Zurich district court found Pierin Vincenz guilty
Zurich – The district court of Zurich found the former Raiffeisen boss Pierin Vincenz guilty of multiple embezzlement, multiple unfaithful business dealings and forgery of documents. He is serving a sentence of three years and nine months in prison.
This freedom road will be completed, as stated in Wednesday morning’s verdict. In addition, there is a conditional fine of 280 daily rates of 3,000 francs. In addition, Vincenz has to pay back CHF 236,000 to the Raiffeisen bank.
Vincenz’ business colleague Beat Stocker, who was also found guilty, received a four-year prison sentence, which he must serve. A fine of 160 daily rates of 3,000 francs is deferred.
After eight partial days of negotiations, the interviews and pleadings ended on March 22nd. In the closing remarks, Vincenz also stressed that he had made mistakes and sometimes exaggerated during his twenty years at Raiffeisen. But he had “done nothing illegal”.
Vincenz’s visits to strip clubs criticized
The district court sharply criticized the way Pierin Vincenz reported expenses on Wednesday when the verdict was opened. The many visits to strip clubs and cabarets were “not in the interests of Raiffeisen”.
This understanding that all expenses would fall under expenses goes “clearly too far,” said the judge. Even nurturing relationships has limits. For the district court, this limit is 1,000 francs per local visit, no more. Vincenz was therefore guilty of dishonest business management.
Vincenz also “left his position” on a Tinder date that Vincenz described as a “job interview” and when renovating a devastated hotel room. He was therefore also guilty of embezzlement.
fault “considerable”
Vincenz has shown a high level of criminal energy in some of the company holdings. Overall, his fault is “considerable”. He abused his high position of trust. But he should be given credit for the fact that no “ordinary citizens” were harmed. In addition, Raiffeisen did not have a proper internal control mechanism, according to the judge.
Vincenz and Stocker are said to have invested in companies and then ensured that these companies were bought by Raiffeisen or the credit card company Aduno. Vincenz and Stocker are said to have pocketed millions in illegal profits from these transactions and takeovers. (awp/mc/ps)