Pierin Vincenz asked a Swiss judge to postpone his criminal trial, after a co-defendant came down with COVID-19.
The former CEO of Raiffeisen, Pierin Vincenz, asked for his criminal trial which began in Zurich on Tuesday to be postponed. The request follows district court judge Sebastian Aeppli's allotment of four more days to the trial, which is based on a nearly 400-page indictment after years of investigation.
Vincenz's lawyer asked for the postponement because a co-defendent has apparently contracted COVID-19. Vincenz, long-time associate Beat Stocker, and five others are accused of enriching themselves with covert side deals while at Raiffeisen. They deny the charges.
The indictment offers a revealing glimpse into Vincenz's 16-year CEO tenure at Raiffeisen – a cooperative bank – and illustrating how the long-standing CEO was able to shift influence from member banks as well as his own board.
