Switzerland agrees to return embezzled funds to Uzbekistan

RUSSIA / FSU POLITICS - In Brief 14 Sep 2020 by Alex Teddy
On September 13 it was announced that Gulnara Karimova's confiscated assets will be returned to Uzbekistan. Karimova is the daughter of the late President Karimov. She is suspected of money laundering. An agreement has been signed by the Swiss and the Uzbeks. The funds are CHR 119 million. The monies were seized in 2012.The agreement is not yet legally binding. Tashkent has promised to use the funds to better the lot of the people of Uzbekistan. The Swiss will monitor how the money is spent. An additional CHF 650 million has not been seized. This sum might be seized pursuant to an ongoing criminal investigation. In 2019 the Office of the Attorney-General of Switzerland said that CHR 119 million would be repatriated to Uzbekistan after Karimova was convicted of money laundering in a Swiss Court. Companies that wanted to do business in Uzbekistan paid her bribes that were then paid into Swiss accounts. Karimova took bribes from a Russian telecom company. She was a permanent representative to the UN at Geneva which gave her immunity from arrest until 2013.

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