Russia’s Investtradebank raided by police over ‘illegal banking’
By Andrei Skvarsky.
Investtradebank, a mid-sized Russian lender also known by its Russian name Investtorgbank, had its headquarters and some of its branches in Moscow searched by police on Wednesday in one in a series of raids as part of alleged action to prevent illegal banking.
Business daily Vedomosti cited a spokesman for Investtradebank, which provides an extensive range of services including corporate and private banking and investment, as saying the police had seized documents relating to some of the clients.
The chief police spokesman for the Central Federal District, Lieutenant-Colonel Roman Mikhailov, told EmergingMarkets.me that Investtradebank was not the only firm to have been raided on Wednesday, and that altogether 12 addresses, both homes and offices, were searched.
He declined to name the other firms.
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