CRISIS REPORTS
US AND INTERNATIONAL PRESS ON
RUSSIAN MONEY LAUNDERING
Foreign Investors Criticize Deals by Russian
Gas Giant
Questions About Asset Transfers May Provide Challenge to Putin
Washington Post December 24, 2000. The huge natural gas monopoly Gazprom, one of
Russia's largest enterprises, has transferred hundreds of millions of dollars in assets
outside the company in recent years while signing lucrative deals with a firm largely
owned by Gazprom's current and former directors, executives and their relatives, documents
show.
Global Money Launderers
December 22, 2000 New York Times. America's security is threatened by the
spread of international crime cartels, a dark side of globalization. A valuable new White
House report documents how the collapse of the Soviet Union, the lowering of trade
barriers and advances in telecommunications have increased the reach of crime syndicates,
from Russia and Eastern Europe to Asia, Latin America and the diamond-rich war zones of
Africa... ...In the wake of the Asian and Russian financial crises and last year's Bank of
New York scandal, in which Russian oligarchs moved billions through accounts at the bank,
the Group of 8 industrialized countries started a campaign to "name and shame"
countries that were lax about laundering.
Bank of New York Loses Yet
Another Round In Court
NEW YORK, DECEMBER 18 (MT) – A decision and order filed on December 15 in the
Supreme Court of the State of New York denied BoNY’s request to halt BoNY shareholders'
investigation into alleged corruption and money laundering by BoNY’s highest management.
Judge in
Bank of New York Case Concludes Charges are not Frivolous
DECEMBER 13, 2000 (MT) – Today US District Judge Denny Chin once again denied
BoNY’s request to halt BoNY’s shareholders investigation into alleged corruption and
money laundering by BoNY’s highest management. Judge ruled that the “substantial
charges” against BoNY have been supported by “detailed factual allegations” and are
“nonfrivolous.”
Russian
To Sign U.N. Crime Treaty
Dec. 11, 2000 (AP) Russia said Monday it will sign a United Nations treaty aimed
at combatting international crime, including money laundering and trafficking in women for
prostitution. The treaty also includes measures to protect witnesses who testify against
crime groups and holds multinational companies liable if implicated in money laundering
cases.
Have the World
Bank Investigators Suppressed Evidence of the Bank of New York Abuses Involving Aid to
Russia? (MI-PP-8134)
Citibank
laundering claim
12/10/2000 The Independent - London JAMES CRUICKSHANK IN NEW YORK. The
lapses in compliance and monitoring in the company's Citibanking unit have come to light
at a time of heightened sensitivity over Russian fund transfers through US banks because
of the money- laundering investigation into about $7bn in Russian funds transferred
through accounts at Bank of New York . That was revealed last year when the Russians asked
the FBI for help in tracing $300,000 in ransom money from a kidnapping which led to the
money- laundering operation at the Bank of New York
The Billion-Dollar
Shack
12/10/2000 ... last year's Bank of New York
money- laundering scandal, which rocked the financial world, washed $7 billion... ...The
recent Bank of New York scandal revealed not only the latest techniques in money
laundering but also the critical role a tiny nation like Nauru can play. The scheme was
designed by Russian bankers but was run by a married couple in New York -- Peter Berlin
and Lucy Edwards, a vice president of the Bank of New York . (Edwards was born Ludmilla
Pritsker in Leningrad.) Beginning in Moscow, two established banks, Sobinbank and MDM,
opened two separate banks -- Depozitarno-Kliringovy Bank, or DKB, and Flamingo Bank -- to
serve as the conduits for fleeing funds.
Citigroup
Concedes Lapses in Transfer of Russian Funds
12/01/2000 Dow Jones Business News. Citigroup Inc. is acknowledging
lapses in its U.S. branch-banking operations that allowed about $725 million in
questionable Russian funds to flow through more than 100 accounts from 1991 to this year,
much of which went to offshore banking havens... ...The lapses in compliance and
monitoring in the company's Citibanking unit have come to light at a time of heightened
sensitivity toward Russian fund transfers through U.S. banks because of the money-
laundering investigation into about $7 billion in Russian funds transferred through
accounts at Bank of New York Co.
