Key Points Lombard Odier — one of Switzerland’s oldest private banks — has been indicted by Swiss prosecutors on charges of aggravated money laundering. The Office of the Attorney General of Switzerland said Friday that it filed an indictment against Lombard Odier and a former employee of the bank at Switzerland’s Federal Criminal Court on Tuesday. The accused allegedly helped conceal the proceeds of a criminal organization set up by Gulnara Karimova — the daughter of Islam Karimov, the authoritarian president of Uzbekistan who died in 2016. allegations. “We have taken note of the decision of the Office of the Attorney General of Switzerland to bring charges against the Bank for insufficient controls,” the bank said in a statement on Friday. “This step follows the opening of a formal investigation against the bank initiated and made public in 2016. For the bank, the allegations are unfounded and without merit. The bank plans to defend itself vigorously.” The bank said the case was initiated by Lombard Odier’s “proactive reporting of suspicions to the Swiss authorities.” CNBC has reached out to Gregoire Mangeat, who has represented Karimova throughout her legal battles with Swiss authorities. Karimova is currently serving a jail sentence in Uzbekistan.