Troika Laundromat reveals Russian bank’s $8.8b offshore scheme

Politicians, criminals and members of the Russian elite, including President Vladimir Putin’s friend Sergey Roldugin, funneled billions of dollars through a hidden banking network, according to an investigation by the Organized Crime and Corruption Reporting Project (OCCRP).

OCCRP and Lithuanian news website, partners of the International Consortium of Investigative Journalists, say they obtained 1.3 million banking records, and other documents, to reveal the $8.8 billion scheme.

Dubbed the Troika Laundromat, the investigation is named after the Russian private investment bank Troika Dialog that allegedly created and operated the scheme.