Word: moneys
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Dates: during 1990-1999
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...bank fees. When she wanted to snatch the business of the rich Moscow-based Inkombank away from Republic National Bank in 1992, says Emanuel Zeltser, a lawyer who worked for the Russian outfit, "Natasha said the Bank of New York would not be so inquisitive" about Inkombank's massive money transfers through New York to obscure offshore companies. "This is how she got a lot of the Russian banks to do business with her," he says. "It was an open secret over there...
...Bank of New York irregularity is only one on a list of scandals, involving alleged money laundering, mob operations and corruption in high places, that are suddenly in the spotlight. The stories are old news in Moscow, where the highway robbery that has stripped the country of assets and enriched a handful of crony capitalists has been going on ever since "reform" arrived in 1991. An impoverished, disillusioned populace long ago lost its capacity for outrage. With bombs exploding around their country, looming war in the Caucasus and rumors of a political crisis to worry about, Russians have written...
...scandal that set off Washington's alarms was the one that touched home at the Bank of New York. Federal agents were tipped off in August 1998 that unusually large amounts of money were zooming through the bank from Russian sources. Over the next 11 months, with the bank's cooperation, the Feds watched while at least $4.2 billion passed through several accounts, notably belonging to a mysterious British company called Benex Worldwide, then out to a confusing array of other banks and companies...
This was a question that was asked--or perhaps not asked--by hundreds of bankers dealing with Russia in the past decade. Money gushed out of the country for accounts unknown. But it is hard for investigators--to say nothing of politicians--to make a distinction between who was actively helping the Russians rob their economy and who was simply practicing don't-ask banking...
...from the International Monetary Fund. In the mid-'90s Russia's central bank transferred more than a billion dollars of hard currency to an overseas company called FIMACO. After Russia's chief prosecutor leaked word of the suspicious off-shore company, the bank eventually apologized, explaining politely that the money had been hidden to protect precious Russian assets from foreign claims and insisting that no laws had been broken. But Russian Duma Deputies charge that the central bank hid the reserves to lure more cash from the INF. The INF has so far uncovered no evidence of illegal diversion...