Pictet Bank Fined for Moneylaundering
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former Pictet managerReuters
•Business
Business & Economics
Switzerland sentences former Pictet employee for money laundering

80% Informative
Swiss Attorney General's Office has handed a former wealth manager a six-month suspended prison sentence and fined Pictet Bank for money laundering.
Pictet was sentenced to pay 2 million Swiss francs ( $2.46 million ) for failing to prevent transfers from the account of a Brazilian public official.
The payments were made between June 2010 and May 2013 from an account held in the name of an offshore firm whose beneficial owner was an employee of Brazilian state-run oil company Petrobras .
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