'Easy'
money laundering in US
BBC November 30, 2000. An investigation by the
United States Congress has concluded that it is not difficult for foreigners to use US
banks for money laundering... ...An investigation last year found that Russian criminals
had laundered some $7bn through accounts at the Bank of New York.
GAO Cites Bank Lapses,
Suspects Laundering
11/30/2000 Los Angeles Times WASHINGTON -- Financial services
giant Citigroup Inc. and Commercial Bank of San Francisco violated control rules and
allowed about $1 billion in possibly illicit Eastern European money to move through their
accounts, congressional investigators say.
Inquiry Grows in Laundering of Money
New York Times By RAYMOND BONNER, WASHINGTON, Nov. 29, 2000. A Congressional
inquiry has found that it is "relatively easy" for foreigners to hide their
identities and form shell companies here that can launder money through American banks.
Bank of New York, Renyi, Lose Bid to
Dismiss Shareholders' Suit
New York, Nov. 28 (Bloomberg) -- The Bank of New York has lost a bid to dismiss a
suit alleging that 19 senior officials allowed the bank to launder money as it
aggressively expanded in Russia. U.S. District Judge Denny Chin on Nov. 13 refused to
dismiss or suspend the suit, which names the bank's chairman and chief executive Thomas
Renyi as a defendant. Bank lawyers had asked Chin to permit the bank's special litigation
committee to complete an internal investigation of whether the suit had merit.
Swiss Raise Sum in Bank Case,
to $500 Million
New York Times, November 15, 2000; By ELIZABETH OLSON. An investigation has
turned up evidence that $500 million, far more than previously believed, was transferred
to Swiss banks from accounts at the Bank of New York as part of a Russian plot to avoid
taxes and launder money.
Bank
Of NY/Suit -2: Seeks $40M Plus Interest, Fees
11/15/2000 Federal Filings Newswires -- Bank of New York (BK) is
being sued by three alleged shareholders of Joint Stock Bank Inkombank , according
to the company's most recent quarterly report filed with the Securities and Exchange
Commission.
Laundering of Russian funds
through Swiss banks "far larger" than thought
11/14/2000, BBC Monitoring. The size of Russian funds laundered through
the Bank of New York , and transferred through Swiss accounts, has turned out to be far
larger than previously reported. During a seminar on corruption, Geneva judge, Laurent
Kasper-Ansermet, revealed...
Judge Doubts the Bank of New York can
Investigate Itself
NOVEMBER 13 (MT-WIRE) – Today federal judge Denny Chin denied BoNY
request to stay the lawsuit brought by BoNY shareholders against its management to give
BoNY’s directors time to investigate allegations of wrongdoing by BoNY’s management on
their own. Noting that there is a “substantial question” whether BoNY’s newly formed
“special litigation committee (SLC)”, commissioned to investigate shareholders’
allegations, is truly independent and disinterested, judge Chin wrote in his decision:
“it is difficult to imagine that the SLC will reach any conclusion other than that the
[shareholders’] complaint lacks merit...”
BoNY Lawyers Argue in Court that Russian Justice Ministry is not a
Government Body
Moscow Telegraph, November 10,
2000. by: Rod DOZOROV in Moscow and Andy LIGHT in Washington. New York, (MT-Wire) Bank of New York lawyer, Richard Klapper,
submitted an affidavit in New York federal court stating that the Ministry of Justice of
Russia is in reality a "bar association", not an agency of the Russian
Government.
Immense
clout of ex-Soviet gangsters revealed
South China Morning Post 11/02/2000 HUNGARY Michael Leidig in Vienna. In
the early 1990s, the Hungarian police were fearful of gangsters from the former Soviet
Union
Around-The-Globe:
Washing Money Just Got Harder
FORBES.com; October 30, 2000. Eleven of the world's
largest banks met in Geneva today to adopt global anti-money-laundering guidelines for
private banks. (78%)
Ruling in Money-Laundering Trial
Erodes a Crackdown by the Swiss
October 29, 2000; By ELIZABETH OLSON
Intl
Banks Sign Anti-Money Laundering Agreement
Dow Jones Newswires, 10/23/00 NEW YORK -- Eleven international
private banks agreed to adopt a new set of anti-money laundering
guidelines.
