Full Breakdown
Swiss Money Laundering Trial of Gulnara Karimova and Lombard Odier
4/27/2026, 10:20:25 PM
Trial Opening
The Federal Criminal Court in Bellinzona opened a hearing on 27 April 2026. Defendants are Gulnara Karimova, daughter of former Uzbek president Islam Karimov, and bank Lombard Odier, and a bank employee. Prosecutors allege money-laundering, corruption and participation in a criminal organisation.
Investigation Background
Swiss authorities launched the probe in 2012 after the Attorney General's Office received a tip about a network dubbed “The Office”. The OAG says the network extorted bribes from telecom firms seeking entry to Uzbek market. Alleged fund transfers to Swiss accounts occurred between 2005 and 2013; a former Lombard Odier employee managed accounts from 2008 to 2012.
Allegations
Karimova is accused of taking bribes and directing “The Office” to move “hundreds of millions of dollars” into Swiss accounts. Lombard Odier faces no money-laundering charge; court will assess whether its internal controls were adequate to prevent the former employee’s actions. The employee allegedly opened and oversaw the accounts.
Timeline
2005-2013 – alleged transfer of “hundreds of millions of dollars” to Swiss accounts. 2008-2012 – former Lombard Odier employee manages those accounts. 2012 – bank reports case to MROS. 2014 – Karimova detained in Uzbekistan. May 2025 – Swiss court merges investigative strands. Early 2026 – judges travel to Tashkent for witness questioning. 27 April 2026 – hearing begins; hearings expected through May with a verdict later.
Official Statements
Lombard Odier said the case concerns shortcomings in preventing money-laundering and noted it reported the suspicion to Swiss authorities in 2012. Swiss OAG described “The Office” as an organised structure used to extort bribes from telecom companies. The court declined to set a trial timetable, saying hearings will run until the end of May and a verdict will follow later.
Criticism & Opposition
The United Nations working group described Karimova’s detention in Uzbekistan as arbitrary, raising evidentiary concerns for the Swiss case. Legal observers note that witness questioning has been conducted indirectly through Uzbekistan’s Prosecutor General’s Office, with restricted defence access.
Conflicting Reports & Gaps
Karimova’s attendance is unlikely because she remains imprisoned, and a co-defendant’s whereabouts are unknown. The court must decide whether evidence gathered abroad is admissible and how to manage procedural complexities from the case’s long duration.
Verbatim Quotes
“The Office” — Office of the Attorney General
“Lombard Odier said in a statement that the case began after it had itself reported suspicions on the matter to Swiss authorities in 2012.” — Lombard Odier
“Karimova’s personal attendance is considered unlikely due to her imprisonment, while the whereabouts of another defendant remain unknown.” — Court
Outlook
The court expects hearings to continue through May 2026, with a verdict anticipated in the following months. The ruling will clarify corporate liability for Swiss banks in money-laundering cases and may shape cross-border anti-corruption cooperation.
