Strip-Bar Habit Worth $220,000 Hangs Over Swiss Banker on Trial
Can there be much Controversy about how Mr. Vincenz got himself in such a pickle? Choices he made is the only explanation. Something led him to believe that those choices were Invisible and hidden from view and that he could make them free from fear of discovery.
What is now visible is most likely only the tip of the iceberg, so how did he get on this path? He still managed to reach the corporate heights. Must be very smart in certain ways, charming and disarming. Would have had a long and very good life.
What he obviously lacked was the understanding that the seeds planted in one’s garden of life by their thoughts, words and actions, will eventually show up. That, as Emerson said, “The result is already in the seed. It is just difficult to know when it will bloom.” For Mr. Vincenz, the time is nigh!
https://www.bloomberg.com/news/articles/2022-01-25/strip-bar-habit-worth-220-000-hangs-over-swiss-banker-on-trial?sref=gM6jgoKs
Strip-Bar Habit Worth $220,000 Hangs Over Swiss Banker on Trial
- Ex-bank boss, adviser accused of $27 million in illicit gains
- Pierin Vincenz resigned as Raiffeisen Switzerland CEO in 2015
The former head of a Swiss bank goes on trial Tuesday charged with enriching himself and others through millions of dollars in side deals and illegal expenses including racking up a 201,267 Swiss-franc ($220,000) tab at a string of cabarets, strip clubs and “contact bars.”
Pierin Vincenz, former chief executive officer of Raiffeisen Switzerland, and bank consultant Beat Stocker are accused by Zurich prosecutors of together making unlawful gains of some 25 million Swiss francs. Vincenz illegally skimmed 8.4 million francs from deals he did during his 15 year tenure as CEO, they say.
The total of 560,709 francs in improper expenses that he charged his employer amount to commercial fraud and misappropriation, according to the 365-page indictment. Stocker obtained close to 16 million francs illegally and also ran up nearly 100,000 francs in unlawful expenses, said prosecutors who recommended a six-year prison sentence for both men.
Although Raiffeisen is not listed and is sometimes confused with the larger Vienna-based Raiffeisen Bank International AG, the case has attracted wide attention locally because of the ubiquity of the institution’s brand. Made up of 225 autonomous banks, the red Raiffeisen logo is visible in 800 towns and villages across Switzerland.
Tinder Tab
In addition to the strip club spending, Vincenz is accused by prosecutors of billing Raiffeisen 251,023 Swiss francs for flights, accommodation and meals with family and friends. He also allegedly charged the bank 3,778 francs for the cost of repairing a hotel room at the five-star Zurich Park Hyatt trashed in 2014 during a “massive dispute” between Vincenz and a strip club dancer he was dating at the time. Then in 2015, according to prosecutors, he billed Raiffeisen 700 francs for dinner and drinks for a woman he met on the dating app Tinder.
Lorenz Erni, a lawyer for Vincenz, declined to comment. Lawyers for Stocker did not return messages seeking comment.
The bulk of Vincenz’s alleged gains, however, came from money he and Stocker misappropriated during acquisitions he oversaw during his tenure as CEO, say prosecutors. Vincenz, now 65, led an expansion of the bank starting in 1999 aimed at bulking up its retail presence against larger rivals Credit Suisse Group AG and UBS Group AG.
That strategy succeeded, insofar as Raiffeisen was classified in 2014 by the Swiss central bank as ‘systemically important’ and therefore subject to tougher rules including a higher capital ratio. But a big part of the growth strategy was building stakes in companies which led to a concentration of top management roles and then rumblings in Swiss financial circles about possible conflicts of interest.
Major Failings
In 2016, banking regulator Finma opened an investigation. Officials were specifically interested in the nature of deals struck through Investnet Holding AG, an investment company Vincenz was buying shares in but which was majority owned by Raiffeisen. Finma would go on to conclude that Raiffeisen was responsible for “major corporate governance failings” for not adequately supervising Vincenz.
