Banque cantonale vaudoise

In the past, the Swiss taxpayer regularly paid for the damage incurred, even though a cantonal bank, as in the case of the BCV, never had a state guarantee.

Another NZZ newspaper article reports that BCV acted as a lender to a Canadian-Turkish company in the Canadian province of Saskatchewan in that same year.

[5][6] In order to meet and speak with Alanna Koch, the former vice minister of agriculture, Banque Cantonale Vaudoise (BCV) invited Swiss journalists to Regina, Saskatchewans capital.

After a popular vote forcing the Canton to maintain a shareholding majority in the bank, Vaud had to inject 600 million Swiss francs to recapitalize it.

In the lengthy process, all bank officers were acquitted of the allegations of balance sheet manipulation and document falsification, with Duchoud being given a suspended 90-day-fine for granting exceedingly large bonuses to some employees.