Swiss Banking Scandal: The Legacy of Pierre Mirabaud
- On Tuesday, September 8, 2026, the Federal Criminal Court handed former banker Pierre Mirabaud a two-year suspended sentence for corruption, upholding facts set out by the Office of the Attorney General of Switzerland.
- Prosecutors allege Mirabaud made hundreds of payments totaling CHF82 million to a Kuwaiti official between 2000 and 2012, securing over $500 million in investments for Bank Mirabaud.
- Mirabaud, 77, accepted the facts of the case, with lawyer Saverio Lembo noting the sentence reflected his cooperation; prosecutors sought the suspended term citing his age and lack of prior convictions.
- Swiss financial regulator FINMA confiscated 12.7 million francs in unlawfully generated profits from Bank Mirabaud in 2024, following an investigation into business relationships accounting for nearly 10 per cent of total assets.
- Scandals and outside pressure have historically shaped Swiss banking regulations, though powerful lobbies have often watered them down; Mirabaud led the Swiss Bankers Association from 2003 until 2009.
22 Articles
22 Articles
The former shareholder of one of the oldest Swiss private banks has admitted to having paid more than 80 million Swiss francs in bribes. However, the 77-year-old does not have to go to prison.
Swiss Banking Scandal: The Legacy of Pierre Mirabaud
Pierre Mirabaud, a former Swiss banking lobby head and partner at Mirabaud & Cie, admitted to bribery, resulting in a suspended two-year sentence. He is charged with making $101.7 million in payments to gain $595.2 million in business. He cooperated with authorities, reducing his sentence.
Ex-Swiss Banking Boss Guilty of $101 Million Kickback Scheme
A former president of the Swiss Bankers’ Association was found guilty of bribery of a public official for paying 82 million Swiss francs ($101 million) in kickbacks to a Kuwaiti pension-fund boss to secure $600 million for his bank to invest.
A former partner of the Swiss private bank Mirabaud & Cie, who has already presided over the representative body of the Swiss banking sector, admitted to having paid tens of millions of dollars in tips and was sentenced, on Tuesday (8), to two years in prison with conditional suspension, informed the state broadcaster SRF. Swiss federal promoters claim that former partner Pierre Mirabaud made hundreds of payments, totaling 82.3 million Swiss fra…
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