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We had a guy in Usti nad labem coming to Raiffeisenbank every few weeks and deposing money, approximately 4b usd in total. The bank was supposed to run due dili
by _visgean 3y ago
We had a guy in Usti nad labem coming to Raiffeisenbank every few weeks and deposing money, approximately 4b usd in total. The bank was supposed to run due diligence but its Raiffeisenbank which does not seem to give a shit. I can sort of understand trying to limit cash when you see that the due diligence is mostly omitted.
https://www.irozhlas.cz/zpravy-domov/smenarny-prani-spinavych-penez-rusko-libor-ondracek-usti-nad-labem_2107130600_ace https://www.irozhlas.cz/zpravy-domov/smenarny-prani-spinavyc...
- dmurray 3y ago4 billion dollars! Supposing he carried a large army rucksack each time, full with 25kg of US $100 bills. That would be 2.5 million dollars a time, and it would still take him 1600 trips. If he came "every few weeks" at 20 times a year, it would take him 80 years. A billion dollars really is a lot of money. Perhaps he brought the money by wheelbarrow or car or container truck, or he dealt exclusively in €500 notes, so I suppose it's not completely unbelievable.
- junofan 3y agoI would imagine one would invest in a van that could carry pallets.
- dr_win 3y agoAccording to the article it took him 15 years. Had been frequently visiting a single bank in Prague center (Raiffeisenbank) only with a briefcase exchanging EUR into USD in cash. Doing each time 2+2 hour round trip by train from his home town Usti nad Labem (sometimes carring up to 5M USD) .
- _visgean 3y agohe was mostly using euros per the article. Also the article mentions he mostly traveled by train... The article mentions he usually took the money back in dolars.