Bank of NY's Renyi files to sell
$2.4 mln in stock
Reuters, 10/23/2000. The Bank of New York's (NYSE:BK - news) chief executive and chairman, Thomas
Renyi, plans to sell company shares valued at about $2.4 million, a regulatory filing
showed on Monday. Renyi, who recently was accused in a shareholder suit of personally
profiting from complex schemes that moved money out of Russia to offshore accounts,
intends to sell about 45,000 common shares, according to a filing made with the Securities
and Exchange Commission.
Using Bankruptcy as a Takeover
Tool
The New York Times, By SABRINA TAVERNISE, October 7, 2000.
NOVOKUZNETSK, Russia The Novokuznetsk Aluminum Plant here turns out 276,000 tons of metal
a year, more than 10 percent of Russia's total production and enough to build more than
3,500 Boeing 747's...
Investors Are Betting That Bank
of New York Will Emerge Unscathed From Investigation
By Wall Street Journal reporters Paul Beckett and Steve LeVine in New York and David Cloud
in Washington. 10/03/2000. Federal authorities hotly pursue an
investigation into a huge money- laundering operation at Bank of New York
Co. And one of the bank's former executives has pleaded guilty to conspiracy charges
in the case and is cooperating with criminal prosecutors.
US seeks IMF, World Bank
role in money-laundering curbs
September 21, 2000, Reuters By Joanne Morrison. ARLINGTON, Va, Sept 21
(Reuters) - A top U.S. Treasury official said Thursday the United States will seek a
stronger role for the International Monetary Fund and the World Bank in fighting
international money laundering, often conducted through banks in small and remote
countries.
Russia's Sobinbank seen
pipeline in laundering scheme
NEW YORK, Sept 15, 2000 (Reuters) - Russian bank Sobinbank was at the
heart of a massive money laundering scheme in which Russian businessmen and criminals
illegally funneled about $7 billion through accounts at the Bank of New York Co. Inc.
(NYSE:BK - news), according to U.S. court papers. Suspected
Russian mobsters and businessmen used Bank of New York accounts held by Sobinbank and a
related Russian bank as the main pipeline to wire ill-gotten funds -- including money from
tax fraud and kidnappings -- out of Russia, documents alleged.
U.S. Officials Say Bank of New
York Transfers Involved Money in Russian Tax Cases
The New York Times 9/15/00 By BENJAMIN WEISER and LOWELL BERGMAN. In
what began as one of the biggest money-laundering investigations in United States history,
law-enforcement officials have determined that much of the wrongdoing -- tax fraud and
kidnapping -- appears to have occurred in Russia. The inquiry has also shown that the
system for moving funds through the Bank of New York was used to transfer money to
individuals connected with organized crime in Russia.
Bank
of New York Management Attacks Director of American Russian Law Institute
09/12/2000, Moscow Telegraph.
Confronted with allegations of massive corruption and negligence of BoNY’s senior
management, asserted in the lawsuit of BoNY’s shareholders against the Bank directors,
BoNY’s seniors endeavored a peculiar spin -- blaming their trouble on ARLI Director,
Emanuel Zeltser
Bank of New York Chairman Is
Accused Of Profiting on Russian Schemes in Suit
The Wall Street Journal By Paul Beckett 09/12/2000. The amended suit,
unsealed late last week, alleges that 54-year-old Mr. Renyi, the bank's chairman since
1998, was paid an unspecified amount through interests assigned to him in offshore
companies that received funds allegedly stolen from Russian banks. Integral to the
money-moving operation was Inkombank, a now-moribund Russian bank that in the 1990s
maintained a "correspondent" banking relationship with Bank of New York, which
allowed Inkombank to transfer dollars around the world.
Russia Aluminum Tycoon On Murder Charge
Released On Bail August 24, 2000 MOSCOW (AP) Russian aluminum tycoon Anatoly
Bykov, charged with ordering a contract murder and laundering hundreds of millions of
dollars in a case that he contends is a set-up, was released on bail Thursday.
Swiss press U.S. for documents in
IMF Russia probe
August 23, 2000 Reuters, By Elif Kaban GENEVA. A Swiss judge
investigating whether billions of dollars of IMF money for Russia was misused has formally
asked the United States to hand over details of bank transactions between the Fund and
Russia's central bank.
Swiss magistrate raids banks
in IMF Russia probe
August 14, 2000, Reuters. A Swiss magistrate said on Monday he had raided
two banks as part of a probe into whether a $4.8 billion IMF credit tranche to Russia was
diverted via secret Swiss bank accounts.
