Pierin Vincenz is still embroiled in a long legal battle
Keystone / Michael Buholzer
Pierin Vincenz, the former CEO of Swiss banking group Raiffeisen, must pay a fine of almost CHF1 million for tax evasion, according to the SonntagsZeitung newspaper.
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The Swiss Federal Court is reported to have handed down this sentence in a judgment that has been seen by the Tamedia newspaper group. The procedure was previously unknown because tax trials in Switzerland are not public.
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Vincenz allegedly failed to declare CHF3.4 million in his tax return. In addition to the fine, he also faces backdated taxes, according to the SonntagsZeitung. Vincenz denied the allegations during the proceedings.
The former Raiffeisen CEO was exposed after tax investigators from canton Appenzell Outer Rhodes read a Zurich criminal indictment and discovered suspicious payments. In 2022, Vincenz and other business partners were found guilty of fraud and embezzlement, but after appeals were lodged, the case is still ongoing in Zurich.
The most recent verdict by the Swiss Supreme Court in February 2025, which went against Vincenz, has made the CHF1 million tax fine legally binding, reports the SonntagsZeitung.
Meanwhile, Vincenz remains on trial for allegedly enriching himself during a series of acquisitions while serving as CEO of Raiffeisen. The next appeal hearing is scheduled for August.
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Zurich court overturns conviction of Swiss banker Pierin Vincenz
Adapted from German by AI/mga
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