Russia denies money laundering charges
Updated 12:24 PM ET September 20, 1999
MOSCOW, Sept. 20 (UPI) On the eve of U.S. congressional hearings on allegations of money laundering by Russians of billions of dollars through U.S. banks, Russian Prime Minister Vladimir Putin insisted there is no evidence to back up charges of Russian involvement in the laundering operation. "Media reports of Russian money laundering have not been confirmed," Putin told reporters today after briefing President Boris Yeltsin on the continuing international investigation. Putin said a team of senior Russian experts, dispatched to the United States last week to cooperate with the U.S. investigators leading the laundering probe, had not been handed any conclusive evidence proving Russian involvement in money laundering activities. U.S. and European newspapers have reported allegations that between $4.5 billion and $15 billion, including money diverted from International Monetary Fund loans to Russia, had been laundered through the Bank of New York and other financial institutions. Russia and the IMF have repeatedly denied IMF loans were misused or diverted, and some Russian officials and businessmen say the funds involved in the Bank of New York transfers may have originated from import-export operations by Russian and foreign businesses seeking to conceal the true value of goods for tax purposes. However, Viktor Ivanov, the deputy chief of Russia's Federal Security Service (FSB), told Interfax news agency today that U.S. investigators had shown the visiting Russian team documents linking Russian companies and banks with the Bank of New York account. Ivanov said Russia has offered to coordinate with U.S. law enforcement agencies in the investigation, adding that an FBI team taking part in the probe will visit Moscow. Ivanov confirmed Putin's statement that no proof of links between the money laundering and IMF loans or senior Russian officials had been discovered, but said Russian companies may have been involved in a laundering operation. In Washington, the House of Representatives' Banking Committee is to open hearings on Tuesday regarding the money laundering allegations, inviting top officials from the Clinton administration, such as Treasury Secretary Larry Summers, and Russian legislators and other officials as witnesses in what could become the most significant money laundering probe ever.
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Summers is giving his prepared text currently, grilling(over a high heat) about IMF to follow on CSPAN 1. |
