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Bank of New York Russian Money Laundering Case Set to Begin Monday
By Brian Orsak
printThe Russian Customs Service is set to open its case in a $22.5 billion money laundering-related lawsuit against the Bank of New York on Monday after a hearing was delayed this week, a bank spokesman said. The government agency, which filed the suit in May, is seeking damages allegedly stemming from money laundering at the bank in the late 1990s, when a bank employee and her husband funneled more than $7 billion from Russia through the institution. Russia says it was never compensated for unpaid taxes that would have been paid on the funds and, citing U.S. laws, is seeking...
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