The Phoenix pension fund is on the brink of ruin. The Schwyzer Kantonalbank (SZKB) sees the blame for the debacle on those responsible for Phoenix themselves. Specifically, people from the environment of PK Phoenix with crooked real estate transactions in Lütisburg in 2013 caused the million-dollar hole.
Last weekend, however, the Tagesschau and SonntagsBlick revealed that the SZKB allegedly constructed these allegations – in order to distract from its own role in the debacle. At least that’s what documents from the “Phoenix” research collective at SRF-Ringier indicate. But the SZKB continues to deny any responsibility in the Phoenix case.
PK Phoenix is on the brink of collapse: The cash register, where the Rapperswil-Jona Lakers parked their pension assets, has started talks with the BVG security fund. Because it has a hole of twelve million francs. The Schwyzer Kantonalbank is also involved in the debacle: in 2015 and 2016, it played a key role in Nova-Vorsorge-Holding, which at the time managed the Phoenix cash register.
As early as 2015, those responsible at PK Phoenix identified inconsistencies in the accounting. When they reported this to the Nova holding company responsible, the holding company and the Schwyzer Kantonalbank reacted with a crowbar: they rejected any mistakes and in return accused those responsible for Phoenix of having damaged the pension fund in 2013 with sensitive real estate transactions with related parties in Lütisburg, St. Gallen .
It was only in 2020 that forensic accountants on behalf of Phoenix stated that incorrect bookings in 2016 must be the origin of the million hole.
SZKB wants nothing to do with the debacle
In May 2020, SRF confronted the SZKB with the results of the forensic auditors. At the time, the bank denied any responsibility for the million-dollar hole. She remains so to this day. On Monday she emphasized in a media release: “There are currently no supervisory, criminal or civil law proceedings against the SZKB in this context.”
But research by SRF and SonntagsBlick shows that criminal proceedings are still pending – and civil proceedings are not yet off the table either. Regulatory proceedings against SZKB are also possible. SRF and Sonntagsblick drew the attention of the cantonal bank to the facts. The corresponding SZKB media release was no longer published this Friday.
Several criminal cases pending
In September 2019, the founder of PK Phoenix filed a criminal complaint against three SZKB management employees and a board of directors of Nova-Vorsorge-Holding for false accusations. The PK founder was reacting to a criminal complaint that SZKB and the bank-controlled Nova-Vorsorge-Holding had filed against him three years earlier.
In January 2020, the responsible Thurgau public prosecutor suspended the criminal case against the SZKB management staff and a Nova board of directors:
In August 2021, the Thurgau public prosecutor’s office wrote in August 2021 in the “main matter reported”, i.e. the criminal complaint filed by the SZKB against the PK founder in 2016:
It is therefore quite possible that the public prosecutor’s office will soon lift the suspension of the pending criminal proceedings against former exponents of the SZKB. And so there is still the possibility that the responsible public prosecutor will open an investigation in this criminal case.
PK founder sticks to civil claim
In fact, at the beginning of 2021, the SZKB parted ways with all management employees who were involved in the Phoenix case. But the bank itself is not off the hook. Because a claim for damages by the PK founder of around 30 million francs is still in the room (SonntagsBlick reported).
In the summer of 2020, an arbitration hearing took place at the mediation office in Schwyz between the SZKB and the PK founder – the prerequisite for a claim for damages and thus part of any civil proceedings. The three-month deadline for filing a civil lawsuit has expired, but the PK founder is sticking to his claim. The spokesman for the PK founder says:
The Phoenix also had the statute of limitations interrupted in 2021. The reason is also a possible claim for damages against those responsible for the million dollar debacle. According to the vice-president of the foundation, a pension fund has no choice but to take action against third parties if they are found to be partly responsible for the debacle.
Experts suspect Finma’s intervention
Finally, a formulation in the 2020 annual report points to an intervention by the financial market supervisory authority Finma: SZKB has a vis-à-vis Nova-Vorsorge-Holding, the bank itself writes in spring 2021. According to experts, it is not credible that the bank voluntarily states in the annual report that what she previously denied. In addition, the nature of this intervention corresponds to the Finma approach.
At the request of SonntagsBlick and SRF, Finma writes: “As usual, we do not comment on the details of the supervisory activity at an institution, but the general rule is: If Finma has indications of possible violations of supervisory law, it investigates them and takes measures if necessary. »
Conclusion: It will become clear how the suspended criminal proceedings will continue as soon as the public prosecutor’s office in TG finally terminates the proceedings against the PK founder. The PK founder is sticking to the 30 million lawsuit to this day. And regulatory proceedings against SZKB also seem possible.
On Wednesday, the research collective “Phoenix” from SRF and SonntagsBlick of the Schwyzer Kantonalbank presented the above facts in detail. The bank then repeated its statement from Monday: “In this context, there are currently no supervisory, criminal or civil law proceedings against SZKB. The alleged difficulties of Phoenix PK have nothing to do with SZKB. The SZKB vehemently defends itself against these allegations.”
Facts presumably point to fabricated allegations
Already last weekend, Tagesschau and SonntagsBlick uncovered connections that indicate that the allegations against PK Phoenix due to crooked real estate deals in Lütisburg in 2013 may have been constructed. This is indicated by numerous circumstances and the corresponding files:
SRF and Sonntagsblick have confronted the SZKB with the accusation that they and/or the Nova-Vorsorge-Holding, which they control, fabricated the allegations about real estate transactions in Lütisburg in 2013. The bank replies:
Conclusion: The 100-page report by the Aargau supervisory authority from autumn 2017, which is based on the anonymously created Word document from spring 2017, was brought before the Federal Administrative Court in 2018, before the Federal Supreme Court in 2019 and in further proceedings up to 2021 as crown evidence against the PK Phoenix. The competent criminal investigation authorities will have to clarify whether and for whom this may result in criminally relevant facts.