Mogilevich’s Inkombank collapses after years of money laundering

The Trump Timeline

Sources linked at end of page.

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Inkombank, which Mogilevich took over in 1994, has its license revoked by the Russian Central Bank. Inkombank’s failure is at first attributed to poor management decisions during the Russian financial crisis, but it is later tied to possibly the largest money laundering scheme in Russian history at the time.

In May 2001, a member of Inkombank testified in Moscow that Inkombank management secretly removed around $1 billion from the bank’s assets.

Inkombank was the largest commercial partnership of the Bank of New York, and management of both banks frequently traveled between New York City and Moscow.

Sources

https://web.archive.org/web/20070701095350/http://russianlaw.org/Morgent1.htm

http://moscowtelegraph.com/mt050801.htm

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