Former Mirabaud bank partner accepts suspended two-year sentence over 82 million francs in kickbacks

Pierre Mirabaud, a former partner of the Mirabaud bank, has accepted a suspended two-year prison sentence in a case involving 82 million Swiss francs in concealed kickbacks.

The 78-year-old Genevan admitted arranging the payments to the head of Kuwait’s social security system at the time. In return, the official decided to entrust the Mirabaud group with nearly $600 million in Kuwaiti social security assets.

The alleged payments took place between 2000 and 2012. Mirabaud was a partner at the bank from 1979 to 2009 and then worked as a consultant until the end of June 2012.

He is accused of corruption of foreign public officials and aggravated money laundering through eventual intent. The official involved died in 2022. The case, first revealed by Tribune de Genève, is proceeding under an expedited procedure, which the Federal Criminal Court must validate at a hearing on September 8.