Court documents from a Swiss trial have revealed that the former deputy director of the PKB bank earned $2.65 million (CHF2.6 million) for services rendered to the Brazilian group Odebrecht that was implicated in the ‘Car Wash’ corruption scandal.
The construction firm Odebrecht was found to have funnelled bribes to employees of the Brazilian state oil company Petrobras via Swiss banks. The commission paid to the PKB banker came to light after he filed an appeal against the seizure of watches and jewellery from one of his homes in Barcelona, Spain. The appeals court of the Federal Criminal Court in Bellinzona dismissed his plea.
In its decision, published recently, the court stated that it does not rule out the possibility that the confiscated valuables were acquired with ill-gotten funds. The banker is being investigated by the Office of the Attorney General of Switzerland for money-laundering. He is accused of managing bank accounts for the Odebrecht group and transferring funds. His share for services rendered between 2009 and 2014 was estimated at $2.65 million.
Last year, Switzerland’s financial regulator found the Lugano-headquartered PKB private bank guilty of breaching money-laundering rules in relation to the Petrobras and Odebrecht Brazilian corruption scandal. The bank was ordered to hand over CHF1.3 million in illicitly gained assets.