Pierre Mirabaud convicted of bribery: 82.3 million francs to Kuwait
The Federal Criminal Court in Bellinzona convicted former banker Pierre Mirabaud to two years' imprisonment suspended for bribery and money laundering.
Former bank president Pierre Mirabaud sentenced to conditional imprisonment
The Federal Criminal Court in Bellinzona has condemned Pierre Mirabaud, the former Geneva private banker, to a suspended sentence of two years' imprisonment for bribery and money laundering. According to spiegel.de, the 77-year-old is said to have paid a total of 82.3 million francs to a Kuwaiti government official between 2000 and 2012 — in return, the Mirabaud bank received contracts worth hundreds of millions of francs.
The abbreviated proceedings in Bellinzona lasted only half a day. The Federal Prosecution Office requested exactly that 24-month suspended sentence, which the court ultimately imposed. In justification, it cited the defendant's age, absence of previous convictions and his cooperation with investigators.
Mirabaud's lawyer Saverio Lembo stated: "He now accepts the consequences of his actions, entirely in keeping with the principles of personal responsibility which he upholds."
Mirabaud was president of the Swiss Bankers Association from 2003 to 2009 and withdrew as a partner from the bank in 2009; until 2012 he remained active as an adviser. The Mirabaud bank itself is not a party to the proceedings and declined to comment.
The Kuwaiti official, now deceased, was convicted in absentia in Kuwait of corruption and embezzlement of public funds.
Founded in Geneva in 1819, the Mirabaud bank is one of Switzerland's oldest private banks. The financial market regulator Finma confiscated improperly obtained profits of 12.7 million francs from the institution in 2024 due to violations of money laundering legislation. The affected business relationships accounted for roughly ten per cent of the bank's assets under management at times.
Source: Google News LU DE