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Former Raiffeisen CEO Pierin Vincenz has withdrawn his appeal against a Federal Supreme Court ruling that reinstated a previous conviction from the Zurich District Court. Vincenz, sentenced to 45 months in prison for fraud and bribery, and a co-defendant have deemed their chances of success too low. The case will now proceed to the Zurich High Court, with Vincenz facing additional court costs.
Pierin Vincenz, the former CEO of Raiffeisenbank, has withdrawn his appeal to the Federal Supreme Court, leading to the reinstatement of a Zurich District Court ruling from April 2022. The High Court had previously overturned this ruling in January 2024, citing issues with the indictment's detail and translation for a non-German-speaking defendant. Vincenz was sentenced to 45 months in prison for fraud and bribery, alongside a co-defendant who received 48 months.
Pierin Vincenz, the former CEO of Raiffeisenbank, has withdrawn his appeal to the Federal Supreme Court, which had reinstated a Zurich District Court ruling from April 2022. The High Court had previously overturned the District Court's verdict, citing issues with the indictment's detail and translation for a non-German-speaking defendant. Vincenz was found guilty of fraud, qualified mismanagement, and passive bribery, receiving a 45-month prison sentence.
Pierin Vincenz, the former Raiffeisen bank CEO, has withdrawn his request for a review of a Federal Court ruling, allowing the appeal process to resume in Zurich. The Supreme Court had previously overturned a Zurich District Court verdict, citing issues with the indictment's detail and translation for a non-German-speaking defendant. Vincenz was sentenced to 45 months in prison for fraud and related charges.
Pierin Vincenz, the former head of Raiffeisen Bank, has decided to withdraw his request for a review of the Federal Supreme Court's ruling. The court upheld a 45-month prison sentence for embezzlement, dishonest administration, and document falsification, contrary to an earlier decision by the Zurich cantonal court.
UBS could incur costs of around CHF 10 billion if it relocates abroad, with potential takeover risks looming due to higher capital requirements. Meanwhile, Credit Suisse faces significant losses from inadequate controls, totaling CHF 22 billion over 15 years. Swissquote is focusing on digital banking growth, particularly through its financial app Yuh, while Stadler Rail defends its growth strategy despite market challenges, aiming for a targeted EBIT margin of 6 to 8 percent in the medium term.
Pierin Vincenz, former Raiffeisen CEO, faces a three-year and nine-month prison sentence for secretly investing in companies acquired by Raiffeisen. The Zurich High Court is advancing the trial despite defense attempts to challenge the indictment and claim bias in the prosecution. The defendants' appeal to recuse the public prosecutor's office has been rejected, and the court emphasized that the unconventional involvement of an external expert was justified due to the complexity of the case.
Pierin Vincenz faces renewed legal challenges as the Federal Supreme Court has overturned the Zurich High Court's decision to send his case back due to alleged indictment flaws. This reinstates the district court's judgment, which sentenced him to three years and nine months in prison. The High Court will now review the case's substance for a final ruling.
Former Raiffeisen boss Pierin Vincenz has been convicted in the first instance, marking a significant reversal in his case. The Federal Supreme Court upheld the Zurich District Court's ruling, rejecting the Zurich High Court's criticism of the indictment and allowing the appeal proceedings to continue.
The Swiss Federal Supreme Court has upheld Pierin Vincenz's first-instance conviction for fraud and bribery, rejecting the Zurich Supreme Court's procedural dismissal. The case will return to the Supreme Court for further consideration, as the indictment was deemed sufficiently detailed and the defendants' rights were upheld.
Pierin Vincenz
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