The criminal probe into Raiffeisen's former long-standing CEO Pierin Vincenz is widening. Prosecutors are now also investigating his wife and long-time legal counsel at the Swiss bank, Nadja Ceregato.
Zurich's prosecutor is investigating Nadja Ceregato over allegations she breached confidentiality rules, a spokesman for the prosecutor told Swiss business outlet «Handelszeitung» (in German). Investigators are conducting the probe separately to one into her husband, Pierin Vincenz, who spent more than three months in custody last year.
Ceregato was Raiffeisen's chief counsel under Vincenz, who prosecutors allege engaged in secret side deals while CEO of Raiffeisen. When Vincenz stepped down four years ago, Ceregato was elevated to the Swiss cooperative bank's top management and also took responsibility for compliance. She was sacked when the scandal surrounding Vincenz and an associate, former Aduno boss Beat Stocker, exploded last year.
Couple Separated
The scandal has cost Raiffeisen dearly: the bank is struggling to restore trust among its member banks, under new management and oversight. Neither Vincenz nor Stocker have been charged by prosecutors. As Raiffeisen's chief lawyer for much of Vincenz's tenure running the bank, Ceregato would have had to sign off on any alleged side deals the ex-CEO conducted.
She and Vincenz, who married in 2011, have reportedly separated since the scandal broke. The husband-and-wife team at Raiffeisen was tolerated by Swiss financial regulator Finma, which has to greenlight top executives. Vincenz is expected to be charged and stand trial this year.
