Full Breakdown
Uzbek Former First Daughter Gulnara Karimova Faces Money-Laundering Trial in Switzerland
4/28/2026, 12:57:57 AM
Trial Launch in Bellinzona
On 27 April 2026, Federal Criminal Court in Bellinzona opened a trial against Gulnara Karimova, Uzbekistan’s former first daughter, on charges of money laundering, breach of trust, passive corruption and heading the criminal group “The Office.” Case slated for about a month.
Background and Prior Conviction
Karimova, eldest daughter of late President Islam Karimov, served as Uzbekistan’s UN representative in Geneva (2008-2013) and held ministerial posts. After her father’s 2016 death, Uzbek prosecutors convicted her of corruption and sentenced her in 2020 to 13 years near Tashkent, where she remains.
Alleged Money-Laundering Scheme and Co-Defendants
Prosecutors say Karimova directed a network that opened over 30 Swiss accounts through straw-men, funneling bribes from telecom firms seeking Uzbek market access. The indictment names Lombard Odier and a former asset manager—her former right-hand man—as co-defendants.
Timeline of Illicit Activities and Legal Milestones
Illicit activity spanned 2005-2013, with a first contact between the asset manager and “The Office” in 2006. From 2008-2012 the manager opened nine accounts that later funneled funds to Karimova. Uzbekistan sentenced her in 2020; Swiss trial began in April 2026, with a verdict expected by late May.
Financial Scale and Operational Tactics
Swiss authorities estimate the scheme moved hundreds of millions of dollars, including CHF 470 million (? $599 million) held in accounts that listed false beneficial owners and comprised about 90 % of the asset manager’s portfolio. The money is described as originating from bribes from telecommunications companies in exchange for market access.
Official Statements & Institutional Criticism
Office of the Attorney General describes the operation as a “complex structure” that used fictitious contracts to disguise illicit transfers. Lombard Odier denies wrongdoing, attributing the charges to alleged shortcomings in its anti-money-laundering procedures. Indictment also faults bank for confusing internal guidelines and inadequate monitoring of asset manager.
Conflicting Reports & Gaps
The Washington Post says the proceeding is a trial in absentia, while Reuters reports the defendants appeared in court. The OAG has not disclosed the penalties it seeks against the co-defendants, leaving that element of the case unresolved.
Verbatim Quotes
- “sda-ats The trial of Gulnara Karimova, daughter of the former president of Uzbekistan, begins on Monday at the Federal Criminal Court in Bellinzona.” — *Swissinfo*
- “According to the Office of the Attorney General of Switzerland (OAG), the funds of illicit origin were then transferred in order to obscure their criminal source.” — Office of the Attorney General of Switzerland
- “Lombard Odier said in a statement that the charges against it pertain to alleged organisational shortcomings in relation to the effective prevention of money laundering.” — Lombard Odier statement
Outlook
The court is slated to deliver its judgment by the end of May 2026. The decision will determine any penalties sought against the co-defendants.
