https://bnnbreaking.com/breaking-news/crime/bnp-paribas-under-investigation-for-alleged-money-laundering/

The French banking giant, BNP Paribas, finds itself under the judicial microscope, following the initiation of a preliminary investigation into allegations of aggravated money laundering. The investigation, led by the French justice, implicates BNP Paribas Securities Services in connection with TCR International Limited, a Cypriot-registered investment consulting and fund management firm.

Transit of Suspicious Financial Flows

Between 2019 and 2021, TCR International Limited witnessed a huge volume of suspicious financial transactions passing through its hands, amounts exceeding €220 million. These transactions have raised eyebrows, resulting in an intricate, multi-national search for answers concerning the origin and destination of these funds, which are suspected to be of dubious origin or lacking any explicit economic rationale.

US Federal Justice’s Involvement

Parallelly, the US federal justice is also looking into these transactions as part of an investigation into the financial channels used by the Wagner Group and its former leader, Evgueni Prigojine, who passed away in August. The investigators are on the hunt to identify the financial intermediaries involved in these transactions, which have been further complicated by the potential use of shell companies.

BNP Paribas’ Services to the Cypriot Firm

What makes this investigation particularly interesting is that BNP Paribas Securities Services has been providing securities custody services to this Cypriot entity, thereby drawing the attention of both French and American justice. It is these services that have led to the current investigation, as the French and American authorities work tirelessly to unravel the complex web of questionable financial transactions.