Swiss wealth manager Lombard Odier indicted on money laundering charges

Lombard Odier, one of Switzerland’s oldest private banks, was indicted by Swiss prosecutors for aggravated money laundering, with allegations of helping conceal criminal proceeds of Gulnara Karimova, daughter of Uzbekistan’s former president. The bank, founded in 1796, denies the charges and plans to vigorously defend itself, attributing the case to its proactive reporting of suspicions to Swiss authorities. Karimova, currently serving a jail sentence in Uzbekistan, was indicted in 2023 for laundering money in Switzerland between 2005 and 2012.

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