Zurich prosecutors have launched an investigation into former Raiffeisen Gruppe Switzerland
Prosecutors said they were investigating a former chairman and a former board member at Aduno, as well as three of its business associates, and had conducted searches at homes and offices relating to the probe. Vincenz had been the only chairman of Aduno before he stepped down in 2017, the newswire noted.
In a Feb. 28 statement, Raiffeisen said it has also joined the investigation as a private complainant and will lodge a criminal complaint against Vincenz and other individuals that may be involved in the matter, finews.com reported the same day.
Meanwhile, Aduno said it had filed a complaint against Vincenz, and that it had notified authorities in December 2017 that it suspected Vincenz and an unnamed individual of acting in bad faith, finews.com wrote in a separate report.
Vincenz has been dogged by suspicions of conflict of interest during his tenure at Raiffeisen. The Swiss Financial Market Supervisory Authority, or FINMA, had launched enforcement proceedings against Vincenz but later dropped the investigation in December 2017 after he resigned from executive management positions at financial institutions supervised by the regulator.
Raiffeisen Schweiz Genossenschaft
