The state attorney of Zurich wants to put ex-banker Pierin Vincenz behind bars. The request is pending at the magistrate court in Switzerland’s largest city.
Former Raiffeisen boss and chairman of payment firm Aduno, Pierin Vincenz, is to be remanded in custody, according to a report by «Tages-Anzeiger» on Thursday (report in German). The state attorney of Zurich also wants to put Beat Stocker, the former CEO of Aduno, behind bars, along with Vincenz.
The magistrate court in the banking capital has until Friday morning to take a decision in the case. To get suspects taken into custody, investigators have to convince the magistrate that they could collude or even abscond. Vincenz spent the night from Tuesday to Wednesday in prison, according to the report.
Tough Measures
Vincenz and Stock are presumed innocent until proven guilty. Vincenz has protested his innocence in a statement on Wednesday.
Police searched the banker’s home on Tuesday and took Vincenz in for questioning. The investigation, with the tough measures applied unheard of in Swiss banking history, thus is gathering pace. Aduno and Raiffeisen in turn have lodged complaints against the former top managers.
At both firms, Vincenz initiated acquisitions of companies with which he personally had business ties. Thus, Aduno and Raiffeisen allege that he acted in bad faith and enriched himself.
