Former Raiffeisen CEO's fraud trial begins in Zurich after earlier conviction annulled

The Zurich Supreme Court has begun the appeal trial for former Raiffeisen CEO Pierin Vincenz and Beat Stocker, who are accused of orchestrating company buyouts while secretly holding stakes. Vincenz, dressed in a suit and appearing impassive, arrived at the court, carrying a bag similar to the one he had during his initial 2022 trial.

Four years ago, Vincenz was sentenced to 3 years and 9 months in prison for fraud, corruption, and disloyal management. He appealed this judgment, as did other defendants, including Beat Stocker, a former executive at Aduno, who received a four-year sentence. The defense team contends that some of the alleged offenses are past the statute of limitations and disputes the prosecutor's indictment.

The trial, presided over by Judge Christian Prinz alongside two colleagues, is scheduled to last at least two weeks. Due to high public interest, proceedings are being live-streamed to two additional courtrooms. A translator has been provided for a French-speaking defendant, a detail noted as significant given that the initial 2024 district court judgment was annulled partly due to translation problems.

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Given the very tight schedule for the coming days, there will be no decision at the end of this period.