today’s ” AR-online” again ** see you in Cincinnati!AR-Online recent issues: August 1999 July 1999 June 1999 May 1999 April 1999 March 1999 February 1999 January 1999 December 1998 November 1998 October 1998 September 1998 August 1998 July 1998 Alphabetical index (text) WE REPRODUCE with acknowledgements (see below) this article ETC N.Y. Bank Said in Laundering Scheme NEW YORK (AP) – As much as $10 billi
on may have been laundered through the Bank of New York in the past year in what investigators say is an operation run by Russian organized crime, The New York Times reported Thursday. Some .2 billion passed through a single account between October and March, the newspaper reported, citing unidentified investigators.
The bank has suspended two senior officers in its Eastern European division – Natasha Gurfinkel Kagalovsky of New York and Lucy Edwards of London – pending the outcome of the investigation. Ms. Kagalovsky declined comment. An aide to Ms. Edwards said she was traveling. Investigators here and abroad have examined whether front companies are raising money in North America for organized crime activities in Russia.
The accounts under scrutiny at the Bank of New York have been linked to Semyon Yukovich Mogilevich , who is believed to be a major figure in Russian organized crime, the Times said. In a statement, the bank said it was cooperating with investigators and said no customer or bank funds had been lost. “There are no allegations of wrongdoing by the bank,” the statement said. The Bank of New York, with assets of $67 billion, is the nation’s 17th largest.
Our opinion This kind of reporting confirms our faith in the integrity of the reporting of The New York Times. Semyon Yukovich Mogilevich was identified as a “Russian” by Matt Drudge . We wonder about the affiliations of the NYC banker who, allegedly, helped launder and process his $10 billion US dollars, Natasha Gurfinkel Kagalovsky . The above news item is reproduced without editing other than typographical Register your name and address to go on the Mailing List to receive [ Go