FORMER SWISS BANK EXECUTIVE SENTENCED TO PRISON IN US FOR ROLE IN BILLION-DOLLAR INTERNATIONAL MONEY LAUNDERING SCHEME INVOLVING FUNDS EMBEZZLED FROM VENEZUELAN STATE-OWNED OIL COMPANY

A DoJ news release on 29th October reported that the former managing director and vice chairman of a Swiss bank – Matthias Krull, 44, a German national and Panamanian resident – was sentenced to 10 years in prison after previously pleading guilty for his role in a billion-dollar international scheme to launder funds embezzled from Venezuelan state-owned oil company Petróleos de Venezuela, S.A. (PDVSA).

https://www.justice.gov/opa/pr/former-swiss-bank-executive-sentenced-prison-role-billion-dollar-international-money

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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