Shortly before its former CEO stands trial on criminal charges, Raiffeisen is lodging a suit for civil damages as part of the proceedings.
Various private plaintiffs including Raiffeisen Switzerland and payments specialists Aduno (now named Viseca) are asking ex-bank CEO Pierin Vincenz and asssociate Beat Stocker for 25 million Swiss francs ($27 million) in damages, «SonntagsBlick» (in German) reported.
The group is piggybacking criminal charges against the duo with civil charges – an unconventional route that is based in fear that the statute of limitations on the allegations could lapse, according to the outlet. Both Vincenz and Stocker deny the charges; the trial under begins on Tuesday in Zurich.
Aduno set the investigation into motion in December 2017 with a criminal complaint against Vincenz and against Stocker, its ex-CEO. Raiffeisen joined the following year. Both are already civil party to the criminal charges under prosecutor Marc Jean-Richard-dit-Bressel.
