Pierin Vincenz trial reopens at Zurich High Court

The Zurich High Court has reopened the legal proceedings against former Raiffeisen executive Pierin Vincenz and his former business partner Beat Stocker. The trial, which includes a planned ten-day period, follows a previous ruling by the Zurich District Court in April 2022 that sentenced Vincenz to three years and nine months in prison and Stocker to four years.

The defendants were convicted of fraud, breach of trust, and passive bribery related to corporate acquisitions. Allegations suggest they enriched themselves by secretly holding stakes in companies that were subsequently acquired by Raiffeisen or the credit card company Aduno, where Stocker served as managing director and Vincenz as chairman of the board.

Additional charges involve the misuse of corporate credit cards for personal expenses, including trips to Dubai and visits to strip clubs, which the prosecution characterized as a "tour de Suisse through the red-light district." Vincenz has defended these expenditures as "relationship management."

The reopening of the case follows a protracted legal battle regarding the 356-page indictment, which the High Court previously found to be excessively detailed, potentially hindering an effective defense.