Handcuffed house: sale of Vincenz’s villa in Ticino failed

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The sale of their villa will help the fallen Raiffeisen king Pierin Vincenz (67) pay off a mountain of debt. But as the past few months have shown, it turns out to be difficult. There are several reasons for this – not all of them have to do with the luxury real estate market, which is currently very in demand.

Two of Vincenz’s villas hit the market last year. One is at the exclusive Sonnenhang in low-tax Niederteufen AR and costs more than 12 million Swiss Francs. The second villa, which is slightly smaller, is in Morcote TI and is said to have been bought for CHF 4.8 million last year. But the keys were never delivered.

villas are connected

“The sale was unsuccessful,” says one legal expert familiar with the matter. An insider wants to remain anonymous. What happened? Both properties are currently owned by Vincenz and his ex-wife, Nadia Ceregato Vincenz. However, you cannot dispose of it. Because the assets of the former CEO of Raiffeisen were frozen with the title deed.

This makes selling real estate a marathon filled with many obstacles. Too many to find buyers? Quite possible, says the legal expert. Rationale: “Those who have been harmed have a say,” says an insider.

Bank accounts are still blocked.

Vincenz was sentenced to three years and nine months in prison in April 2022. Convicted of embezzlement, qualified fraudulent business deals, and forgery of documents. Vincenz’s bank accounts and villas have likely been blocked for years, as the former CEO of Raiffeisen upheld the decision.

This actually prohibits the former banker from selling his real estate. It is still called. Vincenz commissioned luxury estate agent Ginesta for his former dream villa in Niederteufen. He told Blick that if there were concrete prospective buyers, the court would apply to have the property ban lifted.

Victims have a say

However, the consent of all the injured parties must be obtained in order to lift the ban on property. At first glance, they should not mind selling villas. Especially since the proceeds from the sale will initially go to a blocked account and ultimately benefit them.

But there’s a problem: Creditors will only accept the sale of the homes if the price is right. “If the buyout offer is below market value, they will exercise their right to be heard,” the insider said.

Finally, the court decides

That’s exactly what happened in the purchase offer for the villa in Morcote TI. Vincenz found a buyer for the property, which was due to be renovated in July 2022. According to “SonntagsZeitung”, Vincenz’s lawyer, Lorenz Erni (72), has applied for permission to sell the property. Was the request denied? In any event, there has never been a change of ownership.

Even if he needed the money urgently, Vincenz wouldn’t get anything from the sales. According to his own statements, his debt has exceeded 23 million francs. Among the creditors are the companies Raiffeisen and Viseca which suffered losses. There are also requests from business leaders such as Peter Spuhler (64) and Dölf Früh (71). Spuhler loaned Vincenz 6.5 million francs for the villa in Teufen. Früh lent him 4.3 million francs for the house in Morcote.

Source :Blick