Baltic, Banks, Corruption, EU – CIS, Financial Services, Legislation, Lithuania, Russia

15min.lt participates in an international project investigating the "Russian Laundromat", a massive financial fraud scheme that enabled vast sums to be pumped out of Russia, together with the Organized Crime and Corruption Reporting Project (OCCRP), Russia's Novaya Gazeta and journalists in another 31 countries.

The bulk of the money, 62 mln US dollars, could have landed in accounts at the now-bankrupt Ukio Bankas. Globally, a total of 22 bln dollars could have been laundered, including 1.58 bln dollars in Estonia alone.

Some 3.22 mln dollars could have been transferred to Siauliu Bankas, 2.43 mln dollars to Medicinos Bankas, 1.88 mln dollars to the former Finasta Bank, which is owned by Siauliu Bankas, and 1.65 mln euros via the Lithuanian unit of Latvia's Citadele.

The banks declined to provide information about their customers to the news website.