A story in the Financial Times reported that a major bank went to great lengths to ensure they were not tied to Russian Oligarchs.
Reportedly Credit Suisse asked investors to destroy paperwork that led to a paper trail to yacht loans.
“Destroy and permanently erase” were the instructions regarding yachts, private jets, financial assets, and real estate.
Some data leaked in February showed Credit Suisse managed hundreds of millions of dollars with criminals and human rights abusers. The letter was allegedly sent to investors the week that sanctions were issued to Russia for invading Ukraine.
The United States has cut off Russia’s government from Western financing and put in place “full blocking sanctions” on a couple of Russian financial institutions, including VEB and Promsvyazbank, which is Russia’s military bank.
Both American and European government officials have publicly stated they have targeted rich Russian oligarchs who are part of Vladimir Putin’s inner circle, with the intent to seize their expensive toys and freeze their assets.
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