Russian accused of record $US 3 BLN fraud

22 Apr, 2008 06:09 / Updated 16 years ago

The responsibility of Russia’s Central Bank function to protect and stabilise the country’s rouble was infringed by a massive money laundering scheme, according to investigators. Boris Sokalsky, who was reportedly a banker, is accused of laundering more t

Investigators accuse Sokalsky of being the actual owner of Moscow banks NEP (New Economic Position) and Rodnik, which had been cashing money illegally. He was arrested in March, 2007. Police have finished an investigation into the case and, according to the Kommersant newspaper, Sokalsky is expected to be officially charged this week.