Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Putin's Cellist Friend "Moved Millions" Through Swiss Banks: Lawyers

Putin's Cellist Friend "Moved Millions" Through Swiss Banks: Lawyers

The musician himself told the New York Times that he was certainly not a businessman and did not himself own millions, according to the indictment.
A concert cellist linked to Vladimir Putin moved millions through Swiss bank accounts without any proper checks, prosecutors will allege on Wednesday, in a case that highlights the murky financial dealings of Russia's ruling elite.

Four bankers are accused of helping Sergey Roldugin, a close friend of the Russian president according to the indictment, deposit millions of Swiss francs in Switzerland.

They are due to appear at Zurich District Court on Wednesday accused of lacking diligence in financial transactions.

Prosecutors allege they failed to do enough to determine the identity of the beneficial owner of the funds, according to the indictment seen by Reuters.

The bankers - three Russians who worked in Zurich and one Swiss - will deny the allegations against them, one of their lawyers said. They cannot be named under Swiss reporting restrictions.

Roldugin was named the owner of two accounts opened at Gazprombank Switzerland [GZPRI.MM] in 2014, into which flowed millions of francs from Russia.

This was despite Roldugin - who appears on the Swiss list of sanctioned Russians - having no listed activity as a businessman.

The musician himself told the New York Times that he was certainly not a businessman and did not himself own millions, according to the indictment. Reuters has approached his representatives for comment.

The case highlights how people like Roldugin were used as "strawmen" - a way to the hide true owners of the money, the indictment said.

There is little trace of Putin's assets.

"It is well known that Russian President Putin officially only has an income of 100,000 Swiss francs, and is not wealthy, but in fact has enormous assets which are managed by persons close to him," the indictment said.

Reuters has asked the Kremlin for comment on Putin's relationship with Roldugin and about his own wealth and assets.

Putin has in the past said that Roldugin is a friend, a brilliant musician and benefactor who has honestly earned some money from a minority stake in a Russian company.

The Kremlin has previously dismissed any suggestion that Roldugin's funds are linked to the Russian leader as anti-Russian "Putinophobia". Putin's finances are a matter of public record, says the Kremlin, saying he has regularly declared his assets and salary to Russian voters.

GODFATHER

The bankers in the case did not carry out sufficient checks to see if Roldugin was the true owner of the assets in question, the indictment said.

"At the time of the opening of the account it was reported in various articles.... that Sergey Roldugin was a close friend of the Russian President Vladimir Putin and godfather of his daughter," the indictment said.

Other red flags were ignored, and the defendants did not attempt to clarify the plausibility of Roldugin being the real owner of the assets, or the money's origin, the indictment said.

In the bank's documents, only Roldugin's professional activity as a musician was listed, making his ownership and involvement "in no way plausible", the court documents said.

In Switzerland, banks are obliged to reject or terminate business relationships if there are doubts about the identity of the contracting party.

Both accounts were closed in September 2016.

Roldugin has already been targeted by U.S. sanctions following Russia's invasion of Ukraine. The U.S. Treasury Department has described him as part of a system that manages Putin's offshore wealth.

He has also been sanctioned in Switzerland, whose government referred to him as "Putin's wallet" in its list of blocked people.

The prosecutor is seeking suspended sentences of seven months for each of the bankers. The trial is expected to last one day.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×