News

A U.K. court jailed a former senior development banker Tuesday after he and his sister attempted to launder $3.5 million in kickbacks from fraudulent loan deals through accounts at four lenders without explaining their source of funds. Andrey Ryjenko, who reviewed loan applications for energy projects in Europe for the European Bank for Reconstruction and Development, or EBRD, was sentenced to six years in prison for corruption and money laundering after secretly telling potential clients they stood a better chance of securing financing by seeking advice from U.S.-based Chestnut Consulting, which was run by his associate, Dmitrij Harder. Ryjenko and...