The Zurich prosecutor has closed the case on the wife of former SNB president Philipp Hildebrand over her FX trades just before the SNB imposed the swiss franc cap. The trades were said to be done over property deals and unknown by the SNB chariman back in August 2011. The deals, said to be around $500k, earned a nice little profit for Mrs Hildebrand as she was long dollars over the peg. Philipp Hildebrand resigned over the issue and went on to work for Blackrock (probably on currencies)
Today the prosecutor said that there was no evidence of a Hildebrand client advisor passing on information and that the transactions were not covered by insider trading laws. Mrs H will not face any charges.
