Contents tagged with Money Laundering

  • US Treasury Department accuses Venezuelan President Maduro of drug trafficking and money laundering in Russia

    The United States has accused Venezuelan President Nicolas Maduro and Diosdado Cabello, Maduro's second-in-command in the ruling United Socialist Party of Venezuela, of getting revenue from the drug trade, reported the Voice of America.

    The US Treasury Department published a statement indicating that Cabello had confiscated small quantities of drugs from drug traffickers, collected them in a large batch, and exported them through Venezuela's state airport.

    "Cabello, along with President …

  • Moscow urges London to return funds transferred to the UK by Russian citizens

    In an interview with Russian NTV TV channel, Russian Prosecutor General Yury Chaika has urged London to return the 500 billion rubles which were withdrawn to the UK by Russian citizens who are convicted according to Russia’s economic laws.

    A law has been in effect in Britain since February according to which the authorities may freeze the suspicious assets of foreigners until the origins of the funds or assets are explained.

    “It was stolen in Russia, and now Britain is taking everything into …

  • Swiss subsidiary of Russian GazpromBank banned from accepting new clients after money laundering audit

    The Swiss Financial Market Supervisory Authority (FINMA) has uncovered serious inadequacies in the anti money laundering procedures of GazpromBank’s subsidiary company in Switzerland (GazpromBank (Switzerland) Ltd.) and has banned it from taking on new private clients.

    The decision was made earlier, following a two-day investigation prompted by the Panama Papers – material on the offshore accounts and companies of politicians and high-ranking officials from more than 50 countries.“The bank was …

  • Greece agrees to extradite to US Russian citizen suspected of money laundering

    The court in Greece has approved the request for extradition to the US of Russian citizen Alexander Vinnik. Vinnik was detained on suspicion of laundering $4 billion through bitcoins, as reported by Interfax with reference to Vinnik’s lawyer, Ilias Spirliadis. "The court decided to grant the US request for Vinnick's extradition but we will appeal to the Supreme Court of Athens, so the decision made today is not final," Spirliadis said.

    Greek authorities detained Vinnik jointly with US …

  • Moldova discloses details of $22 billion money laundering case

    Criminal cases were brought against a number of judges, bailiffs and employees of the National Bank of Moldova. Through a statement posted on their official website, the Prosecutor General's Office of Moldova described the details of an ongoing investigation about the laundering and removal of $22 billion from Russia.

    According to the statement, charges were brought against 16 judges, four bailiffs, four employees of the National Bank of Moldova including the deputy head, as well as nine …

  • Deutsche Bank Tallies $10 Billion in Suspected Russian Money Laundering

    The money laundering scandal in the Russian branch of Deutsche Bank expands.

    According to new data, Russian customers conducted illegal bank operations worth 10 billion U.S. dollars, reported Reuters on Tuesday, December 22nd, citing sources familiar with the situation. Previously, the amount was estimated at about $6 billion but the internal investigation into the bank turned up new suspicious transactions.

    This September the bank sent the results of the investigation to the authorities …