Zurich authorities have placed Pierin Vincenz, the former chief executive of Swiss banking group Raiffeisen who is suspected of corporate fraud, in custody to prevent him communicating with other accused individuals.
This content was published on
1 minute
SDA-ATS/ts
Vincenz, also former chairman of the board of directors of credit card company Aduno, was detained on Friday along with a former Aduno board member. In a statement, Zurich prosecutors provided no further details.
Prosecutors accuse Vincenz of playing a double game in takeovers concerning Aduno and investment trust Investnet and personally cashing in. Vincenz denies the accusations.
The 61-year-old has also been dogged by suspicions of conflict of interest during his tenure as Raiffeisen boss, during which he personally invested in subsidiaries of the banking group. Raiffeisen is Switzerland’s third-largest banking group after UBS and Credit Suisse.
The Swiss financial regulator FINMA recently investigated Vincenz’s fitness to hold office, but was forced to drop the probe when Vincenz resigned as chairman of Swiss insurer Helvetia, ending his last active role at a FINMA-regulated company.
This content was published on
A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
This content was published on
The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
Ecological status of Swiss streams insufficient according to study
This content was published on
Pesticide use and obstructions of waterways have a particularly negative impact on sensitive organisms, completely absent in 70% of streams analysed.
Train line between Brig and Domodossola interrupted
This content was published on
One day after a derailment approximately 15 kilometres from the Swiss border, BLS is running buses for passengers between Preglia and Domodossola, in Italy.
Swiss football boss wants crackdown on individual hooligans
This content was published on
The head of the Swiss Football League says he prefers a harsher approach to individual hooligans rather than collective punishment measures affecting all fans.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Former Raiffeisen boss Vincenz faces criminal probe
This content was published on
“Raiffeisen is therefore making a maximum contribution to the complete clarification of all processes,” the bank said in a statement on Wednesday. Vincenz has been dogged by suspicions of conflict of interest during his tenure as Raiffeisen boss, during which he personally invested in subsidiaries of the banking group. There have also been questions surrounding…
This content was published on
Pierin Vincenz, who hopes centre-right parties will do well in the October 23 parliamentary elections, calls for a pragmatic approach in implementing international standards on bank customer confidentiality. He says stability is key for to maintain the image of Swiss banks which has suffered over the past few years. “One thing that makes Switzerland very…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.