Former Raiffeisen CEO Pierin Vincenz has been released from custody – after 106 days behind bars. His business partner has also been set free.
Pierin Vincenz, the disgraced former head of the Raiffeisen bank in Switzerland, has been released from custody on Tuesday, the Zurich attorney general office reported on Wednesday (in German). The authorities also released his business partner Beat Stocker.
The painstaking probe of the activities of the two managers has reached far enough to warrant the release, said the office. The investigation against all involved parties is still ongoing.
A Tiny Cell
Vincenz confirmed in a statement made available to finews.com that he had been released: «I would not wish on anyone to experience what I have in the past weeks. Given the circumstances, I am reasonably well and I thank all those who stood by me in this difficult period and supported me.»
The former Raiffeisen boss spent 23 hours of his days in his cell of 10 square meters. He was let out of his cell for an hour a day.
Denying Allegations
Vincenz was taken by surprise in February, when the Zurich authorities arrested him pending their investigation into his business dealings that includes questions about alleged personal enrichment.
In today’s statement, Vincenz says that the time he spent behind bars had been excessive because the events covered by the probe had occurred years ago and had been documented in great detail.
He continues to deny the allegations leveled against him and promises to fight with all measures available to him.
