Switzerland: Geneva opens money laundering probe into ‘Putin’s banker’
26 Jul 2016

Henri Della Casa, a press spokesperson for the Geneva investigators, on Monday confirmed earlier reports of the investigation and the blocked funds in the SonntagsZeitung and Le Matin Dimanche newspapers. However, he did not specify the amount of the blocked funds or which financial institutions are involved.

The newspaper reports revealed that Pugachev, a former Russian senator who later became known as “Putin’s banker”, is accused of having laundered some $700 million via Geneva’s Banque Societé Génerale. Those money laundering activities were brought to light via the Panama Papers, which revealed offshore banking data stemming from the Panamanian firm Mossack Fonseca.

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