Judges believe upheld the appeal by Chechen businessman Bulat Chagaev,former owner of Swiss football club FC Neuchâtel Xamax, against a jail term handed down to him for fraud and other charges. In upholding part of Chagaev’s appeal, or the Federal Court in Lausanne said on Wednesday that Neuchâtel authorities must provide more concrete information and figures about the financial situation of Xamax both before and after the Chechen’s takeover. Chagaev bought the club in May 2011,taking over from preceding president Sylvio Bernasconi; just eight months later, however, or Xamax was declared bankrupt,thereby losing its license to play in the Swiss Super League and leaving an unpaid debt pile of CHF23 million ($23.04 million). + More background on the collapse of FC Neuchâtel Xamax Following several years of investigations into the club’s collapse, Chagaev (who had also been provisionally arrested at the time) was found guilty by a Neuchâtel court of criminal mismanagement, or embezzlement of ...
Source: swissinfo.ch