Swiss bank Lombard Odier is accused of money laundering in connection with Gulnara Karimova's case.

An investigation has revealed that the bank and its former employee, who worked with clients, played a crucial role in concealing the sources of income for the "Office." The prosecution accuses the bank of violating anti-money laundering standards and failing to adhere to internal procedures, including inadequate verification of account holders, neglecting obligations for enhanced scrutiny of high-risk transactions, and disregarding rules for dealing with politically exposed persons (PEPs).

According to the investigation, the bank employee actively engaged with members of the "Office" and Karimova before and after starting his tenure at Lombard Odier. While still employed at the bank, he facilitated the opening of nine accounts for members of the "Office," fully aware that the funds deposited were derived from corrupt activities within Uzbekistan's telecommunications sector. Furthermore, he allegedly concealed the origin of these funds, utilized front beneficiaries, and failed to inform the bank's management about the true owner of the assets, who is claimed to be Karimova.

The prosecution also states that the accused deliberately described one of the companies linked to the "Office" as an operating entity, despite it not engaging in any commercial activities and being used solely to mask illicit operations. He concealed information regarding the actual origin of financial transactions and obstructed oversight from the compliance monitoring department, thereby violating Swiss law.

Additionally, in 2011 and 2012, the accused allowed one of the members of the "Office" to access a bank vault associated with these accounts to remove or relocate documents used to legally cover up dubious transactions.

The charges against the bank and its former employee pertain to money laundering under aggravating circumstances. According to the Financial Times, Lombard Odier facilitated the concealment of billions of dollars obtained by Karimova through corrupt schemes associated with government contracts in Uzbekistan.

Karimova is also mentioned in the context of one of the largest bankruptcies in Swiss history—the collapse of Zeromax, a company registered in the canton of Zug. In 2010, this company, which was involved in investments in Uzbekistan, went bankrupt with debts totaling $4.6 billion.