(Financial) services Private bank Lombard Odier charged with serious money laundering

The Office of the Attorney General of Switzerland has charged the private bank Lombard Odier and a former employee with serious money laundering. They are suspected of helping to conceal the profits of the daughter of the former President of Uzbekistan.

The bank and its former employee are suspected of having played a decisive role in concealing the proceeds from the activities of the "Office" founded by Gulnara Karimova, which is classified as a criminal organization by the Office of the Attorney General of Switzerland (OAG). This was announced by the judicial authority on Friday.

Between 2005 and 2012, the two allegedly laundered assets in Switzerland that originated from crimes committed by this criminal organization, whose top boss is said to be Gulnara Karimova, according to the indictment by the Office of the Attorney General of Switzerland.

The investigations confirmed the suspicion that some of the money laundered in Switzerland was transferred via banking relationships at Banque Lombard Odier & Cie SA in Geneva, according to the indictment. The presumption of innocence applies until a final verdict is reached.

SDA