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Automatic TRANSCRIPT

Money laundering is the way clever crooks hide individually spend all the money they've stolen in this tale about what's believed to be the biggest money laundering scheme in history. It involves nearly a quarter of a trillion dollars a very suspicious money from Russia and the former Soviet Union that was funneled into the western banking system, right, under the noses of major banks and regulators in the United States in Europe, who either facilitated it or turned a blind eye at the heart of it is a whistle blower, who found one loose thread in decided to pull on it. Howard Wilkinson is an Oxford man, cautious prudent and a bit of a stickler after his cover was blown last fall in a newspaper article is the person who uncovered the scandal he has spent much of his time wandering the British countryside. Trying not to be found. A whistle blower in a case involving two Russian money. It's not a good place to be you're still concerned, you've got to the very nature of the people who want to learn the money, probably means that not the so you want to go down the pub and have a pint with, but he did sit down with us and told his tale about a financial crime. So big it's hard to fathom and number that's reported for the whole thing over the six or seven years is two hundred and thirty million dollars of suspicious, money one Bank one Bank, two hundred and fifty branch branch Wilkinson had worked. There is a mid level executive for dansko back the biggest financial institution in Denmark, and one of the most respectable banks in Europe is head of markets for the Baltics. He worked out of a branch into Lynn Estonia, the former Soviet Republic now a NATO member right next door to the Russian bear. There were Cancian's, but also business. -tunities in Wilkinson, eventually discovered his branches. Biggest business was converting Russian rubles of highly questionable origin in the Chris clean on traceable American dollars customers will be calling every morning fleas. I want to sell twenty million rubles by Dulles. We would quote them the price that they would get the Dulles Doulos. basically, that was that was the last part of what we did. And there was nothing legal about that. Frank supposed to check the money coming in. Is it clean on the Bank supposed to check what does the money go in the end and you're saying it wasn't being done? Evidently, it wasn't being done. That's an example liberty understatement. International money, laundering laws require that banks know their customers and report suspicious transactions to thorns yet suspicious. Transactions would turn out to be the vast majority of the business in the banks non-resident portfolio, which was made up of clients from Russia as her by John and other. Former Soviet states, a lot of this money came into the Bank was out the door the next day, right? The next day or you think it was that slow. The customers would every everyday they would sell rubles dollas in that would be what we'd say we didn't, we didn't see where the money went, so your businesses really execute the traits, basically. The clients absolutely, not, not the clients job Wilkinson was assured was being done by a special committee that carefully screened, all international customers before they were allowed to open an account. He discovered otherwise almost by accident when a colleague asked him to help with some paperwork on one of the banks. Big customers, a British company called Lantana trade L, L P to me being British the face place to look for financial information about companies, the public register public apparently this was rocket science. This is rookie science and I wanted to have to pass it. Wilkinson consulted a British government website known as companies have paid while pound one dollars thirty. The company's financial statements and it was a bit strange because it said that the company was Dolman not Dolman means the company hasn't done a single transaction. He knew that couldn't have been right. Having looked Atlanta's banks tape how much Lantana money was passing through the back up to twenty million day, twenty million a day sometimes not exactly dormant is not to the public documents raised other suspicions, when panacea to be a British company in name, only with the postal address it an unremarkable office building in north London that it shared with at least sixty four other show companies with accounted dansko Bank, Estonia and connections to remote exotic places known for banking secrecy in money laundering. So we've got a UK company with a registered office in north London with an accountant, Estonian, Bank, actually, on by Russians and the, the onus of. From the Seychelles, and the mosh alliance to Wilkinson it screamed money, laundering, he explained what he found the people at the Bank, who handled the Russian accounts and was told that it was a simple paperwork. Screw up that would be fixed. Thirteen months later, he heard that Lantana had been told the take its banking business. Elsewhere, among the concerns was money laundering by a member of the Putin family sanctity, Mr. eagle Putin. Who's I think the cousin of the Russian president that are links to the FSP? The FSBA is, I think the success of KGB's some sort of secret police the people running the company have been associated with several banks going bust in Russia and absecon Tim stance. stances eager Putin, the president's first cousin is been associated with other Russian money laundering schemes, but as always professed his innocence, the Howard, Wilkinson hearing, the Putin name was further confirmation that something was wrong to do that. This needs to go to copay in this need to go to that head office. So I made a whistle blowing reports to full, very senior executives including one of the executive board whistle blogger, Paul about what's happened. What seems to be real concerned that others at the Bank might be involved in a cover-up Wilkinson decided to look into three more of the thanks customers that were registered in Britain up three pounds on, I took they counts for these next three and they will false your four for four full. Is it possible that people just could have missed this? Well, then went sixteen sixteen by looking at twelve so of which fifteen with the same address. So, yeah. Some point is stocks being possible to coincidence, not just with the account. So folks, they counsel basically look the same just change a couple of numbers where they will basically look the same when you started doing all this, what did people say to you at the back, nothing nothing? Exactly nothing. People stop calling around to say, is it true that a high ranking executive at the Bank told you, quote. The spank is not the police, the Bank has no obligation to report false clients accounts to the authorities. So frustrated with the lack of action Wilkinson resigned and took his family back to Britain. It would take nearly five years for dansko Bank to come up with answers after printing from the Scandinavian in European press after reviewing more than six thousand non-resident accounts, it, acknowledged that news conference last fall, that it's tiny Estonian branch was the gateway for what may be the largest money laundering case in history. I'd only scratched the surface, however, huge numbers saying to me back in twenty thirteen back in twenty fourteen unbelievably, I just scratched the surface of actually going on in the pike. Do you have any idea what percentage of that money was dirty? They said the almost all the customers was suspicious so far at least eighteen former dansko Bank employees are facing charges in the case including. Former CEO Thomas Borgen in his chief financial officer, the Bank itself faces four counts of violating the Danish anti money laundering, at Danske Bank itself, admits to a complete breakdown of every single internal control. This isn't one or two mistakes. This is a mistake of their entire system over years of which they profited, immensely, attorney Stephen Cohn, who has been representing whistle blowers for more than thirty years. And is Howard Wilkinson's lawyer says dansko Bank is not the only one that's profited from the scheme. Most of the two hundred thirty billion dollars pass through big, New York banks undetected for years. What does that sheer number two hundred thirty billion dollars? Tell you, we'll first off, it's almost impossible, but your hands around you dealing with major financial institutions, worldwide, who are complicit. When you sit complicit what do you mean? The. Moment. You're doing money laundering, and large amounts of money, billions, hundreds of