First it was the Panama Papers, but now what is known as the Russian Laundromat has also been exposed.
The massive scheme involved $20 billion to $80 billion laundered out of Russia from 2010 to 2014 through banks around the world in 96 countries, including Barbados.
The scheme was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP), a consortium of investigative journalists in Europe, in 2014, but it was only this year that the group was able to obtain bank records detailing the transactions.
There were 96 countries listed where some of the tainted money reportedly ended up.
On its website, the OCCRP created a database showing all the countries which received monies and naming the companies involved. In relation to Barbados, they revealed that two companies had deposited just over a million dollars – $676 203 for one company and $479 718, for the other, in banks in Barbados, believed to be associated with the scheme. (MB)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
