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The Zurich prosecution charges against the former Raiffeisenbank director are harsh, says business lawyer Peter V. Kunz. These are serious economic crimes.
The Zurich prosecutor’s office has been investigating for almost two years and has now brought charges against former Raiffeisen boss Pierin Vincenz and former boss Aduno Beat Stocker, as well as others around them.
Now the judges have to decide whether Vincenz and Stocker abused their position at the time to damage their own company and enrich themselves personally. The two main suspects were released in June 2018.
Peter V. Kunz
Commercial lawyer
SRF News: How do you assess the charges against Pierin Vincenz by the Zurich prosecutor’s office?
Peter V. Kunz: It is the first time in Switzerland that a former top banker has been charged in criminal court. I am amazed at the specific criminal charges that are being made. Also about the number of people who are now being sued.
Are criminal charges more difficult than you expected?
In recent years, the most talked about was the unfair agency. This is also a white collar crime, but on a fairly medium scale. Now, however, he is accused of document falsification, commercial fraud and the like. This is a felony financial crime charge.
The Zurich prosecution charge for commercial fraud prefers a sentence of up to 10 years in prison. That is very high.
After all that has been heard in the media in recent years, I am surprised by these harsh accusations, which now pose a great threat to the accused.
What do you think of the commercial fraud charge?
Fraud as such is a serious crime, and here the charge is even a commercial act. That’s almost a professional criminal charge.
Forgery of documents by a banker is probably one of the worst possibilities that you can blame. In recent years, there has been more talk of unfair agency. That wasn’t pretty either, but it probably would have suggested a conditional sentence.
So does that mean that Pierin Vincenz faces up to 10 years in prison?
For first-time offenders, a prison sentence is generally only pronounced conditionally, if at all. But when I see the number and severity of the charges, I have to say that if he was found guilty, there would actually be actual imprisonment.
Of course, these are just accusations and nothing is proven. Naturally, the presumption of innocence also applies to Mr. Vincenz and the other defendants.
What can you say about each of the charges?
The charge is, of course, general. That can mean all or nothing. These are the accusations. Ultimately, however, the prosecution does not decide whether Vincenz or other defendants are convicted.
Your job is not done simply by filing a charge, but there will be a lengthy criminal case with face-to-face interviews in court. And, ultimately, the judge must decide whether there is a criminal offense or not.
The prosecution looks very, very far from the window. You have to be pretty sure you have good evidence. Because if there is no conviction, it is a great defeat for the prosecutor.
How do you assess the chances of Pierin Vincenz being convicted?
It must be said that the Zurich prosecutor’s office is betting quite high here. It is a well known case, it is a defendant that everyone in Switzerland knows. He was detained for more than 100 days.
If there really were an acquittal, the prosecutor would already have a big egg on his face. With that in mind, you have to say: This is a high level of poker. No one can say how this will end today because we don’t know the evidence.
The interview was conducted by Harry Stitzel and Liz Horowitz.
Tagesschau, November 3, 2020; verse
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