Former Swiss Banker Jailed After Putting Strip Clubs on Expenses

The Zurich court had sentenced a former head of a Swiss bank to nearly four years in prison on Wednesday for charges including fraud after he claimed more than 200,000 Swiss francs to cover his visits to strip clubs.

Pierin Vincenz, the former CEO of Raiffeisen Switzerland, had used his company’s credit card to pay for strip clubs, Tinder dates, holidays, and dinners during his 15-year tenure.

Vincenz, 65, claimed almost 7.8 million Swiss francs on his side deals and illegal expenses, including a 202,000 Swiss francs tab at numerous cabarets and strip clubs.

In January, Vincenz told the Zurich district court that his expenses bill for strip club visits was for business purposes.

Vincenz also said that a 700-franc dinner he had with a woman he met on the dating app Tinder was justified because Vincenz was considering her for a job. 

Vincenz added that a trip to Australia took place because he needed to examine the country’s cash machines.

Vincenz was sentenced to three years and nine months in jail after being found guilty of multiple charges, including embezzlement, fraud, and forgery of documents.

Vincenz was also fined 840,000 francs and ordered to pay nearly 1.6m francs in damages to compensate firms in which he was involved.

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