“De Groote, previously an administrator at the International Monetary Fund, was accused of providing a veneer of credibility, with the cash purportedly coming from investors. ATS reported that he received almost one million Swiss francs for his role in the scam. The five Czechs, including former board members, had managed to gain control of 97 percent of the company. They went on to launder more than a billion Swiss francs. The money was stashed in bank accounts in Switzerland and neighbouring Liechtenstein, in the name of more than 30 firms based in the Bahamas, the Isle of Man and other offshore havens.”
http://www.thelocal.ch/20131011/swiss-court-convicts-six-over-czech-money-laundering-scheme
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