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
War Brings Out the Best in the DollarExternal link

War Brings Out the Best in the Dollar