News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Wealth Management

Lombard Odier charged with aggravated money laundering

Ex-employee who worked in the Swiss bank’s private client division from 2008-2012 has also been charged

The Swiss private bank allegedly failed to comply with money laundering standards Luke MacGregor/Bloomberg via Getty Images
The Swiss private bank allegedly failed to comply with money laundering standards Luke MacGregor/Bloomberg via Getty Images

Lombard Odier and a former employee of the Swiss private bank have been indicted for aggravated money laundering.

The Office of the Attorney General of Switzerland (OAG) has accused the Geneva-based bank and its former employee, who worked in its private client division between 2008 and 2012, of playing a “decisive role” in helping to conceal the criminal activities of Gulnara Karimova, the daughter of deceased Uzbekistan president Islam Karimov, in charges filed on 29 November.

WSJ Logo