Switzerland Charges Four Bankers With Helping Vladimir Putin Hide His Wealth

Swiss prosecutors have charged four bankers with helping to hide Russian President Vladimir Putin's wealth in the country. According to a Reuters report, the bankers who worked at Gazprombank (GZPRI.MM) will stand trial in Zurich next week. The men will appear at Zurich District Court on March 8 accused of lacking diligence in financial transactions.

According to an indictment seen by Reuters, the men are accused of having "failed to exercise due diligence to ascertain the identity of the beneficial owner", of the funds. According to reports by Swiss media, the amount involved in the case was around 50 million Swiss francs ($50 million).

The bankers did not carry out any checks to see if Mr Roldugin, a cellist and conductor, was the beneficial owner of the assets, it added. "At the time of the opening of the account it was reported ... that Sergey Roldugin was a close friend of the Russian President Vladimir Putin and godfather of his daughter," the indictment said.

Source: NDTV