SHARE
COPY LINK

MONEY

Modern-day Valais counterfeiters echo 19th century criminal

Some shopkeepers in the Valais city of Sion got a shock when they deposited their takings after the recent Sion carnival on discovering that some 100 franc bills were fake.

Modern-day Valais counterfeiters echo 19th century criminal
Photo: dacasdo/Depositphotos
According to local paper Le Nouvelliste, managers of the affected businesses were only made aware the banknotes were counterfeit when they took them to be deposited at the post office, where staff immediately picked up the fraud.
 
It’s not the first time in recent months when fake 100 franc bills have turned up in the Valais. In late January the owner of the Big Ben Pub in Verbier identified several counterfeit notes in his takings, as did the organizers of two masked balls in Rarogne in late January, the paper reported.
 
A spokesman for Valais police told the paper such cases were rare and usually only happened when conditions were right. 
 
“Such problems often happen when money is exchanged in darkness, or when there is noise and crowds. Carnival is therefore an opportune moment.”
 
However counterfeiting in the Valais is nothing new. Whether they are aware of it or not, today’s money-forgers are mirroring the actions of a legendary predecessor. 
 
Joseph-Samuel Farinet was an Italian counterfeiter who arrived in the Valais in 1869 and began minting fake 20 centime coins.
 
Wanted by the authorities, he stayed hidden by distributing his fake coins to local people in exchange for their help – as a result he garnered a reputation as a ‘Robin Hood of the Alps’, since his money helped poor families.  
 
He managed to evade police for years, but in 1880 was eventually tracked down and chased to a gorge above the village of Saillon, between Martigny and Sion, where he met his death in mysterious circumstances. 
 
Farinet has since become a celebrated figure and has been mythologized in a novel and a film. His name is a common sight in the Valais – and the canton even named its new ‘local’ currency after him last year.  
 
It’s unlikely today’s forgers will be so celebrated…
 
For members

INHERITANCE

Inheritance in Switzerland: Which country’s laws should dual nationals follow?

Switzerland has well-defined rules for inheritance and succession rights. But do dual nationals have some leeway in choosing which country's laws to follow?

Inheritance in Switzerland: Which country's laws should dual nationals follow?

First, let’s look at what Swiss inheritance / succession legislation says.

Who gets what depends on whether you have a will or not when you die (the latter’s legal term is ‘intestate.’)

If you don’t have a will, your estate will be divvied up among your legal heirs: spouse or registered partner and children.

Typically, the spouse gets half of your assets and the children the other half, to be divided equally among them.

In case you have no kids, your parents or even grandparents could inherit from you.

Next in the statuary succession rights  are siblings.

If, however, you have no living relatives whatsoever, your estate will go to the canton or commune of your last residence.

What if you do have a will?

It will give you some, though not total, flexibility in who you want to leave your assets to — and how much. 

For instance, you can choose who your heirs will be and how your estate should be distributed among them.

You can decide to give more than a half to your spouse and less to the children, or vice-versa.

However, your legal heirs — that is, spouse and children — cannot be cut out of your will altogether.

Note that this law applies to Swiss citizens only. If you are a foreign national living in Switzerland, your succession is normally governed by the laws of your country.

However, if you a long-term resident and plan to remain here permanently — for instance, if you have a C permit — you can choose the Swiss law instead of the foreign one to apply upon your death. But you must state your preference in your will.

If you die intestate, then the Swiss legislation will kick in, as it will be deemed the law of your last place of residence.

READ ALSO: 7 things you need to know about Swiss inheritance law

What about dual nationals?

At present, those who have Swiss citizenship in addition to a foreign one, must abide by Switzerland’s inheritance law only.

That’s because, for all intents and purposes (including legal ones), they are considered to be Swiss citizens only.

However, this will soon change.

On December 22nd, 2023, the parliament adopted the Federal Act on International Private Law (PILA), which will give dual nationals in Switzerland the option of basing their succession on the laws of  their ‘other’ country of citizenship.

However, in doing so, dual nationals can’t derogate from Swiss statuary succession rules — that is, they won’t be able to exclude spouses and children from inheriting their part of the estate.

The new legislation is expected to come into force on January 1st, 2025.

READ ALSO: What you should know about dying in Switzerland

SHOW COMMENTS