Who called the shots at Consultfin? Who was the brain and who the brawn?
Palazzolo’s treatment didn’t differ from that of Della Torre and Rossini, except that being the President of Consultfin he had the judicial responsibility, while Della Torre was only the executive. As the Judges saw it, Palazzolo was the brain and Della Torre was the brawn. Della Torre managed to appear negligent while, as the Court put it, Palazzolo was punished for his intelligence and experience.
Whereas, if anything, the opposite was true. Palazzolo had arrived at Consultfin and a year later the clients he had inherited from Della Torre and the Swiss bank, were exposed for their criminal activities. His apparent intelligence and experience, duly noted by the Court, hadn’t served him very well.
The central point was to show that until October ‘82, nobody was aware of anything. Though Palazzolo harboured doubts, he had no evidence. That is, not until 1982 when Andy Phelan, President of Hutton, informed them that the FBI was making enquiries. From that time on they could not longer exclude any drug links.
Rossini, though his lawyer, let the court know that if he were indicted he would blow the whistle about money laundering, which according to him implicated every single Swiss bank. But he didn’t get off for long.