The Swiss Federal Criminal Court has fined Geneva-based bank Lombard Odier 3 million francs in a money laundering case linked to Gulnara Karimova, the daughter of Uzbekistan's former president.

The court found the bank's former account manager guilty of aggravated money laundering and sentenced him to a suspended 24-month prison term. The court determined that he had knowledge of the possible corrupt origin of the funds but conducted only superficial checks.

Transactions not covered by the statute of limitations exceeded $120 million in deposits and $20 million in withdrawals. The bank itself was found guilty of failing to take necessary measures to prevent violations by its employee.

Additionally, the court ordered the confiscation of over 400 million francs obtained through money laundering or controlled by the organization "Office."

Proceedings against Gulnara Karimova were discontinued due to the impossibility of concluding the case before the statute of limitations expired. The court noted that she is imprisoned in Uzbekistan and cannot be released or extradited to Switzerland in time.

Lombard Odier disagrees with the ruling and plans to appeal. The bank stated that it had an adequate internal control system and that the investigation began after the bank itself reported suspicious transactions to Swiss authorities in 2012. The decision is not yet final.

Source: podrobno.uz