Judge Orders Raids On Swiss Banks In IMF
Case
August 14, 2000 GENEVA (AP)--A Swiss magistrate said Monday he has
carried out raids on two banks during an investigation into the alleged diversion of
billions of dollars in international aid funds to Russia.
World Bank Fails To Prove
Russian Leaked Its Secrets But Ex-Official Violated Rules By Taking Money From Firm
07/03/2000 The Wall Street Journal Europe By Paul Beckett. The World Bank said an
eight-month internal investigation had failed to substantiate allegations that a former
senior member of Russia's World Bank mission in Washington passed confidential inside
information to a Russian commercial bank in 1993. "It is impossible to substantiate
the authenticity of the letter because no one involved in the investigation had the
original," World Bank spokeswoman Merrell Tuck said But the bank concluded that
Leonid Grigoriev, while working in the Russian executive director's office at the World
Bank, violated bank policy by establishing a business relationship with now-defunct Inkombank
...
US Banks Asked To Give Information On
Correspondent Accts
June 6, 2000; Dow Jones Newswires; By JONATHAN NICHOLSON -- "A
number" of banks will be formally subpoenaed to provide information regarding
correspondent account services they provide for foreign institutions, a staff member for a
Senate panel said Tuesday.
Bank of NY Executive, Demoted in Scandal,
Claims Bias in Suit
New York, June 6, 2000 (Bloomberg) -- The Bank of New York
Co. Inc. has been sued by a former vice-president who says he was demoted because of bias
against men and not, as the bank claimed, because he failed to catch a $7 billion money
laundering scheme.
Dirty
Dollars
Insight Magazine By Kelly Patricia O’Meara
05/15/2000 Money-laundering laws have failed to clean up drug trafficking, but
with banks reaping huge profits by being part of the deal, the problem is monumental.
Tim
O'Brien and The Times Part Company
April 28, 2000 (MT-WIRE) Timothy
L. O'Brien, the New York Times reporter who broke the Bank of New York -Russian money
laundering story resigns in disgrace.
Bonus of the World Bank
$33 Million for Assistance in Stealing Billions
by Alexander Maksimov (Russian Bazaar Weekly, April 13-19, 2000 - abbridged translation
from Russian) An unusual story has unfolded within the World Bank. At the very peak of
BONY investigation name of Leonid Grigoriev, a former representative of Russia in the
World Bank, has transpired. He was suspected of passing a secret professional information
from his venerable institution over to certain individuals at Inkombank. This story was
unraveled by reporters who obtained a copy of one of the faxes confirming intriguing
correspondence between Grigoriev and his Moscow banker-buddies
Russia's Shokhin on the Bank of New York
Scandal: Comment
Bloomberg, April 5, 2000
Bank
of New York CEO's Pay Is Cut In Wake of Money-Laundering Probe
The Wall Street Journal, April 3, 2000
BONY EMPLOYEE PLEADS GUILTY IN MONEY $CAM
By: DAREH GREGORIAN; March 29, 2000
Who Gets the Aces and the Kings?
Moscow News by: Emily Topol
Former Employee to Enter Guilty Plea
For Perjury in Bank of New York Case
Wall Street Journal March 27, 2000
Wolfehunt
Moscow Telegraph by: EMILY TOPOL; March 21, 2000
Bank Of New York Fires
Executive For Not Reporting Pay Linked To Benex . March 13, 2000 DJN
NEW YORK -(Dow Jones)- Bank of New York Co. fired another executive in its Eastern
European division amid an investigation into a money-transfer scheme that funneled $7
billion from Russia through the bank from 1996 until last year, Monday's Wall Street
Journal reported. Paul Turitzin , a 41-year-old vice president, was dismissed last week
for allegedly failing four years ago to report to the bank that he received approximately
$250 as a "thank you" ...
Vladimir
Pozner’s TIME AND US Special guest: Emanuel Zeltser March 5, 2000, ORTV
Ex-Executive Is Suing Bank of New York
The Wall Street Journal; by Andrew Higgins and Ann Davis
March 1, 2000
Case # 914
Moscow News by: EMILY TOPOL; February 22, 2000
Is Times Reporter Making Fool of Himself?
