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The Vincenz case was considered by the media to be one of the largest white-collar crime cases in Switzerland. The accused, Pierin Vincenz, was anything but an unknown person. The head of Switzerland’s third-largest bank at the time was approachable and down-to-earth – a likeable Graubünden native, very different from the managers of the two big banks. The media explosion was all the greater when he, of all people, found himself in the sights of the judiciary.
The allegations are steep, and the first instance verdict was also steep. Two years ago, the Zurich District Court sentenced Vincenz to a prison sentence of three years and nine months. The first instance considered it proven that the former head of Raiffeisenbank and his partner Beat Stocker were guilty of fraud and unfaithful business management. Now the higher court has surprisingly overturned the verdict against the ex-Raiffeisen boss.
Serious flaws in the prosecution
The higher court accuses the public prosecutor of serious deficiencies in the indictment. It is too detailed and would go beyond the legal framework. It does not comply with the Code of Criminal Procedure. In the first instance, the public prosecutor’s office prevailed almost entirely. Vincenz and Stocker, the former boss of the credit card company Aduno, illegally participated in companies that were later bought by Raiffeisen and Aduno.
The verdict of the higher court is astonishing. Prosecutor Marc Jean-Richard-dit-Bressel is considered an outstanding lawyer with an excellent track record. He cannot be reached for comment.
As of now, the public prosecutor’s office has not yet officially received the higher court’s ruling, so it can neither analyze nor comment on the decision. One thing is clear: the U-turn has caught the prosecution off on the wrong foot. She will have to face unpleasant questions.
Pascal Schumacher
Business editor
Open the people box. Close the people box
Pascal Schumacher is a lawyer and historian. He has been working as a business reporter for Swiss television for 15 years.