Q&A: what is the ‘Troika Laundromat’ and how did it work?
Billions of dollars moved from Russia to the west, mixing legitimate wealth with apparently fraudulent funds
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Essentially, it’s the name given to a collection of 70 offshore shell companies whose controllers used them to move billions of dollars of private wealth from Russia to the west. It was operated by staff at an independent arm of the Russian investment bank Troika Dialog, which has now been merged with one of Russia’s two big state-owned banks. Most of the money belonged to its clients, families whose wealth it helped manage.