February 15, 2000 (MT-WIRE) In his bizarre January 17, 2000 article Timothy
L. O'Brien wrote that Emanuel Zeltser, once the Times primary source for the BoNY-Russian
laundering stories, discontinued granting interviews to the idiosyncratic reporter...
Books in Brief: Nonfiction
New York Times; Book Review Desk; By Timothy L. O'Brien
February 6, 2000
Reuters.
Swiss order the arrest of Yeltsin ex-aide By Elif Kaban
REUTERS JAN 27, 2000 DAVIS,
Switzerland, Jan 27 (Reuters) - Swiss authorities investigating a Russian money-laundering
affair have issued an international arrest warrant for former top Kremlin official Pavel
Borodin, a Swiss magistrate said on Thursday.
Russian Nouveau Riche Applaud O'Brien
Jan. 20 (MT-WIRE) Tim O’Brien’s article in the New York Times
("Doubts Raised About Source in Bank of New York Inquiry") is receiving rave
reviews by Russia’s corrupt financial elite. "We’ve always said that Americans
fabricated the whole story" proclaimed a commentator of the Most-Media...
Source Turns on Times Reporter
New York Post January 17, 2000. " Is Timothy O'Brien of the New York
Times an aggressive reporter -- or simply aggressive? ... Emanuel Zeltser, a lawyer and
board member of the American Russian Law Institute, charges O'Brien went "out of
control" last August when he learned Zeltser, one of his best sources, was talking to
the Wall Street Journal and other papers. "
Times' Reporter Targets Lawyers, Witnesses
January 2, 2000 (MT-WIRE) Alarming reports from Moscow and New York show that
Russian financial racketeers are back to their usual stratagem of thwarting criminal
and civil proceedings by halting media exposure of their money laundering activity in
Russia the US.
Truth
About the IMF Money is Still Uncertain
Bridge News by Heather MacGregor; December 23, 1999
Another paradox that goes to the heart of the scandal is
Pricewaterhouse Cooper's preliminary findings on whether capital from the International
Monetary Fund were stolen through the Central Bank of Russia and then laundered through US
financial institutions to offshore havens.
Russian Launderers "Spin"
Back - The Times Reporter Teams Up with Kagalovsky's Gumshoes
December 16, 1999 (MT-WIRE) New York Times Reporter, Timothy O'Brien Joins
Campaign Against Witnesses Testifying Against Russian Mob-Controlled Banks
Slain Financier Made a Fatal Error
New York Post By: URI DAN; December 5, 1999
He had his Share of Enemies
New York Post December 4, 1999; By: JESSE ANGELO
Bank Tycoon Bumped off in Monte Carlo
New York Post By: URI DAN NEAL TRAVIS and NILES LATHEM; December 4, 1999
Russian Cons and New York
Banks
Village Voice; by LUCY KOMISAR, December 1, 1999
District Court Judge Gives Green Light to
Depose Kagalovsky
Bridge News by Heather MacGregor; November 23, 1999.
A US federal judge agreed to allow plaintiffs to subpoena former senior executive
Natasha Gurfinkel Kagalovsky to give her deposition.
US Bank Regulator 'Warned About Bribes'
The Times of London by: James Bone in New York and David Lister, November 5,
1999
Inkombank Chief Says US Officials Bribed
Moscow Telegraph, November 5, 1999. A former head of Russia's now-insolvent
Inkombank told a confidante last summer that the bank routinely paid bribes to US official
in Washington and used a mesh of offshore accounts to cover the tracks. The confidante,
who asked to be referred to by his first name Mikhail, said US officials were not
mentioned by name or agency.
Fresh Claim About Banker in 'Dirty Cash' ...
The Times of London, November 4, 1999. By JAMES BONE IN NEW YORK
AND DAVID LISTER. A KEY executive at the Bank of New York appears
to have been granted "power of attorney" over an offshore company linked to part
of a suspected money-laundering scandal. An investigation by The Times has
established that Natasha Gurfinkel Kagalovsky, who recently resigned as the head of the
Bank of New York's Eastern Europe division, was given authority in 1995 over a
Liechtenstein company, Tetra Finance Establishment.
