PORTLAND, Oregon — A Russian immigrant has been indicted on charges of illegally using shell corporations to move $172 million to 50 countries.
U.S. prosecutors said Wednesday that Victor Kaganov was indicted on a charge of operating an unlicensed money-transmitting business that made more than 4,200 wire transactions.
Kaganov is accused of establishing multiple shell corporations in Oregon on behalf of Russian clients, most of them outside the United States.
U.S. Attorney Dwight Holton said transactions like the ones alleged in the indictment could hide millions of dollars overseas and threaten the integrity of the U.S. financial system.
(AP)
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