The Moscow Times - 10/15/12
Master Bank is the 69th-largest bank in Russia by assets and counts the cousin of President Vladimir Putin, Igor Putin, among its directors. Sergei Porter / Vedomosti
The Central Bank could revoke Master Bank's operating license amid an ongoing investigation into a huge money-laundering scheme, the Interior Ministry announced.
Several senior executives have been arrested, and the former vice president for corporate banking, Yevgeny Rogachev, was arrested Friday for violating the conditions of his house arrest. Rogachev is suspected of illegally turning 2 billion rubles ($64 million) into cash.
To read the rest of this story, visit TheMoscowTimes.com.
