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.
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
Over 50 former diplomats blast Switzerland for ‘silence’ on Israel
This content was published on
In a joint letter, 55 former diplomats have expressed their shock at Switzerland’s “silence and passivity” regarding Israel’s “war crimes” in Gaza.
Swiss Solidarity donations surpass CHF4 million for landslide victims
This content was published on
As of Sunday morning, Swiss Solidarity’s provisional donation amount for the landslide area was around CHF4.3 million ($5.2 million).
Swiss aid expert criticises Gaza Humanitarian Foundation
This content was published on
The aid work of the Gaza Humanitarian Foundation is insufficient says Swiss government Delegate for Humanitarian Aid Dominik Stillhart.
Danger in Lötschental valley landslide area remains high
This content was published on
According to the authorities in canton Valais, the danger in the landslide area in the Lötschental valley remains very high on Sunday.
Swiss president visits region affected by glacier collapse
This content was published on
Swiss President Karin Keller-Sutter spoke with communities affected by the Birch glacier collapse, which buried the village of Blatten.
This content was published on
On Saturday the Lake Geneva, Valais and Basel regions are expected to record the first tropical day of the year, with temperatures exceeding 30°C.
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.