Four bankers who helped Putin's friend set up Swiss bank account convicted
The Hindu
Four bankers were found guilty of helping Russian Sergey Roldugin, a concert cellist who has been dubbed “Putin’s wallet” by the Swiss government
Four bankers who helped a close friend of Vladimir Putin move millions of francs through Swiss bank accounts have been convicted of failing to perform due diligence in financial transactions.
The four were found guilty on Thursday of helping Sergey Roldugin, a concert cellist who has been dubbed "Putin's wallet" by the Swiss government.
The executives — three Russians and one Swiss — helped Mr. Roldugin, who is godfather to Mr. Putin's eldest daughter Maria, deposit millions of francs in Swiss bank accounts between 2014 and 2016.
The men, who cannot be identified under Swiss reporting restrictions, were found guilty at a hearing at Zurich District Court and were given fines totaling 741,000 Swiss francs ($809,040.29), suspended for two years.
In Switzerland, banks are obliged to reject or terminate business relationships if there are doubts about the identity of the contracting party.
A spokesman for Gazprombank, where the four executives worked, described the decision as a "black day," adding the bankers would all appeal.
The four executives helped Roldugin operate two bank accounts at Gazprombank in Zurich, through which millions of francs flowed, without conducting sufficient checks, the court heard.