Swiss banker given two-year suspension
Pierre Mirabo, the former head of the Swiss Banking Association, was sentenced to two years in prison suspended for charges of corruption and money laundering in a bribery case linked to Fahad Rashed Al-Rashedan, the Kuwait-based figure. Mirabo was involved in paying illicit commissions to Al-Rashedan in exchange for investments exceeding $600 million in Swiss funds, from which he received more than $101 million between 2000 and 2012. An investigation was opened in 2021, and the ruling includes a 24-month suspended sentence, with the possibility of appeal. Rashedan passed away in London in 2022 and was convicted in absentia in Kuwait on charges of embezzlement of public funds and money laundering.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)