Full Breakdown
Swiss Court Dismisses Money-Laundering Trial of Gulnara Karimova Amid Procedural Barriers
4/28/2026, 10:33:49 PM
Core Event and Alleged Financial Scope
Switzerland’s Federal Criminal Court in Bellinzona halted the money-laundering trial of Gulnara Karimova, daughter of former Uzbek President Islam Karimov, on 28 April 2026 because she cannot leave her Uzbek penal colony and the statute of limitations would expire. Prosecutors allege that “The Office” moved hundreds of millions of dollars—Swiss authorities estimate $686 million in Switzerland and $1.4 billion abroad—through dozens of accounts and safe-deposit boxes between 2005 and 2013, involving dozens of participants.
Background and Context
Karimova, a former UN diplomat, is accused of heading “The Office,” a criminal network that allegedly facilitated bribes, extortion and embezzlement. Swiss prosecutors filed the indictment in 2023; Karimova has been serving a 13-year Uzbek sentence for related crimes since 2020, after earlier convictions for organizing a criminal group.
Official Statements and Responses
Swiss prosecutors say Lombard Odier’s internal controls were insufficient but do not allege intentional money-laundering. Lombard Odier claims it reported suspicions in 2012 and disputes the allegations. Karimova’s lawyer argues her inability to travel creates a “lasting impediment” and calls the Uzbek conviction “unfairly obtained.”
Criticism and Opposition
Karimova’s defense criticizes the Uzbek justice system for denying her travel and for a conviction they deem procedurally flawed. Observers warn that dismissing the Swiss case on procedural grounds may limit accountability for large-scale financial crimes.
Conflicting Reports and Gaps
Reuters and AP report the case was discontinued on 28 April, while other outlets described the trial as running through 22 May. Asset estimates vary between “hundreds of millions” and the precise $686 million in Switzerland and $1.4 billion abroad. No public list of the alleged co-conspirators is available.
Why It Matters
The dismissal highlights challenges in prosecuting money-laundering when defendants are detained abroad and underscores Swiss oversight. Restitution of seized assets could return the $686 million in Switzerland and $1.4 billion abroad to Uzbekistan, shaping anti-corruption cooperation.
Verbatim Quotes
- “We will seek the full and complete acquittal of Gulnara Karimova,” — Grégoire Mangeat, Defense Lawyer
- “Today's dismissal ordered by the Swiss Federal Criminal Court in favour of our client, Gulnara ?Karimova, amounts to an acquittal under Swiss law,” — Grégoire Mangeat, Lawyer
- “’” Lombard Odier, in an email, said the prosecutor doesn’t allege that the bank knowingly or intentionally engaged in money laundering, “but rather raises claims relating to alleged organizational shortcomings in prevention measures, which the bank firmly contests and will defend in court.” — Lombard Odier, Email Statement
- “«Switzerland wants a clean legal reappraisal so that it can correctly return the funds to Uzbekistan,» she explained.” — Sibilla Bondolfi, Court Correspondent
What’s Next
The Lombard Odier trial continues, with hearings slated through May and a verdict expected later. Swiss authorities may still seize frozen assets linked to Karimova, while restitution talks with Uzbekistan proceed.
