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Laundering Not Confirmed

ZURICH — An audit of Zurich-based Hyposwiss Private Bank found no evidence of money laundering, following allegations by Oleg Deripaska against Hans Bodmer, a Swiss lawyer who resigned from the bank's board last month, St. Galler Kantonal Bank, which owns Hyposwiss, said Tuesday.

Hyposwiss asked Pricewaterhouse-Coopers to examine its books after Deripaska filed a legal complaint in Switzerland saying Bodmer helped loot Norilsk Nickel. The auditor "confirmed that the bank had not violated criminal money-laundering provisions," according to a statement.

According to the complaint, Bodmer did work in 2010 for Vladimir Potanin and his Interros Holding, which holds about 30 percent of Norilsk.

(Bloomberg)

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