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Swiss Private Bank at the Center of Several Overseas Graft Investigations

By Valentina Pasquali

A series of public graft scandals from Uzbekistan to Argentina are alike in having landed dozens of domestic officials, business executives and other suspects in jail in countries already perceived as vulnerable to grand corruption. They also share another feature common to many graft schemes: a Swiss private lender is at the center of each. Lombard Odier, one of the largest private banks in Europe, is under criminal investigation in Switzerland for anti-money laundering failures involving accounts allegedly used by the daughter of Uzbekistan's former president and her accomplices to launder roughly $700 million from a bogus telecom contract. The...

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