4 Bankers Convicted Of Abetting Putin's Money Laundering

Four bankers who worked for Gazprombank were found guilty in Switzerland of failing to exercise due diligence over accounts linked to a prominent friend of Russian President Vladimir Putin, Deutsche Welle reported.

Photo Insert: The court found the Gazprombank bankers guilty of failing to exercise the necessary oversight with regard to the accounts and handed suspended jail sentences that carry with them fines of 741,000 Swiss francs ($809,000).

Judge Sebastian Aeppli said the bankers had ignored multiple red flags.

The court found them guilty of failing to exercise the necessary oversight with regard to the accounts and handed suspended jail sentences that carry with them fines of 741,000 Swiss francs ($809,000), the Associated Press (AP) and Reuters also reported.

The men, who were not identified under Swiss privacy norms, helped Sergey Roldugin deposit millions in discrete bank accounts between 2014 and 2016.

The Swiss government has called Roldugin "Putin's wallet" in the past for his alleged money laundering for the Russian leader. A concert cellist, Roldugin is also the godfather of Putin's eldest daughter.

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