News

A Russian businessman who died in mysterious circumstances in southern England five years ago after allegedly helping launder the proceeds of a suspected $230 million tax fraud in Russia was onboarded as a client by a Swiss private bank following extensive background checks. EFG Private Bank, the U.K. subsidiary of Zurich-based EFG International, opened accounts for Russian financier Alexander Perepilichnyy, 44, in 2010, and approved a Â?1 million loan for his wife after an enhanced due-diligence review by a third-party contractor failed to unearth his alleged ties to a Russian organized crime syndicate, an inquest heard. EFG took Perepilichnyy on...