▲ Up
 
15:00 19-10-2017
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Swiss probe private bank Lombard Odier over suspected Uzbek money laundering
12:42, 27 February 2017, 2900

AKIPRESS.COM - KarimovaSwiss federal prosecutors have launched a criminal investigation into whether the private bank Lombard Odier failed to prevent money laundering involving the daughter of the former Uzbek president, reported Reuters.

The Office of the Attorney General said it had opened an investigation into the bank, a former employee and persons unknown, which suggests that the authorities do not yet know precisely who or how many people may be involved.

"The investigations are being made on the basis of information revealed by criminal investigations ... into allegations of money laundering involving suspects that include the daughter of the former president of Uzbekistan," the OAG said in a statement.

It was confirming a report carried in Bilanz magazine.

Geneva-based Lombard Odier, founded in 1796 and owned by its partners, said it had itself reported suspicious transactions to Swiss anti-money-laundering authorities in 2012.

"The Office of the Attorney General of Switzerland has been studying the facts for several years," a Lombard Odier spokesman said. "The investigation is still ongoing and the bank is cooperating fully with the relevant authorities," he said.

The OAG has been investigating Gulnara Karimova, the daughter of Islam Karimov, on suspicion of money laundering since 2014.

She has not been seen in public since the same year, when several Uzbek and foreign media reported that she had been put under house arrest.

She returned to Tashkent in 2013 after serving as Uzbek ambassador to the United Nations in Geneva from December 2008. She has in the past denied allegations of business impropriety against her.

The Swiss authorities have said they were investigating possible money laundering in connection with funds held in Switzerland linked to what they called alleged irregularities in Uzbekistan's telecommunications market.

Prosecutors have frozen more than 800 million Swiss francs ($795 million) in the case.

The OAG said on Thursday it suspected shortcomings in Lombard Odier's internal organisation.

"It is believed that due to these deficiencies, the bank was unable to prevent the commission of the criminal offences currently under investigation in the context of the Uzbek case," its statement said.

Lombard Odier managed 223 billion Swiss francs ($220 billion) in client assets as of the end of June. ($1 = 1.0059 Swiss francs) (Reporting by John Revill and Michael Shields in Zurich and Olzhas Auyezov in Almaty.


Full access to all news articles in English

1 month2000 somsubscribe
year20000 somsubscribe
These subscription fees are for private individuals only. Please contact us via phone +996 (312) 900-776 or email info@akipress.org for corporate subscription inquiries
Twitterfacebookprint
LATEST NEWS
14:51 From the moment of country's obtaining independence, industrial sector of Kyrgyzstan received $117.9 million in loans: Finance Ministry14:43 India seeks to buy more than 2,000 tons of Uzbek uranium14:15 Situation on Kyrgyz-Kazakh border: 7-km line of trucks are still waiting14:13 Tekebayev to be transferred to correctional colony #4713:58 Number of child deaths reduces in Kyrgyzstan by 2 times — UNICEF13:48 Final results of Oct.15 presidential election: Jeenbekov won 54.74%, Babanov - 33.7%:13:09 Jacinda Ardern to become New Zealand Prime Minister13:07 25 social workers awarded in Osh for serving pensioners and people with disabilities12:52 Most part of approved applications for tourist and business e-visas from India, China, Pakistan and Egypt: Government12:52 World Bank urges Uzbekistan to end forced labor: HRW12:45 Kyrgyzstan can be proud of its cinematographers and akyns – Sadyk Sher-Niyaz12:35 Ambassadors of Estonia, Afghanistan, Poland, Canada, Finland, Belgium, France deliver credentials to Nazarbayev12:22 3 films from Kyrgyzstan to be screened at Los Angeles film festival12:20 Mongolian Parliament names 5 ministers12:10 Turkmenistan, Japan discuss reduction of natural disaster risks12:09 Xi congratulates Jeenbekov on election as Kyrgyz president12:06 Mongolian president congratulates Kyrgyz president-elect on win11:59 Turkmen FM, Russian Deputy FM discuss ties11:57 Tashkent to host meeting of Ministers of Justice of SCO countries11:54 Russia to help Kazakhstan cope with fuel crisis with deliveries of additional 100,000 tons of gasoline in Oct.
© AKIpress News Agency - 2001-2017. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06