MOSCOW, March 3 (RIA Novosti) - The Bank...
Customs Service was not immediately available for a comment.In the early 2000's several countries accused employees at the Bank of New York of involvement in organizing tax evasion and money laundering schemes, primarily with the use of the shadow economy. The bank fired several staff responsible for the Russian money transfers.
According to Steven Marx, a U.S. lawyer acting for the Russian customs service, under U.S. law the plaintiff can demand compensation of up to three times the laundered sum. He said the bank's management has acknowledged its involvement in the laundering of around $7.5 billion.
The main case in Russia related to the bank's management of U.S. correspondent accounts at Incombank, formerly Russia's second-largest bank, which was declared bankrupt in the late 1990s.
Moscow's arbitration court is to resume hearings on the case on March 10.
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