Swiss and San Marino banks face trial

Swiss banks Edmond de Rothschild and the Banca Sammarinese di Investimento (BSI) from San Marino, along with two of the seven accused, are facing trial over allegations of aggravated money laundering. The trial, which began on Wednesday, involves Antonio Perini, a former director of BSI, who is accused of allowing the deposit of a hidden sum of 9 million euros and the immediate cash withdrawal of 8 million euros.

Former Russian oligarch claims fraud

The trial also includes Pierre Grotz, a former trusted person and investment advisor to the former Russian oligarch Vitaly Malkin. Malkin, a former Russian senator, claims to have been defrauded of 20.9 million euros in a real estate operation in Bonifacio (Corsica-South) conducted by Grotz and Jean-Noël Marcellesi, a hotelier and real estate agent on the island. Malkin is a civil party in the trial, which is scheduled to last until October 30.

Court finds itself unable to handle part of the case

The court declared itself incompetent to handle the case involving the transfer of 20.9 million euros made by the company Greenvale of Vitaly Malkin, registered in the British Virgin Islands, and from his Swiss account in Geneva. The transfer used banking circuits located abroad (San Marino, Switzerland, Bahamas) via companies registered in Panama, the United Arab Emirates, and the American state of Delaware.

French accused remain under court's jurisdiction

However, the court retained its jurisdiction to judge the other five accused due to their French nationality, even though the offenses were committed abroad. This includes Jean-Noël Marcellesi, a Corsican accused of breach of trust and organized money laundering, with a large part of the 20.9 million euros passing through his foreign accounts.

Prosecutor warns of possible appeal

At the hearing, the prosecutor considered a "probable appeal" of the decision associated with a request for immediate examination by the court of appeal, which would then require a suspension of the trial. The decision will be communicated on Friday.