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Latminute.com executives in custody over Swiss fraud investigation

Operators
Will Payne
25 July 2022

Prosecutors in Switzerland have sought to put five current or former executives of Lasminute.com into investigative custody during a probe of possible abuse of state aid for companies impacted by the pandemic.

Prosecutors have reportedly blocked $7 million in company accounts

These include chief executive Fabio Cannavale and operations chief Andrea Bertoli, the company confirmed in a statement. Prosecutors have also blocked $7 million in company accounts.

"The board has resolved to suspend the powers delegated to both of them for a period of three months in connection with the ongoing investigation of the Public Prosecutor’s Office of the Canton of Ticino," a spokesperson said.

In the meantime, the company has appointed chief customer officer Laura Amoretti as interim chief executive. She joined the group in 2010 as managing director of its cruise business and, prior to joining, she was with a European-based online travel agency.