Inkombank chief says US officials bribed
New York--Nov 5--A former head
of Russia's now-insolvent Inkombank told a confidante last summer that the bank routinely
paid bribes to US official in Washington and used a mesh of offshore accounts to cover the
tracks. The confidante, who asked to be referred to by his first name Mikhail, said US
officials were not mentioned by name or agency.
***
Mikhail, who is in New York
this week on business, in addition to allowing MI to review a copy of the transcript of
the conversation, said the Inkombank principal often boasted of having such officials on
the take from the bank. A transcript of the conversation between Mikhail and the Inkombank
official, who was also primary signatory on Inkombank's correspondent account at Bank of
New York, made the payments appear a natural part of business.
"Whatever is
needed...people received. Received bribes," the Inkombank official told Mikhail in
July 1998. He continued, "The main thing that I've come to realize is that these
people are willing to take money. They want to receive money and they to receive more -
the more you give them the longer they'll work."
During that conversation,
Mikhail, who never worked at the bank, but held close relationship with the Inkombank
official, was told that money would be networked though Inkombank's offshore shell
companies so there would be no traces. "It's impossible to find anything because
there, there are no traces," the Inkombank official said.
New York State banking
regulators were warned more than year ago of the scheme to use offshore companies to pay
such bribes to US officials, according to a report today in The Times of London. The
article specifically said these payments went through Whalesdon Financial Company, which
was an offshore company in the British Islands.
New York State Banking
Department spokesman said the department policy prohibits comments on investigations that
may or may not be taking place.
Inkombank is currently under
investigation as part of an international Russia money laundering probe that thus far has
concentrated on how the Bank of New York may have been used in the alleged scheme.
Inkombank depositors last
month sued the Bank of New York alleging that Inkombank's collapse was due in large part
to a "systematic looting of bank assets by Inkombank's principals" and was aided
by Bank of New York. The lawsuit, which was filed in Manhattan federal court, also claims
that Bank of New York gave Inkombank "unrestricted access to the Western banking
system, thereby knowingly facilitated money-laundering, multibillion-dollar conversion of
assets and capital flight." End |
