By the fall of 2013, Yugra Bank (or “Jugra”; “Ugra”) was the 106th largest bank in Russia, with just eight branch locations in the country. A small bank by any measure, Yugra Bank was akin to “Bank of Hope” in the United States in terms of assets.
But interviews with those familiar with Yugra Bank and its evasive oligarch owner, as well as exclusively obtained documents, shed light on how this small regional bank in Russia was able to quietly transfer nearly one-third of a billion dollars into a Deutsche Bank subsidiary on Wall Street in New York.
The principals of the bank, mainly majority shareholder Alexey Khotin, are now accused of embezzling millions by Russian authorities after a falling-out with his political connections.
Khotin and others in his inner circle are said to have had close ties to the intelligence services of Russia, with multiple sources confirming that he paid senior Russian intelligence officials and had the protection and backing of former spy chief Nikolai Patrushev.
The remarkable episode is just one example of how dark Russian money connected to the upper-echelon of Putin’s siloviki – former Russian military and intelligence officials – flowed into the Deutsche Bank division that lent Donald Trump hundreds of millions of dollars. (more...)
Russian Intelligence Connected Bank Deposited $330 Million Into Deutsche Bank America
Related:
Russian Government Bank Deposited $500 Million into Deutsche Bank Subsidiary as it Lent to Trump
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