Swiss Court Finds Bankers Guilty of Failing to Conduct Due Diligence on Bank Account for Putin Confidant
A Swiss court found four executives at Gazprombank's Zurich branch guilty of failing to conduct due diligence before opening bank accounts for Russian cellist and Vladimir Putin associate Sergei Roldugin, the BBC reported. The Zurich District Court ruled that it…
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was clear the millions of Swiss francs held in the accounts from 2014 to 2016 did not belong to Roldugin because he had no income, also finding that the bankers should have asked more about the source of the funds, according to another report by Reuters. The four bankers were fined more than $811,000 in total and suspended for two years.