• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10100 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%

Viewing results 1 - 6 of 3

Karimova and Nazarbayeva: Power, Prison, and Privilege – The Diverging Fates of Central Asia’s First Daughters

The lives of the eldest daughters of Kazakhstan’s first president, Nursultan Nazarbayev, and Uzbekistan’s first president, Islam Karimov, share striking similarities. Both once wielded immense influence in their respective countries, yet their destinies took drastically different turns. Amid a flurry of media reports after Uzbekistan and Switzerland signed an agreement to return funds appropriated by Karimova, some recent articles have compared the trajectories of the two women. While Nazarbayev allowed his daughter, Dariga, to maintain her wealth and political standing, Karimov took decisive action against his daughter, Gulnara, stripping her of power and ensuring she faced legal consequences. The Rise and Fall of Gulnara Karimova Once a high-profile public figure, Gulnara Karimova built a vast business empire, pursued a career in fashion career, and even dabbled in pop music under the name ‘Googoosha.’ A former UN envoy and self-styled 'Princess of Uzbekistan,' - "From her desire for self-expression came her poems. From her poems came the music. Meet Googoosha.....poet, mezzo soprano, designer and exotic Uzbekistan beauty," read Karimova's X account and since removed official website. "A robber baron… a greedy, power-hungry individual who uses her father to crush business people or anyone else who stands in her way… She remains the single most hated person in the country," asserted a leaked U.S. diplomatic cable. With her political ambitions becoming increasingly apparent, alarming Uzbekistan’s leadership, however, the authorities closely monitored her activities and reported them to her father. By 2014, Karimova had fallen from grace. Placed under house arrest, images of her detention were leaked to the media. After Islam Karimov’s death in 2016, legal proceedings against her intensified. In 2017, she was sentenced to nine years in prison on corruption charges. The Uzbek Supreme Court later extended her sentence to 13 years and four months, with the term officially calculated from August 21, 2015. Karimova's financial empire also crumbled. In 2020, the Swiss authorities froze her assets, valued at 800 million Swiss francs (approximately $880 million at the time). Uzbekistan recovered $131 million from these funds, and in February 2024, Uzbekistan and Switzerland signed an agreement to repatriate an additional $182 million. The funds, originally seized by the Swiss authorities in 2012 as part of a corruption case against Karimova, will be transferred to Uzbekistan through the UN Uzbekistan Vision 2030 Fund. Dariga Nazarbayeva: From Power to Uncertainty Unlike Karimova, Dariga Nazarbayeva remained a central political figure in Kazakhstan for years. Nazarbayeva held several high-ranking positions, including deputy prime minister and chair of the Senate. In 2019, when Nazarbayev stepped down, she was just one step away from the presidency. Following the political turmoil in Kazakhstan in January 2022, Nazarbayeva disappeared from public life. While her current whereabouts remain unclear, she is frequently linked to luxurious properties in London and the UAE. A British court recently reviewed a case involving her London properties, which were initially seized as “unjustified wealth.” However, she and her family successfully proved that the assets were acquired legally. The protests that erupted on January 2,...

Swiss Bank Implicated in Corruption Scheme Linked to Islam Karimov’s Daughter

Swiss bank Banque Lombard Odier & Cie SA faces allegations of violating anti-money laundering regulations concerning funds linked to Gulnara Karimova, the controversial daughter of Uzbekistan’s first president, Islam Karimov. The Swiss Attorney General's Office revealed that the bank managed nine suspicious accounts tied to Karimova’s organization, the "Office," despite clear violations of external regulations and internal policies. A former bank manager was also charged with facilitating the scheme between 2005 and 2012. According to investigators, the "Office" functioned solely as a front to launder funds derived from corruption in Uzbekistan’s telecommunications sector. It reportedly had no legitimate business operations and employed no staff. The investigation found that the banker deliberately provided false information to obscure Karimova’s role as the ultimate beneficiary of the accounts. The individual is also accused of destroying or concealing documents that could have exposed the illegal origins of the funds. From 2011 to 2012, the banker allegedly allowed unauthorized access to a safe linked to the “Office,” enabling the removal of critical evidence supporting fraudulent transactions. Gulnara Karimova was once a prominent figure in her father’s administration, known for her roles as a singer, fashion designer, socialite, businesswoman, and diplomat. At one point, she was even considered a potential successor to Islam Karimov. However, by late 2013, her relationship with her father deteriorated, resulting in her political downfall. By 2014, her residence was raided, and she was implicated in a corruption case involving Swedish telecom giant TeliaSonera. Her legal troubles escalated, with convictions in 2015 for embezzlement, public fund misappropriation, and tax evasion, leading to a five-year sentence. This was extended in 2017, placing her under house arrest alongside her daughter. In 2019, Karimova was moved to a penal colony for violating house arrest conditions. In 2020, she was sentenced to an additional 13 years for crimes including creating a criminal association, extortion, and embezzlement. In September 2023, the Swiss General Prosecutor's Office filed an indictment against Karimova in the Federal Court. Prosecutors allege that foreign companies seeking entry into Uzbekistan’s telecommunications market were coerced into paying bribes through entities within the “Office” structure.' Karimova’s legal troubles extend beyond Uzbekistan. British courts have confiscated properties linked to her, valued at over £20 million. The ongoing investigation into her global operations has drawn attention to her role in one of the largest corruption cases in Uzbekistan’s history. This latest scandal has deepened scrutiny of Karimova’s dealings and raised questions about the accountability of financial institutions enabling such schemes.

Swiss Accuse Gulnara Karimova of Running Criminal Organization

Switzerland's federal prosecutor has filed an indictment against the imprisoned daughter of Uzbekistan's former president, accusing her of taking bribes and running an elaborate criminal organization known as "The Office." Gulnara Karimova, the eldest daughter of Islam Karimov, who ruled Uzbekistan from 1991 until his death in 2016, is accused of leading the operation, which allegedly channeled hundreds of millions of dollars’ worth of bribes from telecoms companies. Switzerland’s Office of the Attorney General (OAG) said on September 28 that money was funneled through bank accounts in several countries before being transferred to banks in Switzerland. According to the statement, Karimova's network began its operations in Switzerland in 2005 “in order to conceal the capital originating from its criminal dealings in Swiss bank accounts and safes and by purchasing real estate.” "‘The Office conducted its criminal activities as a professional business, complying with mandatory regulations and observing a strict allocation of tasks, while also resorting to violence and intimidation," the prosecutors' statement said. In 2012, Switzerland said it froze around 800 million Swiss francs ($871.3 million) in connection with criminal proceedings against Karimova, a pop diva and businesswoman who had a public falling out with her late father and is currently in an Uzbek prison on embezzlement and criminal conspiracy charges. In December 2017, a Tashkent court sentenced Karimova to a 10-year prison term, but the sentence was later commuted to house arrest for five years. She was detained in March 2019 for allegedly violating the terms of her house arrest. In February 2020, Karimova sent a letter to Mirziyoyev offering to return $686 million to the country's treasury in exchange for the dismissal of the court case against her at home. But a month later, she received an additional 13-year sentence after being found guilty of extortion, money laundering, and other crimes. In August, Britain's Serious Fraud Office confiscated three luxury properties worth more than $25.5 million in the United Kingdom that belonged to Gulnara Karimova. The total amount of assets associated with Karimova in Switzerland, France, and the United States is estimated at almost $1.4 billion. Uzbekistan is trying to recover at least $1 billion of that. The 51-year-old Karimova, once seen as a possible successor to her father, has also been tied to money-laundering investigations in Sweden and Switzerland.