A pedestrian walks via the doorway to Lombard Odier in Geneva, Switzerland.
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Lombard Odier — considered one of Switzerland’s oldest non-public banks — used to be indicted via Swiss prosecutors for “aggravated money laundering.”
In a shed on Friday, the Place of business of the Lawyer Basic of Switzerland (OAG) mentioned it filed an indictment towards Lombard Odier and a former worker of the reserve at Switzerland’s Federal Felony Courtroom on Tuesday.
The accused allegedly helped cover the proceeds of a prison group arrange via Gulnara Karimova — the daughter of Islam Karimov, the authoritarian president of Uzbekistan who died of a stroke in 2016 — in line with the OAG. Karimova used to be indicted via the lawyer basic in 2023 below accusations of laundering cash that used to be a results of prison actions in Switzerland between 2005 and 2012.
“Investigations have led the OAG to believe that part of the money laundered in Switzerland may have been transferred in bank accounts at … Lombard Odier in Geneva. The bank and one of its former relationship managers are alleged to have played a decisive role in concealing the proceeds of the criminal activities of ‘The Office,'” the OAG mentioned in its observation.
They’ve been below investigation since 2016, the prosecutors added.
Lombard Odier, whose origins day again so far as 1796, denies the allegations.
“We have taken note of the decision of the Office of the Attorney General of Switzerland to bring charges against the Bank for insufficient controls,” the reserve mentioned in a observation on Friday.
“This step follows the opening of a formal investigation against the bank initiated and made public in 2016. For the bank, the allegations are unfounded and without merit. The bank plans to defend itself vigorously.”
The reserve added that the case used to be initiated via a “proactive reporting of suspicions to the Swiss authorities” via Lombard Odier itself.
CNBC has reached out to Gregoire Mangeat, who has represented Karimova all over her criminal battles with Swiss government. Karimova is these days serving a prison sentence in Uzbekistan.