Bank of NY Scandal Widens
Bridge News by Heather MacGregor; November 1, 1999. The Russia
money-laundering scandal is expanding to link former top Bank of New York executive
Natasha Gurfinkel Kagalovsky directly to Inkombank, a Russian bank with alleged organized
crime ties
New allegations
of money laundering through the Bank of New York CNN-Moneyline News
Hour October 28, 1999 Italian prosecutors say they've discovered evidence that
Russian criminal organizations washed millions through the bank.... "And who knows
where it's going to end up" says Emanuel Zeltser, Director of American Russian Law
Institute, "it's certainly not going to stop at Natasha Gurfinkel's level."
Former
Russian Official Of World Bank Is Probed
Wall Street Journal, October 25, 1999
World Bank Suspects Russian Passed Data to
Moscow Bank
New York Times; October 23, 1999; By DAVID E. SANGER
The Money Movers: A special report;
Tracking How Pair Went From Russia to Riches
New York Times; By TIMOTHY L. O'BRIEN and LOWELL BERGMAN, October 19, 1999
Inkombank
Used US Accounts for Sham Office
Bridge News by Heather MacGregor; October 13, 1999
The alleged operations closely resemble other transactions that are the target of an
indictment unsealed here last week as part of the international investigation into alleged
money laundering by Russian organized crime.
Did Dems Get Russian $$ Too?
New York Post
October 13, 1999
Exec quits, saying BoNY let her 'swing in the
wind' Wed.
USA Today; Oct. 13, 1999
Bank Big Quits Amid Probe of Russian Mob
Money Scam
New York Post By: JESSE ANGELO
October 13, 1999
Russian bank clients sue BoNY Depositors claim
New York bank knew about ...
USA Today, October 10, 1999, Depositors of a failed Russian bank [Inkombank]
sued the Bank of New York on Thursday, charging that BoNY helped the Russian bank defraud
customers.Plaintiffs' lawyers say depositors lost more than $500 million. The lawsuit,
filed in federal court in Manhattan, alleges that Inkombank executives embezzled from the
bank, with the knowledge and help of BoNY. "It (BoNY) facilitated theft from
thousands of depositors," says Harold Hoffman, a lawyer for the depositors, who are
mainly Russian citizens. The depositors' attorney team includes Emanuel Zeltser, who has
tangled with Inkombank in another lawsuit.
Two Firms in Money-Laundering Probe Held
Accounts at Barclays Bank of U.K.
The Wall Street Journal; October 8, 1999; NEW YORK -- Bank of New York is
facing a $1 billion lawsuit from depositors of Russia's defunct Inkombank, who allege that
the New York bank helped Inkombank managers loot hundreds of millions of dollars from
their institution by serving as a business connection to the West. Emanuel Zeltser , one
of the plaintiff's attorneys, said: "Over a hundred thousand people, primarily old
people, lost their life's savings, and the purpose of this lawsuit is to retrieve at least
some of it."
Two Firms In Bank Of New York Laundering Probe
Held Barclays Accounts
Dow Jones Business News, October 8, 1999
Inquiry on Bank Transfers Could Grow --- Money
Might Have Passed Through ...
The Wall Street Journal Europe, October 8, 1999
Ex-Inkombank
Boss Now Heads A.R.C.O.
Bridge News by Heather MacGregor; October 1, 1999
Some consider Turbanov's appointment as head of ARCO equivalent to "the fox
in the hen house".
Russia's Ruble
Shakedown
TIME Sept. 27, 1999; "Natasha said the Bank of New York would not be so
inquisitive" about Inkombank's massive money transfers through New York to obscure
offshore companies, said Emanuel Zeltser, "This is how she got a lot of the Russian
banks to do business with her," it was an open secret over there." This article may be
purchased directly from TIME, Inc.
Some Shareholders Sue Bank of New York
New York Times; September 25, 1999
Allegations help topple once-elite Russian bank
USA Today, September 24, 1999. Inkombank, once an elite Russian bank that
many hoped would lead the nation into a new era, had its license revoked by banking
officials in Moscow last year. ... In February 1995, Zeltser sued Inkombank in a New York
federal court, charging it with stealing from shareholders. The legal battle was bitter
from the outset. Inkombank's law firm, Christy & Viener, challenged Zeltser 's law
credentials and tried to have him disciplined.... Meanwhile, witnesses against Inkombank
complained of incidents they say were designed to influence their testimony...
