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UBS could incur costs of around CHF 10 billion if it relocates abroad, with potential takeover risks looming due to higher capital requirements. Meanwhile, Credit Suisse faces significant losses from inadequate controls, totaling CHF 22 billion over 15 years. Swissquote is focusing on digital banking growth, particularly through its financial app Yuh, while Stadler Rail defends its growth strategy despite market challenges, aiming for a targeted EBIT margin of 6 to 8 percent in the medium term.
Pierin Vincenz, former Raiffeisen CEO, faces a three-year and nine-month prison sentence for secretly investing in companies acquired by Raiffeisen. The Zurich High Court is advancing the trial despite defense attempts to challenge the indictment and claim bias in the prosecution. The defendants' appeal to recuse the public prosecutor's office has been rejected, and the court emphasized that the unconventional involvement of an external expert was justified due to the complexity of the case.
Pierin Vincenz faces renewed legal challenges as the Federal Supreme Court has overturned the Zurich High Court's decision to send his case back due to alleged indictment flaws. This reinstates the district court's judgment, which sentenced him to three years and nine months in prison. The High Court will now review the case's substance for a final ruling.
Former Raiffeisen boss Pierin Vincenz has been convicted in the first instance, marking a significant reversal in his case. The Federal Supreme Court upheld the Zurich District Court's ruling, rejecting the Zurich High Court's criticism of the indictment and allowing the appeal proceedings to continue.
The Swiss Federal Supreme Court has upheld Pierin Vincenz's first-instance conviction for fraud and bribery, rejecting the Zurich Supreme Court's procedural dismissal. The case will return to the Supreme Court for further consideration, as the indictment was deemed sufficiently detailed and the defendants' rights were upheld.
Pierin Vincenz's first instance conviction has been upheld by the Federal Supreme Court, reversing the canton's Supreme Court's earlier decision that quashed it on procedural grounds. The Zurich Public Prosecutor's Office's appeal will now proceed in court.
The Federal Supreme Court has reinstated the Zurich District Court's conviction of Pierin Vincenz, sentencing him to three years and nine months in prison for embezzlement, fraud, and other charges. The Zurich Cantonal Court must now proceed with the appeal process after previously annulling the conviction due to alleged procedural flaws. Vincenz and his former business partner Beat Stocker were accused of profiting illegally through undisclosed stakes in companies acquired by Raiffeisen Bank and Aduno, with Vincenz also facing scrutiny for questionable expense claims.
The Federal Supreme Court has reinstated the District Court of Zurich's judgment against former Raiffeisen Bank CEO Pierin Vincenz, who was previously found guilty of fraud and bribery. Vincenz received a 45-month prison sentence for misusing business credit cards and undermining his employer's interests. The case has been referred back to the Zurich High Court for reassessment following the Supreme Court's ruling.
The Federal Supreme Court has reinstated the 2022 conviction of former Raiffeisen CEO Pierin Vincenz, sentencing him to three years and nine months in prison for fraud, qualified mismanagement, and passive private corruption. The case will now return to the Zurich Cantonal Court for the appeal process, following a previous overturning due to procedural flaws. The court found that the indictment met legal requirements, allowing for an effective defense.
The Federal Supreme Court has reinstated Pierin Vincenz's conviction, sentencing him to three years and nine months in prison for embezzlement, fraud, and other charges. The Zurich Cantonal Court must now proceed with the appeal process after previously annulling the conviction due to alleged procedural flaws. Vincenz and his former business partner, Beat Stocker, were accused of making illegal profits through undisclosed stakes in companies acquired by Raiffeisen Bank, with Vincenz also facing scrutiny for personal expenses linked to red-light clubs.
Pierin Vincenz
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