Fresh on the heels of an investigation by the FBI in which St Vincent was implicated, the country’s name has again surfaced, this time in what is known as the “Russian Laundromat”.
The massive scheme involved $20 billion to $80 billion laundered out of Russia from 2010 to 2014 through banks around the world in 96 countries, including St Vincent.
In case of SVG, they revealed that two companies had deposited US $127 907 or EC $341 512.
$100 000 for one company and $27 907, for the other, in banks in St Vincent, believed to be associated with the scheme.
The scheme was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP), a consortium of investigative journalists in Europe, in 2014, but it was only this year that the group was able to obtain bank records detailing the transactions.
There were 96 countries listed were some of the tainted money reportedly ended up.
Other Caribbean countries reported in the scheme are Barbados, Britsh Virgin Islands, and the Cayman Islands.