Swiss bank Lombard Odier has been accused of money laundering in connection with Gulnara Karimova's case.

The Swiss Federal Prosecutor's Office has charged the private bank Lombard Odier and one of its former employees with serious crimes. In the indictment filed on November 29, the prosecution claims that Lombard Odier, one of the most prestigious financial institutions in the country, played a "decisive role" in concealing the alleged criminal activities of Gulnara Karimova for many years, the daughter of the late President of Uzbekistan, Islam Karimov. This was reported by the Financial Times.

According to the prosecution, Gulnara Karimova controlled lucrative government contracts in Uzbekistan, embezzling and misappropriating billions of dollars. She also laundered income through an organization called "Office," located in Switzerland.

The Swiss Prosecutor's Office charged Gulnara Karimova in 2023. They allege that Karimova misappropriated billions in income primarily through bribes from international companies seeking to secure profitable contracts in Uzbekistan.

Lombard Odier Bank is accused of failing to comply with anti-money laundering standards and internal compliance procedures.

In a statement, Lombard Odier Bank noted that the investigation began after a former client (Karimova) independently reported this to Swiss anti-money laundering authorities over ten years ago.

"We have taken into account the allegations [from the prosecutor's office] against the bank. The charges against the bank are baseless. The bank intends to defend itself. The process has been ongoing since 2012, and the bank has always fully cooperated with the relevant authorities," the statement reads.

Despite initial cooperation, the bank, which has a history dating back to the 18th century, faced criminal prosecution in this case in 2016. When police searched safes opened in Karimova's name that year, they discovered valuable jewelry and numerous documents obtained at the expense of the Uzbek government, which were used by the prosecution in their investigation.

It is noted that the prosecution has also charged a former employee of Lombard Odier Bank. Under Swiss law, this person's name will not be disclosed until the trial. It is said that this individual worked for Karimova before being hired by Lombard Odier in 2008.

Prosecutors claim that he is guilty of violating the bank's internal requirements, and that this process was easy for him. This person left the bank in 2012, the same year the bank's management reported their concerns about Karimova to the authorities.