The St. Gallen, Switzerland-based bank declined to comment ahead of the trial. Raiffeisen said it has implemented audit reform measures requested by Finma, which have been reviewed by the regulator and “deemed appropriate.”
In early 2018, Zurich prosecutors opened a criminal probe into those deals and Vincenz was arrested. He was released in mid-June after more than 100 days in custody. Raiffeisen went on to file a criminal complaint against him and is a private plaintiff in the case.
The trial of Vincenz, Stocker and five other individuals in the case, who can’t be named under Swiss reporting restrictions, is scheduled to run all week.
Kirkus Reviews, the gold-standard for independent & accurate reviews, has this to say about
What Goes Around Comes Around:
A stable, positive, non preachy, objective voice makes the book stand apart from others in the genre. A successful guide that uses anecdotes to reveal powerful truths about life.
~ Kirkus Reviews
“I’ve read a number of books that focus on sharing a similar message, including “The Secret” by Rhonda Byrne, “The Answer” by John Assaraf & Murray Smith, “The Celestine Prophecy” by James Redfield, “Think and Grow Rich,” by Napoleon Hill, and I must say that I find Rob’s to be my favorite.” – Sheryl Woodhouse, founder of Livelihood Matters LLC
Strip-Bar Habit Worth $220,000 Hangs Over Swiss Banker on Trial
Strip-Bar Habit Worth $220,000 Hangs Over Swiss Banker on Trial
So, Chapter Two of the Jeffrey Epstein saga comes almost to a close. Almost, because we won’t know the final ending until we hear the sentencing, which is likely to be a doozie!
Sure, there will be an appeal and there have been shockers in the past, think R. Kelly in 2008. But this is not likely to be one of those.
So Ghislaine, was it worth it? The ride you had with your buddy Jeff, that is? Did the two of you simply mock the concept of Karma, Cause & Effect, What Goes Around Comes Around, different ways to say the same thing? Did you just buy his line that you were “Teflon Twins” and they’d never get you. What?
Please tell us, explain so there’s some way to think something good and worthwhile about at least you, cause its sure hard to find in this wreckage!
Colombo Family Crime Boss and 12 Others Are Arrested, Prosecutors Say
An indictment unsealed on Tuesday accuses the organization of orchestrating a two-decade scheme to extort a labor union.
By Rebecca Davis O’Brien
For two decades, the leadership of the Colombo crime family extorted a Queens labor union, federal prosecutors said — an effort that continued unabated even as members of the mob clan cycled through prison, the family’s notorious longtime boss died, and as federal law enforcement closed in.
Over time, what began as a Colombo captain’s shakedown of a union leader, complete with expletive-laced threats of violence, expanded into a cottage industry, prosecutors said, as the Colombo organization assumed control of contracting and union business, with side operations in phony construction certificates, marijuana trafficking and loan-sharking.
On Tuesday, 11 reputed members and associates of the Colombo crime family, including the mob clan’s entire leadership, were charged in a labor racketeering case brought by the U.S. attorney’s office in Brooklyn.
All but two of the men were arrested Tuesday morning across New York and New Jersey, prosecutors said. Another was surrendered to the authorities on Tuesday; another defendant, identified as the family consigliere, remained at large, prosecutors said.
The indictment accuses the Colombo family of orchestrating a two-decade scheme to extort an unnamed labor union that represented construction workers, using threats of violence to secure payments and arrange contracts that would benefit the crime family.
The charges are an ambitious effort by the U.S. attorney’s office in Brooklyn and the Federal Bureau of Investigation to take down one of the city’s five Mafia families. In addition to the union extortion scheme, which is the heart of the racketeering charge, the indictment charges several misdeeds often associated with the mob, including drug trafficking, money laundering, loan-sharking and falsifying federal labor safety paperwork.