Full Speed Ahead in Fog of Russian Banking,
Bank of New York Hits a Shoal
New York Times; September 23, 1999
Bank of N.Y. Subpoenas Loom
New York Post By: JESSE ANGELO; September 22, 1999
Russian: FBI Got Proof on BNY
New York Post By: JESSE ANGELO; September 21, 1999
Bank of N.Y. Money Trail Links Russia to
Big Biz
New York Post; By: JESSE ANGELO, September 18, 1999
U.S.
Eyes Russian-Mob Link to War-Jet Maker
New York Post; By AL GUART; September 9, 1999
Frankel Could Learn a Thing or 2 from
Russians
New York Post; By: JOHN DIZARD; September 9, 1999
Clinton's Russia Team Not Told About Fraud Probe
September 8, 1999 ![]() Los Angeles
Times By TYLER MARSHALL, RICHARD C. PADDOCK--President Clinton's senior Russia policymakers, including Vice
President Al Gore, were kept in the dark for five months about a Justice Department
investigation of alleged money laundering involving Russian criminal elements and a major
U.S. bank, U.S. officials disclosed Tuesday.
Prime Minister Says Russia Is Cooperating
in Corruption Inquiry, but Discounts Significance
New York Times; By CELESTINE BOHLEN, September 6, 1999
Swiss
Freeze Russian Bigs NY Post September 5, 1999
Swiss Investigate Possible Laundering of
Russian Money
New York Times; By JOHN TAGLIABUE; September 4, 1999
Bank of New York Dismisses Second Employee in
Laundering Case
New York Times; By RAYMOND BONNER; September 3, 1999
In Wake of Corruption Case, U.S. Focuses on
Aid to Russia
New York Times; By RICHARD W. STEVENSON; September 2, 1999
$6.75 Million Mansion Awaits Jailed
Ukrainian Owner
New York Times; By TIMOTHY L. O'BRIEN; September 1, 1999
Bank of N.Y. Starts Internal Probe
New York Post; By: JESSE ANGELO; August 31, 1999
Money Laundering Probers Say Nyet to Russian
Help
New York Post; By: JESSE ANGELO; September 1, 1999
Inkombank's questionable past
USA Today, August 30, 1999. Bank of New York's bid to help a Russian
bank sell shares to investors illustrates its aggressive charge into the controversial
business of courting Russian customers. ...Emanuel Zeltser , a lawyer opposing Inkombank
in court, says BoNY was effectively helping sell ADRs of a bank that was misrepresenting
itself in the USA as financially sound.
Suspect in Russian Money Laundering Is
Denying Any Crime
New York Times; By MICHAEL R. GORDON; August 29, 1999
Russian Trio Deny Roles in BNY Laundering
Scandal
New York Post; By: JESSE ANGELO and LAURA ITALIANO; August 29, 1999
Russian Industrialist in Money Laundering
Inquiry Accuses Moscow Aides
New York Times; By TIMOTHY L. O'BRIEN; August 28, 1999
Tape: Bank of N.Y. Bigs Knew of Russian Scam
New York Post; By AL GUART and JESSE ANGELO
August 28, 1999
Bank of N.Y. Probers Eye Yeltsin Ties
The New York Post By AL GUART and JESSE ANGELO; August 27, 1999
Bank Called Long Unaware of Big,
Suspicious Transfers
New York Times; By TIMOTHY L. O'BRIEN and RAYMOND BONNER; August 27, 1999
White Collar and Dangerous
New York Times; By ROBERT I. FRIEDMAN, August 27, 1999
Critics: Loans to Russia should be cut off
USA TODAY By James Cox; August 27, 1999
Who Robbed Russia? Did Al Gore know about
the massive lootings?
Washington Post By David Ignatius Wednesday, August 25, 1999. You can see
the question rumbling toward Al Gore like a freight train in the night: What did the vice
president know about the looting of Russia by organized crime, and why didn't he do more
to stop it?
