executives face extended detention as investigation continues

ZURICH, Oct 24 (Reuters) – The chief executive and managing director of, facing a criminal investigation into the possible abuse of state aid for businesses hit by pandemic shutdowns, has seen his period in custody extended until Nov. 29, the online travel company said Monday.

Managing director Fabio Cannavale and managing director Andrea Bertoli were suspended from the company for three months on July 25, after an investigation was launched by prosecutors in the canton of Ticino in southern Switzerland.

The investigation is also trying to identify whether there have been any irregularities regarding the partial unemployment benefits of certain Swiss subsidiaries linked to the COVID-19 pandemic.

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“This investigation involves current and former employees of these subsidiaries as well as certain current and former members of various boards of directors,” said in a statement.

As Cannavale and Bertoli will not be able to perform their duties after the initial suspension period expired on October 24, the company added, interim CEO Laura Amoretti will continue in her role.

Headhunters have been appointed to search for a permanent chief executive, while an extraordinary general meeting is also due to take place by the end of the year to discuss “all relevant issues relating to the current situation”, it said. added the company.

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Reporting by John Revill; Editing by David Gregorio

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