The former head of Raiffeisen Switzerland is out of prison and outspoken as ever. Will his strategy of resistance against all odds keep him out of harms’ way?

The 106 days behind bars, with 23 hours confined to a cell of 10 square meters – Pierin Vincenz, 62, a man used to the comforts of life in Switzerland, has had a tough three and a half months in a Zurich remand prison facility. You would have been forgiven for thinking that he urgently needs some time to reflect and recover.

Not so the former Raiffeisen CEO. Hardly out of prison, he sent a message in his customary uncompromising style: «From my point of view, the detention was unnecessary and in its length totally excessive,» Vincenz said in a statement on Wednesday.

He continued to state his innocence, adding that the opening of an investigation had come as a complete surprise, that the issues in question occurred years back and had been documented in detail.

No Peanuts for Sure

Vincenz went on to deny the allegations leveled against him and pronounced his intention to fight them tooth and nail. Similar in tone and content to the message sent to the media in February when he was apprehended by the authorities.

The allegations are by no means just peanuts: the attorney office in Zurich claims that he is guilty of unfaithful stewardship in connection with the purchase of stakes by Raiffeisen and Aduno, whose chairman he was until 2016. Vincenz is claimed to have taken a personal profit from the acquisitions that his employers made, according to reports in the local media.

Further allegations include the blurring of the line between private and professional, with investigators allegedly looking into his expenses at Raiffeisen and Aduno.

The Easier Part Is Done

Vincenz is presumed innocent until proven guilty. The attorney general in Zurich may have kept Vincenz and his business partner, Aduno boss Beat Stocker, behind bars for a relatively long time. But investigators in Switzerland can apply for an extension of custody by referring to a danger of collusion and will usually get the application granted.

After the initial phase of investigation, Marc Jean-Richard-dit-Bressel, the Zurich attorney, now has to turn allegation into a case that will hold in court. Not so easy with complicated business deals involved. After all, to get a conviction, the authorities have to prove that Vincenz committed a crime.

The prominent ex-banker has chosen a formidable defense lawyer to stand by his side: Lorenz Erni, one of the best of his trade in Switzerland.

No Letting Up From Any Side

The attorney in Zurich is however equally confident to reach a conviction, but admits that the investigations are utterly complicated. The probe is at an advanced stage, thanks to the effort of the investigators and the police in Zurich, Marc Jean-Richard-dit-Bressel said on Wednesday. He didn’t reveal his next steps beyond saying that the investigation had allowed him to have Vincenz set free, on certain conditions.

Vincenz won’t likely remain as reluctant about the future of the proceedings. He immediately went out with his statement – and in keeping with how he pursued a career in banking, he won’t let up soon.