A ​Swiss court handed private bank Lombard Odier a 3 million Swiss franc ($3.68 million) ‌fine on Monday for failing to prevent money laundering but dropped proceedings against Gulnara Karimova, the daughter of Uzbekistan's former president.

Swiss prosecutors had accused Karimova of taking bribes and running a criminal organisation known ​as "The Office" that allegedly channelled hundreds of millions of dollars to bank accounts in ​Switzerland between 2005 and 2013.

Geneva-based Lombard Odier and a former employee were ⁠accused of having enabled the concealment of proceeds of Karimova's alleged criminal activity. The trial began ​in April.

In a statement, the court said it had fined Lombard Odier for "failing to take ​all reasonable and necessary organisational measures" to prevent money laundering and also ordered asset confiscations worth over 400 million francs.

It handed an ex-account manager of Lombard Odier, identified only as C., a 24-month suspended prison sentence.

Lombard Odier said on Monday the underlying case ​began after it proactively reported suspicions to the Swiss authorities in 2012. It maintained that it had ‌robust internal ⁠controls and anti-money laundering procedures in place at the time and would appeal the judgment.

Karimova, 54, daughter of late Uzbek President Islam Karimov, has denied any wrongdoing.

She was jailed in Uzbekistan in 2019 after she violated the terms of her house arrest following her ​conviction there on embezzlement ​and extortion charges.

⁠The court said the case against her had been discontinued because there was no prospect she would be released or extradited to Switzerland ​before the statute of limitations expired.

Proceedings against another defendant who lives ​in Russia, ⁠identified as B., were also halted because he was unable to travel to Switzerland through no fault of his own.

The court said the sentences against C. and Lombard Odier were reduced ⁠due to ​the time elapsed since the crimes were committed. Charges ​related to events prior to July 2011 were dismissed due to the statute of limitations.