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Panama Papers: Putin associates linked to 'money laundering'
Source: BBC
Panama Papers: Putin associates linked to 'money laundering'
By David Thompson
BBC Panorama
3 April 2016 Europe
A suspected money laundering ring involving close associates of Vladimir Putin has been uncovered in a leak of confidential documents.
The billion-dollar operation was run by Bank Rossiya, which is subject to US and EU sanctions following Russia's annexation of Crimea.
Evidence seen by BBC Panorama reveals for the first time how the bank operates.
Documents show how money has been channelled through offshore companies.
They suggest Sonnette Overseas, International Media Overseas, Sunbarn and Sandalwood Continental have profited from fake share transactions, bogus consulting deals, uncommercial loans and the purchase of under-priced assets.
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By David Thompson
BBC Panorama
3 April 2016 Europe
A suspected money laundering ring involving close associates of Vladimir Putin has been uncovered in a leak of confidential documents.
The billion-dollar operation was run by Bank Rossiya, which is subject to US and EU sanctions following Russia's annexation of Crimea.
Evidence seen by BBC Panorama reveals for the first time how the bank operates.
Documents show how money has been channelled through offshore companies.
They suggest Sonnette Overseas, International Media Overseas, Sunbarn and Sandalwood Continental have profited from fake share transactions, bogus consulting deals, uncommercial loans and the purchase of under-priced assets.
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Read more: http://www.bbc.com/news/world-europe-35918845