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Zurich prosecutors question Raiffeisen Schweiz's CEO in criminal probe

Raiffeisen Schweiz Genossenschaft's current CEO, Patrik Gisel, has been questioned by Zurich prosecutors as part of an investigation into the Swiss lender's former head, Pierin Vincenz, finews reported, citing a statement from the bank.

Raiffeisen Schweiz noted that no criminal proceedings have been launched against Gisel, while adding that it denies asking prosecutors to seal certain documents or evidence. The bank added it is supporting the authorities with everything at its disposal, according to the report.

In late February, Zurich prosecutors launched a probe over alleged breach of trust against Vincenz linked to payments made by investment firms Aduno Holding AG and Investnet AG. The investigation against Vincenz, who used to sit on the boards of Aduno and Investnet, resulted in his arrest and has reportedly put Gisel, a one-time chairman of Investnet, under enormous pressure from politicians and the public.

Earlier in March, Johannes Rüegg-Stürm resigned as chairman of Raiffeisen Schweiz because of the prosecutor's probe against Vincenz. Rüegg-Stürm was replaced by Pascal Gantenbein on an interim basis.