# Pierre Mirabaud bribery and money laundering conviction > Live situation record from CLSTR: https://clstr.news/situations/pierre-mirabaud-bribery-and-money-laundering-conviction > Updated: 2026-09-08T22:09:21.000Z. Sources: 9. Developments: 2. Pierre Mirabaud, the former president of the Swiss Bankers Association and a retired partner at Mirabaud & Cie, has been convicted by Switzerland’s Federal Criminal Court in Bellinzona for foreign bribery and aggravated money laundering. Between 2000 and 2012, Mirabaud orchestrated approximately 82.3 million Swiss francs (roughly $101.7 million) in payments to Fahad Al-Rajaan, the former director-general of Kuwait’s Public Institution for Social Security (PIFSS). These bribes were intended to secure the management of approximately $595 million to $600 million in Kuwaiti pension fund assets for his bank and its investment funds. Mirabaud admitted to personally earning $1.8 million from the arrangement, which he described as a “very grave error of judgment.” In addition to the bribery, Mirabaud was convicted of executing over 122 transfers totaling nearly 77 million Swiss francs to conceal the criminal origin of the funds. The court issued a two-year suspended prison sentence and a two-year probationary period, noting his cooperation and lack of a prior criminal record as mitigating factors. He was also ordered to pay 82,000 Swiss francs. ## Timeline ### 2026-09-08: Pierre Mirabaud convicted in $101.7 million bribery and money laundering scheme Former Swiss banking lobby head Pierre Mirabaud has been convicted of bribery and money laundering involving $101.7 million in payments to a Kuwaiti official to secure pension fund assets. 2 sources. https://clstr.news/cluster/pierre-mirabaud-convicted-in-1017-million-bribery-and-money-laundering-scheme ### 2026-09-06: Pierre Mirabaud convicted of $101 million bribery scheme Former Swiss Bankers Association president Pierre Mirabaud received a two-year suspended sentence for paying $101 million in bribes to a Kuwaiti official to secure pension fund assets. 7 sources. https://clstr.news/cluster/pierre-mirabaud-admits-to-corruption-in-swiss-court --- Cite as: Pierre Mirabaud bribery and money laundering conviction. CLSTR, https://clstr.news/situations/pierre-mirabaud-bribery-and-money-laundering-conviction