Thursday, March 30, 2023

A Swiss Slap on the Wrist for Putin's Moneymen

>Four bankers who allowed a friend of Vladimir Putin to deposit huge sums in Swiss banks have been found guilty of lacking due diligence.

The former executives at the Zurich branch of Russia's Gazprombank were given hefty fines for helping musician Sergei Roldugin, nicknamed "Putin's wallet".
...
Three of the convicted bankers are Russian and one is Swiss. They were given fines totalling 741,000 Swiss francs (£655,600), suspended for two years.

The men, who cannot be identified under Swiss reporting restrictions, said they would appeal against the Swiss court's decision.

The Zurich court could not prove the four had doubts when the Russian musician turned up with millions of dollars. But the verdict says they should have, and failed to act.

No prison time and a financial slap on the wrists for those guys. I have little doubt that, if they keep their mouths shut, that the Russians will find some way to make them whole.

This case smells like the Swiss are tryint to show that they are doing something to shut down Putin's cash laundromat while substantively doing jack-point-shit.

I would like to be proven wrong. But let's be clear: When it comes to cash, the Swiss bankers are about as amoral as they come.

1 comment:

  1. This case smells like the Swiss are tryint to show that they are doing something to shut down Putin's cash laundromat while substantively doing jack-point-shit.
    Yes, but that's their whole shtick in everything: laundering money for the world's "elite"

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