The Zurich justice pronounces its verdict on Wednesday morning in the trial of the ex-boss of Raiffeisen and his six co-defendants. Pierin Vincenz faces six years in prison for fraud by profession, unfair management, false titles and passive corruption.
The Zurich District Court delivers its judgment from 08:30 a.m. The trial ended on March 22 after eight days of hearings spread over two months. At its conclusion, Pierin Vincenz had admitted to having made mistakes in twenty years spent at the Raiffeisen bank, but he had stressed that he had not committed anything illegal. He demands to be acquitted.
Hidden contributions and expense reports
The Public Prosecutor accuses Pierin Vincenz and his acolyte Beat Stocker, former boss of the credit card company Aduno, of having placed hidden holdings in companies intended to be taken over by Raiffeisen or Aduno, with the sole aim of get rich.
Pierin Vincenz is also accused of having financed large private expenses through expense reports: 200,000 francs for visits to strip clubs and 250,000 francs for trips. During the trial, he justified these expenses by the need to maintain his relationships with his clients.
Sum of offense: 25 million francs
He also described as a ‘job interview’ a date set up in a restaurant through the dating app Tinder. In total, the criminal sum alleged against Pierin Vincenz is 9 million francs and 16 million for Beat Stocker, against whom the Public Prosecutor has requested the same six-year sentence.
Prosecutors also requested suspended or partially suspended prison sentences against their five co-defendants, as well as a monetary penalty in one of the cases. They blame them for their complicity.
The defense lawyers demand the acquittal of their respective clients as well as reparations for moral damages. During the trial, they strongly criticized the work of the Public Prosecutor, describing certain passages of the indictment as ‘rubbish’ disconnected from the reality of the facts.
/ ATS