Lombard Odier Indicted for Money Laundering

The Swiss Attorney General's Office has indicted Lombard Odier, a historic private bank, along with a former employee for aggravated money laundering, in a significant legal action against the institution. The charges relate to the bank's role in concealing proceeds from the criminal organization 'The Office,' founded by Gulnara Karimova, the daughter of late Uzbek President Islam Karimov. Between 2005 and 2012, the organization allegedly laundered funds in Switzerland using accounts at Lombard Odier. The bank has rejected the allegations as unfounded and expressed dismay at the indictment. Karimova, currently imprisoned in Uzbekistan, has also been indicted separately on related charges. The presumption of innocence applies until a final verdict is reached in this ongoing investigation.