The Swiss Office of the Attorney General has filed an indictment with the Federal Criminal Court against the private bank Lombard Odier and a former employee, accusing them of involvement in «serious money laundering».
Lombard Odier's relations with the Uzbek president's daughter Gulnara Karimova are the cause of the charges. She and the «Office», classified as a criminal hierarchical organization, have been under indictment by the Office of the Attorney General of Switzerland (OAG) for more than a year.
Lombard Odier and the employee are now accused of having played a decisive role in concealing the proceeds from the activities of the «Office» organization founded by Karimova. Criminal proceedings have been ongoing since December 2016 and the investigations have confirmed the suspicions, according to the statement.
The Organization's Top Boss
The indictment for «serious money laundering» was filed on Tuesday following the conclusion of the criminal investigation, the Office of the Attorney General of Switzerland announced on Friday.
The charges against the bank follow the case brought against the daughter of former Uzbek President Islom Karimov in in September 2023. Between 2005 and 2012, Lombard Odier and the employee are alleged to have laundered assets in Switzerland that originated from crimes committed by this criminal organization. According to the indictment, Karimova is said to be the organization's top boss.
Bank Rejects Accusations
Lombard Odier has acknowledged the charges, it said in a statement. «The allegations are unfounded and are firmly rejected by the bank,» it says. It also points out that the investigation began after Lombard Odier proactively reported suspicions to the Swiss authorities (MROS) in 2012.
«The proceedings have been ongoing since then and the bank has always cooperated fully with the competent authorities.»
Criminal Responsibility
The bank is being charged with criminal liability in this case. It is accused of serious internal organizational deficiencies. The list includes failures in the identification of the beneficial owner, in the obligation to carry out additional clarification of business relationships with increased risk, or in the acceptance of business relationships with politically exposed persons (PEPs).
Karimova was a dazzling figure and presented herself as a fashion designer, pop singer, media star and diplomat. From 2014, there have been many unconfirmed rumors about her whereabouts.
More Than 1.3 Billion Francs
These were only dispelled in 20127 when it was confirmed that she was in custody in Uzbekistan on corruption charges. She is said to have amassed assets worth the equivalent of more than 1.3 billion francs.
