Luxury flat formerly owned by Norwegian banker convicted of drug offences sold for CHF 2.28 million

The luxury flat in Oberägeri previously owned by a Carl Vevle, a Norwegian investment banker convicted of drugs charges dealer, has been sold at auction for CHF 2.28 million.

It was in spring of last year that photographs of the flat were published in the newspaper after a neighbour suspected intruders had broken in. It turned out that it was not an intruder who was using a torch to find his way around, but the owner himself, who was using it after his electricity supply had been cut off, following non-payment of the bill.

As previously reported, in May this year  Vevle was convicted on charges relating to the Narcotics Act and handed an 18- month conditional sentence, proceedings also initiated to ensure he was deported. However, he has appealed to a higher court after denying he manufactured crystal meth to sell on.

After a bank demanded repayment of CHF 2 million from him, he had no other option than to sell the property in this sought-after location at number 3 Erlimatt, and an auction to this effect duly took place last week, some 25 people showing interest. The Bankruptcy Enforcement Agency had valued the property at CHF 2.42 million.

It seemed initially there were three core bidders, one representing a local property company, who offered CHF 1 million, another a private individual from over the cantonal border with Zurich offering CHF 1.6 million, and a representative of UBS who bid CHF 2 million. However, a man from an investment company in eastern Switzerland, who preferred to remain anonymous, then offered CHF 2.1 million and in the end it was he who bought the property for CHF 2.28 million. As to what had happened there in the past was of no interest to him.

While the property looked unoccupied, it was not clear whether Velve had actually left; no keys had been exchanged. As to lasting effects of the drug-manufacturing process, the authorities had given the all- clear with regard to the quality of the air inside, but it was not known whether the floors were still contaminated.

As for a reaction to the sale from Vevle himself, the 42-year-old wrote it was a tragedy for him and his family and insisted again he was innocent.