Finance

MBaer Bank Faces Preliminary Swiss Probe Over Iran Allegations

The former office location of MBaer Merchant Bank AG in Zurich. — The former office location of MBaer Merchant Bank AG in Zurich.
Photographer: Pascal Mora/Bloomberg

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By Hugo Miller

April 2, 2026 at 4:10 PM UTC

MBaer Merchant Bank AG faces a preliminary probe by Swiss prosecutors after it was forced to shut down due to allegations from US authorities that it facilitated international money laundering.

“The name of this bank is not unknown to us,” Swiss Attorney-General Stefan Blaettler told reporters today in Bern. “Preliminary investigations are underway. We will be communicating further details shortly,” he added.