Lombard Odier Faces Money Laundering Indictment

Swiss prosecutors have indicted Lombard Odier, one of Switzerland's oldest private banks, and a former employee on charges of aggravated money laundering. The charges relate to concealing proceeds from a criminal organization led by Gulnara Karimova, daughter of Uzbekistan's late president. The bank, under investigation since 2016, denies the allegations and plans to defend itself, claiming the case arose from its own proactive reporting to authorities.