Former Banking CEO Claimed $280,000 He Spent As Strip Clubs Was A ‘Business Expense’

A former banking SEO from Switzerland has claimed that $280,000 he spent at strip clubs were “business expenses” as he faces a criminal fraud trial. Pierin Vincenz headed up Raiffeisen Switzerland has made no shortage of ludicrous claims about his mismanagement about company funds, but his love of exotic dancers has gotten the most attention, the Vancouver Sun reports.

  1. Vincenz seems to have spent a ton of money on women in general. The New York Post notes that on one occasion, the CEO spent $760 on dinner with a woman he met on Tinder. It wasn’t a date, he insisted – he was thinking of hiring her for a real estate job, which made it a business expense.
  2. He got into plenty of trouble with strippers. It was discovered in court that at one point, a hotel charged Vincenz and a stripper $4,500 in damages because of a “massive fight” they had in a room they’d booked.
  3. Vincenz was up to all kinds of criminal mischief. In addition to using company funds to pay for his lavish lifestyle (and seeming sex addiction), he is on trial with seven other top bankers and associates for enrichment, fraud, and mismanagement. Officials believed that he made plenty of secret deals on the side in addition to the ones he made on behalf of the company.
  4. He’s claiming innocence, of course. But then who would believe that he would ever admit wrongdoing? These guys never do.
Jennifer Still is a writer and editor with more than 10 years of experience. The managing editor of Bolde, she has bylines in Vanity Fair, Business Insider, The New York Times, Glamour, Bon Appetit, and many more. You can follow her on Twitter @jenniferlstill