Published
The former head of Raiffeisen had distributed his accounts with a total of 17 banks. Some didn’t say much, others millions.
The former CEO of the Raiffeisen Group will be on trial on January 25th.
The court records indicate that he owned bank accounts with over 17 banks.
Pierin Vincenz is said to have dealt with 95 million francs last year as Raiffeisen boss through a bank in Liechtenstein.
The investigators at the Zurich public prosecutor’s office had not expected this when they tried to confiscate Pierin Vincenz’s assets: the former Raiffeisen boss had his accounts at a total of 17 banks, twelve of which do not belong to the Raiffeisen group, as evidenced by court records. Some didn’t say much, others millions.
Most notably was an account at LGT in Vaduz. In addition, there were hidden wage payments, money for failed lovers and, above all, stock market dealsas the “SonntagsZeitung” writes. In the last year alone as Raiffeisen CEO, he dealt representover 95 million francs. The bank dossier, which covers the period from 2008 to 2017, is 196 pages thick. Loans of millions for protection appeared and disappeared every few days. The head of the third-largest bank traded stocks of large and small Swiss companies as if there were no conflicts of interest. Normally, a CEO of a big bank is not allowed to have accounts in third-party banks.
Bad cards for Vincenz
He didn’t have much luck with his deals, sometimes with millions in the red, which he covered with proceeds from the controversial deals, for which he will be on trial from January 25ththe newspaper continues. There is a lot going on there.
Vincenz and his advisor Beat Stocker probably have bad cards in two company purchases they made for the credit card company Aduno and in which they are around five Earned millions of francs. Because there hbut her accomplice, lawyer Beat Barthold, admitted that he had assisted fraud on several occasions, is in the “SonntagsZeitung”. According to the penal order, Vincenz and Stocker committed the fraud.
Not proof, but an indication
The admission is not evidence, but it is a strong indication. It will be interesting to see how the process ends in the Investnet case. The public prosecutor’s office wants 3.5 million francs back from Vincenz and 8.5 million francs from Stocker. But that’s not all: Raiffeisen has written off 100 million and is demanding half of it back from both of them.
If they win this case, however, Raiffeisen will have to forego the money and fulfill the existing contracts. Then Vincenz and Stocker wave against 100 million francs. If so, they would be the big winners in the process, even if they lose all other cases.
(chk)