The Troika Laundromat


Laundromats are complex systems for moving money that allow corrupt politicians, organized crime figures, and wealthy businessmen to secretly invest their ill-gotten millions, launder money, evade taxes, and fulfill other goals.

OCCRP has previously exposed three such schemes: The Proxy Platform, the Russian Laundromat, and the Azerbaijani Laundromat.

Now, OCCRP and its reporting partners reveal a unique new Laundromat, created by a prestigious financial institution. This time, the work shows not only its beneficiaries but also exposes its mastermind and operator — Troika Dialog, once Russia’s largest private investment bank.

The scheme was discovered in a large set of banking transactions and other documents obtained by OCCRP and the Lithuanian news site 15min.lt. The data, which was compiled from multiple sources, represents one of the largest releases of banking information ever, involving more than $470 billion sent in 1.3 million leaked transactions from 233,000 companies.

The main purpose of the system we’ve named the Troika Laundromat was to channel billions of dollars out of Russia. But it was much more than a money laundering system: The Laundromat allowed Russian oligarchs and politicians to secretly acquire shares in state-owned companies, to buy real estate both in Russia and abroad, to purchase luxury yachts, to hire music superstars for private parties, to pay medical bills, and much more.

To protect themselves, the wealthy people behind this system used the identities of poor people as unwitting signatories in the secretive offshore companies that ran the system.

Read on below for the details.

Stories

Videos

Partner Stories

How does the Troika Dialog empire work? An OCCRP investigation.

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It’s not just about a small Lithuanian bank that got involved in shady businesses--the UkioLeaks reveal relations with Raiffeisen Bank International, which acted as Ukio’s correspondent bank. And a considerable number of Caribbean offshore companies had their own accounts at Raiffeisen.

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Erich Rebasso, a Viennese lawyer killed in 2012, was part of a Russian money laundering scheme. As a trustee for Russian clients, he funnelled at least $100 million originating from obscure sources to offshore entities holding bank accounts at Ukio Bankas in Lithuania.

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In 2007 the Prince of Wales personally intervened in a last-minute bid to stop the sale of Dumfries House, a stately Ayrshire home with a precious collection of Chippendale furniture.

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An investment bank led by an oligarch who collaborated with Prince Charles on charity work managed a network of offshore companies moving billions out of Russia.

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Ruben Vardanyan, whose bank channelled $4.6 billion to the West, helped fund the restoration of Dumfries House.

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An exclusive investigation reveals how Troika Dialog channelled $4.6 billion to Europe and the US.

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The family of Artyakov, number two in Russia's largest public defense technology company, acquired property in S'Agaró with money from tax havens.

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More than 6 billion euros was spun through a massive network of companies and accounts that facilitated the laundering of money tainted with fraud, corruption, and even blood. That network operated through Ukio Bank.

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A video laying out how the Troika Laundromat operated.

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Tens of millions to one of Vladimir Putin's closest friends. A mansion in Spain built from money borrowed from a pensioner from Moscow. Luxury yachts from an elite shipyard. These are just a few of the stories from the Ukio Bank leaks.

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The Organized Crime and Corruption Reporting Project (OCCRP) is a global network of investigative journalists.