Swiss Banks Managed Funds of Putin’s Associates
Published: Thursday, Sep 14th 2023, 09:40
Aktualisiert am: Freitag, 13. Oktober 2023, 14:12
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Swiss banks have been found to have maintained business relationships with high-ranking Russian officials and Putin-allies, despite sanctions and money laundering allegations. The Bank Julius Bär is at the centre of the report, but other private banks such as Pictet, Lombard Odier and Reyl are also mentioned. Julius Bär had Leonid Reiman as a customer until 2021, despite the fact that he had been accused of money laundering and having close ties to the Putin regime. According to an international court, Reiman had enriched himself from Russian state property in the 2000s. Despite this, Julius Bär continued to do business with him. The leaked documents show that Reiman's wealth on Zurich accounts had grown to over 30 million euros by 2021. In addition, in 2014, after the Russian troops had invaded Crimea, Reiman opened an investment portfolio of 8 million US dollars at Julius Bär. The report also mentions the family of Alexander Ponomarenko, the head of the company Moswodokanal, which supplies front-line soldiers with war material. The data leak showed that Ponomarenko's daughter and his long-term partner had also been storing millions of dollars in Switzerland during the war. By the end of 2022, the Ponomarenko family had around 40 million dollars in accounts at the Bank Reyl, Julius Bär and Pictet. His long-term partner had a portfolio of almost 26 million dollars at Julius Bär, and 4.5 million at Pictet. His daughter had 9.5 million dollars at Bank Reyl and 140,000 dollars at Julius Bär.nnnnnnnnnnnnnnnnnnnnnnnnnn
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