OREANDA-NEWS. October 15, 2010. Viktor Vekselberg, shareholder in Swiss industrial engineering firm OC Oerlikon (VTX:OERL), has avoided a fine of CHF 40 million (USD 40.5m/EUR 30.3m) imposed earlier by the Swiss Federal Department of Finance (FDF).

The Federal Criminal Court of Switzerland said today it dismissed the charges brought by FDF against Russian billionaire, Vekselberg, and the owners of Austrian firm Victory Georg Stumpf and Ronny Pecik.

Earlier, FDF imposed a total fine of CHF 120 million on the three of them. The department claimed they violated stock exchange rules when Russian investment group Renova, owned by Viktor Vekselberg, did not announce the purchase of two stakes in OC Oerlikon from Victory. The investors had appealed against the fine with the court.

The Federal Criminal Court reled that FDF accusations are groundless. FDF evidence is not strong enough to prove any secret agreement between the three investors.