Banque Pictet et Cie SA and one of its former relationship managers convicted by summary penalty order
Bern, 17.06.2025 — The Office of the Attorney General of Switzerland has issued a summary penalty order against a former relationship manager at Banque Pictet et Cie SA (Pictet Bank), sentencing him to a six-month suspended custodial sentence for acts of aggravated money laundering. Pictet Bank was sentenced to a fine of CHF 2 million for failing to take all reasonable and necessary measures to prevent these acts from being committed. The criminal investigation established that between June 2010 and May 2013, funds totaling more than USD 4.1 million originating from corrupt payments were transferred from the account of a Brazilian public official at Pictet Bank with the aim of concealing their criminal origin.