Banker Pierre Mirabaud before Federal Criminal Court: Bribery and Money Laundering
The former president of the Swiss Bankers Association must answer for corruption in early September. He is alleged to have offered Kuwaiti officials 82 million francs in kickbacks.
Geneva Private Banker Must Appear Before Federal Criminal Court Over Kuwait Affair
The 77-year-old Geneva banker Pierre Mirabaud stands before the Federal Criminal Court in early September — on charges of bribing a foreign public official and serious money laundering. According to Google News CH — Crime (de), Mirabaud allegedly offered the former director-general of the Kuwaiti social security authority PIFSS unlawful kickbacks totalling 82 million francs.
In return, the high-ranking official is said to have invested around half a billion dollars of PIFSS funds with the Geneva private bank Mirabaud. This information was first published by "24 Heures", "Tribune de Genève" and the online platform "Gotham City"; the indictment is also available to the news agency Keystone-SDA.
The Federal Public Prosecutor's Office initiated criminal proceedings in 2021 and is requesting a custodial sentence of 24 months on probation. The offences are said to have taken place between 2000 and 2012.
Mirabaud has admitted the allegations and requested a simplified procedure before a single judge. Additionally, he paid PIFSS compensation of 42 million francs.
PIFSS is a Kuwaiti state institution, comparable to the Swiss AHV/IV, which insures against income loss through old age, disability or death. Mirabaud was formerly president of the Swiss Bankers Association.
Source: Google News CH — Crime (de)