Schmidhalter, who is also vice president of the Swiss Ski Federation, has been suspended until further notice ahead of his trial on October 27.
The Swiss man is accused of fraud in connection with his private business.
The Swiss newspaper Blick reports that the World Cup boss denies defrauding a former business partner of around 300,000 Swiss francs (approximately SEK 3.6 million).
Crans-Montana is hosting the Alpine World Ski Championships from February 1-14, just 13 months after a devastating fire at a bar in the popular ski resort claimed 41 lives and injured 115.
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