Geneva banker Pierre Mirabaud appears in court over corruption and money laundering
The 77-year-old Pierre Mirabaud must answer to the Federal Criminal Court in early September. He admitted to bribery and money laundering in connection with Kuwait.
Mirabaud trial: Former bank president admits to bribery of Kuwaiti official
Pierre Mirabaud, former president of the Swiss Bankers Association, must answer to the Federal Criminal Court in early September. According to Google News CH — Crime (de), citing "24 Heures", the "Tribune de Genève" and the "Gotham City" platform, the 77-year-old Geneva banker is said to have offered impermissible rebates totalling 82 million francs to the former chief executive of the Kuwaiti social security authority PIFSS.
In return, the high-ranking official is said to have invested approximately half a billion dollars of PIFSS funds at the Geneva private bank Mirabaud.
According to the indictment, a copy of which is also held by news agency Keystone-SDA, the criminal proceedings were initiated in 2021 by the Office of the Attorney General of Switzerland. In addition to bribery of a foreign public official, Mirabaud is accused of an aggravated case of money laundering. The Office of the Attorney General of Switzerland is seeking a custodial sentence of 24 months with a suspended execution.
Mirabaud has admitted to the acts, which occurred between 2000 and 2012. At his request, the case is being judged in simplified proceedings by a single judge. Furthermore, he has already paid compensation of 42 million francs to PIFSS.
PIFSS is a state social security authority in Kuwait that covers income losses due to old age, disability or death.
Source: Google News CH — Crime (de)