A Swiss court has fined private bank Lombard Odier 3 mln Swiss francs ($3.68 mln) for failing to prevent money laundering while formally dropping proceedings against the daughter of Uzbekistan’s former president.
The judgement ordered the confiscation of more than 400 mln francs in assets. Magistrates halted the high-profile prosecution of Gulnara Karimova because she is currently imprisoned in Uzbekistan with no prospect of extradition before the statute of limitations expires.
Prosecutors had accused the 54-year-old of running a criminal syndicate called “The Office” that allegedly funnelled hundreds of millions of dollars in illicit bribe money into Swiss accounts...