The Swiss Chief Public Prosecutor’s Office has brought charges against the private bank Lombard Odier & Cie and a former bank official, accusing them of laundering funds for the Office, the organization linked to Gulnara Karimova, the daughter of Uzbekistan’s former president. The details come from a press release published on the prosecutor’s department website. The filing frames the case as a cross-border money-laundering investigation involving a long-standing Swiss financial institution and a former manager who reportedly knew Karimova before joining the bank and who sat on her investment committee for the Office. The authorities contend that Lombard Odier and the former employee played a central role in concealing the Office’s income over the period from 2005 to 2012. (Source: Swiss Chief Public Prosecutor’s Office)
According to the release, the charges extend beyond the bank’s name and history, highlighting the involvement of a figure who controlled nine bank accounts connected to Karimova. It is alleged that these accounts were serviced with fake beneficiaries and that the manager was aware of the deceptive setup. The document suggests a coordinated effort to mask the true ownership and purpose of the funds in question. (Source: Swiss Chief Public Prosecutor’s Office)
Officials described the accused as having taken steps that would hinder detection, tracking, and eventual seizure of assets deemed to be proceeds of crime. The allegations focus on Lombard Odier’s failure to comply with anti-money laundering standards and internal guidelines when opening and managing the accounts linked to the Office, as well as a lack of measures to prevent money laundering. (Source: Swiss Chief Public Prosecutor’s Office)
Gulnara Karimova is the eldest daughter of Islam Karimov, who led Uzbekistan from 1989 to 2016. In these reports, he is noted as being detained within Uzbekistan. The Karimova saga has unfolded across multiple countries and years, drawing attention to the ways in which political families interact with financial channels. (Source: Swiss Chief Public Prosecutor’s Office)
In Uzbekistan, Karimova faced conviction in 2015 for extortion and tax evasion, receiving a five-year sentence from a local court. In 2017, she was granted an additional five years of home detention, which continued through 2019. In 2020, she was convicted again of extortion and embezzlement, receiving a punishment of thirteen years and four months. These rulings have been a persistent feature of Karimova’s years-long legal challenges. (Source: Swiss Chief Public Prosecutor’s Office)
Earlier reports indicated that Switzerland was involved in the recovery of funds linked to Karimova, with around 131 million dollars being returned from Uzbekistan. These cross-border financial movements underscore the complexity of the Karimova case and the ongoing cooperation between jurisdictions in pursuing alleged illicit gains. (Source: Swiss Chief Public Prosecutor’s Office)