- Four bankers in Switzerland are on trial for allegedly breaking Swiss anti-money-laundering law by opening bank accounts for a concert cellist close to Vladimir Putin's inner circle.
- The bankers face potential seven-month suspended sentences and two years of probation.
- The trial is seen as a test of Switzerland's will to keep out illicit money, after stepping up anti-money-laundering efforts in recent years.
- The cellist, Sergei Roldugin, is godfather to Mr. Putin's eldest daughter and is described in a US sanctions notice as part of a system managing the Russian president's offshore wealth.
- Gazprombank Switzerland closed the accounts connected to Mr. Roldugin in September 2016.
WSJ — Markets — Financial Sanctions — Monetary Policy — Legal — Russia
Trial Targets Bankers Who Moved Money for Putin’s Cellist Friend
A trial of four bankers in Switzerland offers insight into how members of Russian President Vladimir Putin's inner circle used Swiss bank accounts to sidestep US sanctions. The trial is seen as a test of Switzerland's will to keep out illicit money.