The trial against the daughter of the former President of Uzbekistan begins today at the Federal Criminal Court in Bellinzona. Gulnara Karimova is accused of being the head of a criminal organization. A private bank is also accused.
04/27/2026, 07:0704/27/2026, 07:07
In addition to the soon-to-be 54-year-old Karimova, a former asset manager from the Geneva private bank Lombard Odier and the bank itself are in the dock. The bank is accused of not having taken sufficient organizational precautions to prevent money laundering.
Gulnara Karimova at the Cannes Film Festival in 2010.Image: AP
Karimova’s former right-hand man is also co-accused. The Russian-Uzbek dual citizen is accused of participating in and supporting a criminal organization, forging documents, money laundering and aiding and abetting the bribery of foreign officials.
According to the indictment by the Federal Prosecutor’s Office (BA), the money laundering extends from 2005 to 2012. Specifically, Karimova is accused of opening more than 30 bank accounts at Swiss financial institutions through straw men.
Money derived from criminal offenses is said to have been transferred in order to conceal their criminal origins. The sum laundered is believed to be several hundred million dollars and euros. The internal structure, the way it worked and the system established resembled the mechanisms of a criminal organization.
Lack of precautions
The BA accuses the Geneva-based private bank of having accepted part of the funds transferred to Switzerland. These are said to have been transferred to an account of a company headed by Karimova’s right-hand man.
The bank did not take all measures to prevent money laundering. The BA accuses it of organizational deficiencies, such as too many and confusing internal guidelines. In addition, the financial institution did not adequately control the activities of its asset manager.
The employee allegedly opened nine accounts for various Uzbek beneficiaries between 2008 and 2012, even though he knew that the beneficiary of these accounts was Karimova. He is said to have met the members of the criminal organization in 2006. The BA also accuses him of knowing that the funds had been transferred to the accounts for the purpose of money laundering.
The public prosecutor’s office announces its applications at the main hearing. The process takes around a month. (SK.2023.42) (sda)