Kremlin
link to bank fraud investigated
USA Today; Arlington; Aug 25, 1999; Jack Kelley
Reno and British Step Up Money Laundering
Inquiry at Bank of New York
New York Times By TIMOTHY L. O'BRIEN and RAYMOND BONNER; August 25, 1999
Tracing Funds Harder Than Ever, Prosecutor
Says
AGENCE FRANCE-PRESSE, August 22, 1999 (reprinted by the NY TIMES)
Russian Money-Laundering
Investigation Finds Familiar Swiss Banker in the Middle
New York Times. August 22, 1999, By TIMOTHY L. O'BRIEN with RAYMOND BONNER At
the intersection of illicit Russian money and the Bank of New York is Bruce Rappaport, a
Swiss banker who has had brushes with governmental investigators in the past and who has
long had an important connection to the bank.
Bank Made Killing on Mob
New York Post; August 21, 1999; By AL GUART. "Everybody knew for years
what was going on," Zeltser said.
The Sharp Brains Behind World-Class
Money Launder Plot
New York Post; By: DAREH GREGORIAN, August 21, 1999
Russian-Born Bankers Eyed in $10B
Scheme
New York Post, August 20, 1999; By: JESSE ANGELO
Bank in Laundering Inquiry Courted
Russians Zealously
New York Times, August 20, 1999; "Bank of New York was very happy with the
money Natasha and Galitzine were making and routinely let them run their own show,"
Mr. Zeltser said, referring to Ms. Kagalovsky and Vladimir Galitzine.
Rival Bank Alerted the
Authorities To Activity at Bank of New York
Wall Street Journal; August
20, 1999; by: PAUL BECKETT, MICHAEL ALLEN AND DAVID CLOUD
Money
Laundering Puts Focus on Bank Insiders
Chicago Tribune, August 20/1999. In 1992, Inkombank brought
its business to the Bank of New York from the Republic New York Corp. because Kagalovsky
promised to be less vigilant than Republic about the way Inkombank's accounts were handled
here, according to Emanuel E. Zeltser.
Activity at
Bank Raises Suspicions of Russian Mob Tie
New York Times; By RAYMOND BONNER with TIMOTHY L. O'BRIEN; August 19, 1999
The
Bank Won't Talk of Furor
New York Times; August 19, 1999
The
Russian Bank
Moscow Telegraph; August 10, 1999
Russian Gangsters Exploit Capitalism to
Increase Profits
New York Times; By RAYMOND BONNER; July 25, 1999
U.S. Lawyers Hired as Spin Doctors for the
Russian Mob
Moscow Telegraph; April 30, 1999.
Neutralizing
Whistle Blowers
Moscow Telegraph; April 11, 1999
RUSSIAN MOB-NEW YORK BAR, JOIN FORCES?
International: Russian bankers
in pounds 30bn aid `scam'
The Daily Telegraph 02/06/1999 Ben Aris in Moscow. OFFICIALS at
Russia's Central Bank drained billions of dollars from Russia's hard currency reserves and
International Monetary Fund loans into a Jersey company ...
THE DECLINE AND FALL OF VLADIMIR
VINOGRADOV
Radio Liberty December 22 1998; by
Julie A. Corwin. The rise of former Inkombank President Vladimir Vinogradov to the top of
Russia's financial and political circles was rapid, but his fall was even quicker. In a
little over two months, Vinogradov went from being one of Russia's handful of
"oligarchs," a small elite of powerful businessmen and financiers who reportedly
rule the nation, to the disgraced former head of a financial institution on the brink of
receivership.
Gag
Order of Judge Duffy
Moscow News by: EMILY TOPOL, December 17, 1998
Is this really a "crisis or a gigantic theft camouflaged as crisis?
Testimonial
With a Rope Around one's Neck. Inkombank's Ex-Boss Strikes the Deal of his
Life.
Moscow Telegraph; July 6, 1998
The Most Dangerous Mobster
in the World
The Village Voice; by ROBERT FRIEDMAN May 20, 1998
How
Inkombank Duped American Investors. [006]
Russia Bulletin; May 30, 1997. LOOKS LIKE FOREIGNERS WON'T GET USED TO OUR STYLE OF
'DOING BUSINESS" SOON
Killed on the Eve of March 8th Day
ITAR-TASS, March 10, 1997. Vera Kompasova, the general manager of the of the
chocolate factory resisting Inkombank's hostile takeover is murdered
executions style. Inkombank's involvement in the murder is suspected.
In Bed with a Banker
MK Daily, September 25, 1996, by: Olga Kedrin
"$1,715 undies at the Chanel Boutique purchased at
the expense of the shareholders and depositors."
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