WHO KNEW?
WHAT? WHEN?
IS THERE A
COVER-UP STILL GOING ON?


"In any Russian village people aged 5 to 85, five or six years ago could have told you the same thing we saw in the pages of the international press." Grigory Yavlinsky Russian Parliament Opposition Leader

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"It is truly impossible in many instances to differentiate between Russian organized  crime and the Russian state"

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"Russian organized crime can use its resources to corrupt institutions here in the United States. The recent case involving the Bank of New York may prove to be one such example.

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"Organized crime shaped the post communist Russian banking industry and now manages it."

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"Russia is the biggest mafia state in the world, the super power of crime that is devouring the state from top to bottom."

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"While the U.S. and the West were bailing out Russia's economy with money from the IMF and the World Bank, 700 Russian officials were reaping the financial benefits of insider trading..."


Dick Armey
House Majority Leader

"A substantial portion of the American taxpayer money to the IMF may now be financing the lavish lifestyles of Russian oligarchs"

Did the NY Times reporter who broke the Bank of New York story, become a patsy for Russian mob? True Story Behind O'Brien's Story.

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Arthur Christy Inkombank's lawyer
(former US Attorney)
U.S. LAWYERS HIRED AS SPIN DOCTORS FOR RUSSIAN MOB

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RUSSIA'S ROAD TO CORRUPTION Speaker's Advisory Group on Russia

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American Russian Law Institute
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A not-for-profit tax exempt public policy research and advisory organization

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RUSSIAN FINANCIAL CRISIS

AN ACT OF GOD OR THE BANK HEIST OF THE CENTURY?

 

 

DOES MONEY LAUNDERING PAY?
(Expert Opinions)

renyi2.jpg (5081 bytes) THOMAS A. RENYI
CHAIRMAN AND CEO OF THE BANK OF NEW YORK

"Allowing these accounts to remain open and active without sufficient questioning was a lapse on the part of the bank. " Renyi's testimony before the House Banking Committee.

(HOWEVER...)               

"I am pleased to report that [BoNY] has once again set new records for financial performance attaining the highest earnings in its history for the eighth consecutive  year." (Renyi's statement in The Bank of New York 1999 Annual Report)

(THEREFORE...)

BONY's compensation committee determined that "Renyi has no direct responsibility for the events resulting in the inquiry."

(AND...)

Renyi's pay in 1999 was:

Salary: $6.7 million
Stock Option Grants: $11.2 million
Stock Option Exercises: $7.6 million
Unexercised Stock Options: $48.9 million

Bank of NY's Renyi got7 $12.1 million bonus in 2000 , 03/20/2001 (REUTERS)

(SO...)

Renyi remains BoNY's CEO and Chairman. The stock of the Bank amidst the money laundering revelations reached all times highs. 


Edwards.gif (8787 bytes)LUCY EDWARDS
FORMER SENIOR VICE PRESIDENT OF THE BANK OF NEW YORK

"From late 1995 until 1999, as a vice president of Bank of New York, I agreed with my husband, Peter Berlin, and other people and entities to set up accounts at the Bank of New York for three entities, Benex, BECS and Lowland, for various purposes which were illegal under United States law. I did so to facilitate the movement of funds into and out of Russia, and to accomplish a number of objects which either knew were unlawful or deliberately closed my eyes to that I had reason to know was unlawful activity.

I personally undertook various acts in order to further this illegal agreement... In these transactions, I acted to benefit myself and my husband, and to develop more Russian business for the Eastern European Division of the Bank of New York..." (Edwards' admissions to money laundering crimes in Manhattan Federal Court)

Edwards pleaded guilty to money laundering, unlicensed banking activity and immigration fraud, but was never sentenced.


natasha3.jpg (56379 bytes)NATASHA GURFINKEL- KAGALOVSKY, FORMER SENIOR VICE PRESIDENT OF THE BANK OF NEW YORK

"I hope to find justice in Russian Courts ..." Kagalovsky resigned from her 900,000+ job at BoNY amid the FBI investigation into money   laundering matters and sued BoNY in Moscow court for being used as a scapegoat to distract attention from "serious problems in other parts of the bank" and "to protect the employees of American origin who were really connected with the accounts under investigation." Her suit seeks $270 million in damages against the bank and the executives even though BoNY offered her to exercise millions of dollars in stock options. Gurfinkel was never charged and resides in luxurious limestone in a fashionable area of London. In Nocvember of 2001, BoNY settled with Kagalovsky for $5 million  in exchange for her agreeing to testify against BoNY shareholders in a Federal lawsuit in New York. More ...


vin-col.jpg (5439 bytes) VLADIMIR VINOGRADOV FORMER PRESIDENT OF INKOMBANK

"Perhaps there are people wealthier people than me in Russia, I don't know..." (Statement in an interview) More ...


mogilevich.jpg (13448 bytes)SEMYON MOGILEVICH
NOTORIOUS RUSSIAN DON AND "SILENT PARTNER" IN INKOMBANK

"I used to be a rich man, not anymore" (Statement in an interview)  More...

 

 

 

 

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RUSSIAN MOB
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vs.   A.R.L.I.

 

ARLI on Capitol Hill
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Congressional Statement of Emanuel Zeltser, Director and  General Counsel of ARLI

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Russian mob controlled bank at the_heart
of the money-
laundering scandal

 

 

TERRORISM and
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MONEY LAUNDERING

 

 

The Bank of New York
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money laundering scandal

 

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The first official English language reference source of Russian commercial laws
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Compiled, translated and codified by the staff of American Russian Law Institute: Emanuel E. Zeltser, Esq., Anna Reid, LL.M., LL.D., and Alexander Fishkin, LL.D.  together with the Academy of  the Ministry of Justice of Russia, and  the Law School of the University of Pittsburgh

 

 

The untold story of the Bank of New York, global money laundering and financing of international terror.