Swiss VC firm CEO arrested

According to media reports, Gloor is thought to have used parts of the provided capital for start up companies for dubious transactions. Those were carried out through Core Capital Partners' CC PEP vehicle registered in Bermuda, which could only be accessed by Gloor.

Gloor reportedly led investors to provide capital to companies in which he was already invested, instead of the advertised under-capitalised start-ups.

The venture capital house holds stakes in seven Swiss start-up companies. Two investments in a biotechnology and an outdoor textile business are also backed by Zürcher Kantonalbank.

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