Detention hearings for the defendants in Brooklyn federal court continued into the evening Tuesday, as they entered not-guilty pleas to the charges; prosecutors had asked the court to keep 10 of the defendants in custody.
“Everything we allege in this investigation proves history does indeed repeat itself,” Michael J. Driscoll, F.B.I. assistant director-in-charge, said in a statement. “The underbelly of the crime families in New York City is alive and well.”
Around 2001, prosecutors said, Vincent Ricciardo — a reported captain in the family, also known as “Vinny Unions” — began to demand a portion of a senior labor union official’s salary. When Mr. Ricciardo was convicted and imprisoned on federal racketeering charges in the mid-2000s, prosecutors said, his cousin continued to collect those payments.
Starting in late 2019, prosecutors said, the senior leadership of the Colombo family became directly involved in the shakedown, which extended to broader efforts to siphon money from the union: for example, manipulating the selection of union health fund vendors to contract with entities connected to the family, and diverting more than $10,000 each month from the fund to the family.
Andrew Russo, 87, who prosecutors describe as the family boss, is accused of taking part in those efforts, as well as a money-laundering scheme to send the proceeds of the union extortion through intermediaries to Colombo associates. He was among nine defendants charged with racketeering.
Mr. Russo appeared in court virtually from the hospital Tuesday; he is set to be detained upon his release, pending a future bail hearing.
The family’s infamous longtime boss, Carmine J. Persico, died in federal custody in North Carolina in March 2019.
Federal law enforcement learned of the extortion scheme about a year ago, prosecutors wrote in a court filing Tuesday; investigators gathered thousands of hours of wiretapped calls and conversations recorded by a confidential witness, wrote the prosecutors, who also described law-enforcement surveillance of meetings among the accused conspirators.
The authorities said they repeatedly captured Mr. Ricciardo and his associates threatening to kill the union official. “I’ll put him in the ground right in front of his wife and kids,” Mr. Ricciardo was recorded saying in June.
On another occasion cited by prosecutors in the memo seeking his detention, Mr. Ricciardo directed the union official to hire a consultant selected by the Colombo family, saying: “It’s my union and that’s it.” Prosecutors said his activities were overseen by a Colombo soldier and the consigliere who remains at large.
Much of the activity outlined in the indictment took place while the defendants were either in prison or on supervised release for prior federal mob-related convictions. Theodore Persico Jr., described as a family captain and soldier, was released from federal prison in 2020 and, despite a directive not to associate with members of organized crime, “directed much of the labor racketeering scheme,” prosecutors said.
Mr. Persico, 58, is set to inherit the role of boss after Mr. Russo, prosecutors wrote.
Several of the defendants were named in what prosecutors described as a fraudulent safety training scheme, in which they falsified state and federal paperwork that is required for construction workers to show they have completed safety training courses.
One of the defendants, John Ragano — whom prosecutors say is a soldier in the Bonanno crime family — is accused of setting up phony occupational safety training schools in New York, which prosecutors said were “mills” that provided fraudulent safety training certificates to hundreds of people.
In October 2020, prosecutors said, an undercover law enforcement officer visited one of the schools in Ozone Park, Queens, and received, from Mr. Ricciardo’s cousin, a blank test form and an answer sheet; weeks later, the agent returned to pick up his federal safety card and paid $500.
The purported schools were also used for meetings with members of La Cosa Nostra — the group of crime families commonly known as the Mafia — and to store illegal drugs and fireworks, according to the indictment.
Mr. Ragano wasn’t charged on the racketeering count, although prosecutors also sought his detention pending trial. In addition to the racketeering count, several defendants, including Mr. Ricciardo and his cousin, were charged with extortion, conspiracy, fraud and conspiracy to make false statements.
William K. Rashbaum contributed reporting.
Correction:
An earlier version of this article misstated the number of people identified in an indictment as members of the Colombo crime family. It is 11, not more than a dozen.

