Dubai exposed Russian money laundering pattern by Swiss Bank

The Financial Department of the International Financial Center of Dubai in Tag -Heart of 2024 imposed a fine of nearly $ 1 million in a private banker of the Dubai division of the Swiss Bank Mirabaud Middle East Limited Peter Georgiu. He was accused of misleading, cheating and complexity of employer violations. The Moscow Times reported it.

The decision has to do with the maintenance of Russia’s money. The investigation states that from June 2018 to October 2021, Georgiu exceeds a system of arguing money laundering when working with a group of more than 10 companies. These companies belong to the founder of an unnamed Russian financial conglomery, Cyprus policy and a former international football player living in Cyprus.

Through the accounts of these companies, operations are carried out by about $ 124 million. The regulator came to the conclusion that the football player was just the nominal with -owned by the companies, and the real beneficiaries remained hidden.

Swiss Bank Mirabaud, founded in 1819, mid -last year managed properties worth more than $ 30 billion and part of the top 15 of the largest banks in Switzerland. Among the clients are the Russians. The bank served in billions of Farhad Akhmedov, a scandal Finaport Investment Group, in which the terrifying operation of insurance tycoon Alexander Kondratenkova from Russia took place. In long history, the bank has repeatedly attracted the attention of regulators to various constituents. In 2020, Tribune de Genève reported that the Swiss prosecutor’s office was conducting an investigation of $ 100 million, owned by the former king of Spain Huan Carlos I and the Mirabaud open to the Geneva branch.

Remember that it has become more difficult for Russian citizens to obtain a visa in Cyprus due to the tightening of the requirements introduced by the Republic’s authorities.