The Troika Laundromat is the latest in a long line of scams and scandals

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Like a vast, corruptive beast, money laundering has loomed large over Europe in recent months. Scandal after scandal has ricocheted through the continent’s financial system, embroiling both commercial and private banks, and drawing numerous CEOs into a monstrous series of allegations that will no doubt take years to fully conquer, europeanceo.com reports.

From Danske Bank to Swedbank, Deutsche Bank to ING, it appears no institution is safe from the clutches of an overarching network of financial criminals that shifts funds of questionable origin from place to place to avoid the prying eyes of regulatory authorities.

In March 2019, the Organised Crime and Corruption Reporting Project (OCCRP) claimed to have had unearthed yet another scam: the Troika Laundromat. Orchestrated by a web of oligarchs, politicians and those with links to organised crime, the Troika Laundromat is a money laundering scheme of epic proportions. What’s more, its impact has seemingly extended beyond the financial sphere and into high society.

“Across Europe, there is a whole class of defamation lawyers, public relations experts and social groups through which [these people] can purchase entry into high society, and gain valuable access and influence that then shields them from scrutiny,” explained Casey Kelso, Advocacy Director at Transparency International. The scheme has reportedly created a new cohort of exceedingly wealthy and well-connected individuals, whose very existence is proof that there are very few circles one cannot buy one’s way into – provided the price is right.

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