10.2 C
London
Thursday, February 22, 2024

4 bankers convicted over Swiss account of longtime Putin pal

Must read

- Advertisement -


4 former bankers with the Swiss affiliate of a key Russian financial institution have been discovered responsible of failing to correctly examine accounts opened within the identify of a Russian cellist with longtime ties to President Vladimir Putin

ByJAMEY KEATEN Related Press

GENEVA — 4 former bankers with the Swiss affiliate of a key Russian financial institution have been discovered responsible Thursday of failing to correctly examine accounts opened within the identify of a Russian cellist with longtime ties to President Vladimir Putin.

The defendants have been handed suspended sentences in Zurich district courtroom that, if violated, could lead on collectively to a whole lot of hundreds of Swiss francs in fines.

The decision follows a one-day trial on March 8 primarily based on details about secret monetary flows revealed within the Panama Papers leaks in 2016 that implicated musician and Putin’s childhood pal Sergei Roldugin. It took years for prosecutors to unravel the online of cash and produce the case to courtroom.

- Advertisement -

The trial opened a uncommon window into allegations from the Panama Papers {that a} member of Putin’s circle of associates helped funnel thousands and thousands overseas and that monetary staff could have turned a blind eye to such inflows. Putin has denied the accusations.

The previous Gazprombank staff — three Russian-born and one Swiss-born, who couldn’t be named underneath Swiss legislation — have been charged with failing to adequately examine whether or not Roldugin truly owned the belongings within the accounts. He was a financial institution buyer from 2014 to 2016.

All 4 defendants denied the fees, which embody allegations of violating Swiss anti-money-laundering legislation. Gazprombank Switzerland is within the means of winding down its operations and was not itself dealing with costs.

In an announcement, the Zurich regional prosecutors workplace mentioned it welcomed the verdicts as “an vital sign that due diligence obligations underneath cash laundering legislation should be noticed.”



Source link

More articles

- Advertisement -

Latest article