Transparency International has published a report, saying that its Russian associate had discovered a laundering scheme using a bogus trading operation, with $820 million siphoned out of Russia in just 3 years. In 2015, in 2015 a company based in Moscow Oblast imported into Russia an injection moulding machine bought from a Latvian company. This type of machine is used to blow mould plastic bottles. The price of this machine stated in the income declaration was almost 800 times more than its market price. The machine itself never even crossed the border. A study of customs’ databases and public registers found out that it was not the only case of this kind. Deal after deal was used to siphon about $820 million from Russia in 3 years. The scheme involved about 130 companies from Russia and other countries. These companies had accounts in 28 Russian banks and 11 foreign banks. 11 of these Russian banks had their licenses revoked soon afterwards, mainly due to violations of AML legislation; some of the foreign banks taking part in the schemes were also involved in scandals with dirty money from post-Soviet countries. The scheme was extensive enough to include law enforcement officials, bankers, public officials and downright criminals.
https://transparency.org.ru/special_posts/bottlelaundromat/en.php
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