Prosecutors in the Eastern District of NY are investigating members of Putin’s inner circle for\u00a0 money-laundering.\u00a0\u00a0 Did billionaire Russian gas trader and Putin associate Gennady Timchenko transfer funds related to allegedly corrupt deals in Russia through the U.S. financial system? The Justice Department is helping the investigation.<\/p>\n
The prosecutors are investigating transactions in which Gunvor Group, a commodities firm founded by Timchenko, bought oil from Russia’s Rosneft and sold it to third parties.<\/p>\n
The report said the transactions predated U.S. sanctions against Russia introduced in March on Timchenko and others over the Ukraine crisis. Timchenko is also co-owner of Russia’s No. 2 gas producer Novatek.<\/p>\n
Transfers of funds related to the transactions could constitute illegal money laundering if the funds were found to have originated from illicit activity such as, for example, irregular sales of state assets such as oil, the newspaper said.<\/p>\n
The newspaper cited one source as saying the probe was also examining whether any of Putin’s personal wealth was connected to allegedly illicit funds.<\/p>\n
The U.S. Treasury has said Putin has investments in Gunvor and may have access to Gunvor’s funds. Both the company and the Kremlin have strenuously denied those allegations.<\/p>\n
“When it comes to President Putin, he does not and never has had any ownership, beneficial or otherwise in Gunvor. He is not a beneficiary of Gunvor or its activities, directly or indirectly,” Gunvor said.<\/p>\n
Prosecutors in the Eastern District of NY are investigating members of Putin’s inner circle for\u00a0 money-laundering.\u00a0\u00a0 Did billionaire Russian gas trader and Putin associate Gennady Timchenko transfer funds related to allegedly corrupt deals in Russia through the U.S. financial system? … Continue reading ![\"money](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/11\/money-laundering.jpg\")
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