugly sight: the body of an apparent suicide. The corpse was a shocking reminder that Switzerland's banking industry, long famed as a citadel of honesty and stability, is being shaken by scandals.

The man in the lake was Charles Bouchard, former manager of Banque Leclerc, a small, discreet Geneva financial institution that Swiss authorities had ordered closed pending an investigation into losses of $12 million or more in real estate ventures....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!