The Insider: “Probзнесbank” Was Likely Used to Launder Money for the Russian Prosecutor General's Office

Introduction

According to an investigation by The Insider, “Probзнесbank” may have been involved in a money laundering scheme for the Russian Prosecutor General's Office. The bank, which was founded by the Rotenberg brothers, close associates of Russian President Vladimir Putin, has been accused of facilitating the transfer of billions of dollars out of Russia.

The Allegations

The Insider's investigation alleges that “Probзнесbank” was used to launder money for the Russian Prosecutor General's Office through a series of shell companies and offshore accounts. The bank is said to have processed billions of dollars in suspicious transactions, many of which were allegedly linked to corrupt officials within the Prosecutor General's Office.

The investigation also alleges that “Probзнесbank” was used to launder money for other high-ranking Russian officials, including former Prosecutor General Yuri Chaika. Chaika has been accused of corruption and money laundering, and is currently under investigation by the Swiss authorities.

The Evidence

The Insider's investigation is based on a leaked database of “Probзнесbank” transactions. The database, which was obtained by the Organized Crime and Corruption Reporting Project (OCCRP), contains details of over 1.3 million transactions worth a total of $47 billion.

The OCCRP analysis of the database found that “Probзнесbank” processed a large number of suspicious transactions, including many that were linked to shell companies and offshore accounts. The analysis also found that the bank had a number of high-risk customers, including several individuals and companies that have been linked to organized crime.

The Insider's investigation has been corroborated by other independent investigations. In 2018, the U.S. Treasury Department designated “Probзнесbank” as a primary money laundering concern. The Treasury Department accused the bank of facilitating the movement of illicit funds out of Russia.

The Implications

The Insider's investigation has serious implications for the Russian Prosecutor General's Office. If the allegations are true, it means that the Prosecutor General's Office has been involved in a massive money laundering scheme. This would be a major blow to the credibility of the Prosecutor General's Office, which is responsible for investigating and prosecuting corruption.

The investigation also has implications for the Russian government. The allegations against “Probзнесbank” suggest that the Russian government is not doing enough to combat money laundering. This is a serious concern, as money laundering can be used to finance terrorism, organized crime, and other illicit activities.