-Caveat Lector- http://cnn.com/cnnfn/1999/08/19/worldbiz/crime/ BoNY used in global money-laundering scheme. NY Times reports as much as $10b in Russian mafia funds passed through bank August 19, 1999: 12:47 a.m. ET NEW YORK (CNNfn) - The Bank of New York has been used by members of a Russian organized-crime gang to launder as much as $10 billion since early last year, according to the New York Times. The bank is cooperating in an investigation, and two employees were suspended Wednesday, according to the newspaper. Both employees work in the bank's Eastern European division and are married to Russian businessmen. "There are no allegations of wrongdoing by the bank," the bank said in a statement. The investigation, which is being run by the office of the U.S. attorney for the Southern District of New York, apparently focuses on the use of the bank as conduit for funds from Russia into other countries. The accounts under investigation, according to the newspaper, are linked to a man whom investigators say runs a veritable one-stop shopping center of crime. Semyon Yukovich Mogilevich is engaged in arms trafficking, extortion and prostitution, according to law enforcement and intelligence sources. The newspaper described him as "smart, ruthless and vastly wealthy." Money laundering refers to the practice of moving illegally gained funds in and out of a series of accounts - eventually hiding the money's origins. DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance—not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html http:[EMAIL PROTECTED]/ ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
