Authorities have suppressed an illegal banking operation in St. Petersburg and the Leningrad Region, detaining multiple individuals and initiating a criminal case. Residents of St. Petersburg and the Leningrad Region are suspected of involvement in the scheme, according to the police press service.

The investigation revealed that the group operated an office in Sverdlov named after him, offering illicit cash-out services beginning in January 2022.

The scheme involved transferring money from non-cash to cash, ostensibly for legitimate business transactions, but in reality, it was an illegal operation. Funds were channeled through accounts controlled by the perpetrators, cashed out through shell companies on false pretenses, and then transferred to clients after deducting a 2.5% commission. The “bankers” allegedly profited 24,508,014 rubles from these illegal transactions.

A criminal case has been initiated under part 2 of article 172 of the Criminal Code of the Russian Federation, which addresses illegal banking activities. During the operation, 11 individuals were detained across St. Petersburg, Leningrad, and Novgorod regions. Searches were conducted at their residences, leading to the seizure of documents, electronic devices, accounting records, and cash.

Regarding preventive measures, the 60-year-old organizer, the 57-year-old “chief accountant,” and another suspect are prohibited from certain actions. A 28-year-old casher was placed under recognizance not to leave, while the remaining individuals have been questioned as witnesses. Law enforcement is continuing to investigate and search for potential additional accomplices.