On 4 March, OCCRP reported that politicians, criminals and members of the Russian elite, including President Vladimir Putin’s friend Sergey Roldugin (who is not accused of anything illegal), funneled billions of dollars through a hidden banking network.  1.3 million leaked banking records, and other documents, are said to reveal the $8.8 billion scheme. The investigation is named after the Russian private investment bank, Troika Dialog, that allegedly created and operated the scheme, using at least 35 bank accounts at Lithuanian bank, Ukio Bankas.  Documents indicate that the scheme, which ran for 8 years till 2013, combined criminal and legitimate money, making its sources difficult to trace.  Recipients of the transfers included Eastern European millionaires who used the cash to buy luxury European properties, yachts and sports tickets.



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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