ZURICH (Reuters) – Swiss judges will deliver their verdict on Wednesday following the trial of a former top banker and six others who have seized the country with allegations of fraudulent deals and huge club bills of striptease since it started in January.
In one of the country’s highest-profile corporate crime trials in decades, the Zurich District Court will decide whether to convict Pierin Vincenz, a former ‘Swiss Banker of the Year’ accused of earned millions through illicit transactions while he was managing director of the cooperative lender Raiffeisen Switzerland.
All seven defendants deny the allegations against them.
Prosecutors are seeking nearly 70 million Swiss francs ($75 million) in total assets from the seven defendants, as well as financial penalties and prison terms ranging from two to six years for all but one.
The case involves conflicts of interest over agreements between a number of companies in which Vincenz and another defendant were involved. The two men are also accused of forgery.
The trial, which was moved from a courthouse to Zurich’s Volkshaus theater due to intense public interest, also shed light on the 65-year-old’s alleged misuse of government spending. business.
Vincenz told the court when he started in January that an expense bill of nearly 200,000 Swiss francs for strip club visits was largely business-related, while a 700-franc dinner with a woman he met on the dating app Tinder was justified because he was considering her for a real estate job.
Five other defendants are charged with anti-competitive behavior and acting as accomplices to business deals, through which prosecutors allege they made millions.
($1 = 0.9293 Swiss francs)
(Reporting by Brenna Hughes Neghaiwi; Editing by Alexander Smith)
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