Germany: German Authorities Conduct Raids in Money Laundering Probe

German authorities raided an import-export company and the home of a businessman in the state of Brandenburg on Tuesday on suspicion he was involved in a scheme to launder millions of euros (dollars) for Russian criminals, prosecutors said.

The suspect is accused of receiving some 7 million euros ($8.3 million) in illegally obtained money, laundering it in Germany and then transferring it to offshore accounts for “individuals from Russia,” the Frankfurt prosecutors office said.

The suspect, whose name wasn’t released, is alleged to have been part of the so-called “Troika Laundromat” – a money laundering network linked to the former Russian investment bank Troika Dialog, which is said to have maintained a network of offshore companies with accounts in Baltic banks, prosecutors said in a press release.

The original full article can be found at usnews.com

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