Criminals Clean 5 Billion Through Illegal Gambling Operations: Bank Managers Held for Questioning at "Aybox Bank"
In the recent fray, a troubling money laundering scheme has come to light, exposed by investigators in collaboration with bank officials. The masterminds behind this caper, in cahoots with some bank shareholders, claim to have employed miscoding as their technique of choice. This strategy was used to set up around 20 controlled companies who opened accounts at the now-defunct Ayboks Bank.
Illegal online casino users deposited ill-gotten gains into these companies' accounts, effectively funding their gaming accounts. To avoid raising suspicion, users listed nonsensical goods and services in the payment purpose field instead of highlighting gambling activities.
High-ranking bank officials, including its co-owner, were made aware of the suspicious activities and faced allegations under articles related to illegal gambling organization and money laundering by the BEB. Three key suspects - Iryna Tsyganok, Aliona Shevtsova, and Vladimir Drobot - are being sought, and plans for their extradition to Ukraine are underway.
Iryna Tsyganok, a detained department director, is currently on an international wanted list after successfully evading Ukrainian authorities. Efforts are being made to bring her back to Ukraine to face charges of organizing illegal gambling and money laundering.
It's important to note that Ayboks Bank, whose shareholders included Vladimir Drobot (73.92%) and Alena Shevtsova (24.98%), had faced scrutiny in the past. The National Bank of Ukraine (NBU) decided to revoke Ayboks Bank's license in March 2023 and liquidate the financial institution.
This elaborate scheme is reported to have laundered approximately UAH 5 billion (over $135 million) by masking gambling transactions as legitimate business payments. The shell companies linked to Ayboks Bank played a crucial role in this operation, accepting deposits under false pretenses.
Key figures in this debacle, including Iryna Tsyganok, Aliona Shevtsova, and Vladimir Drobot, are believed to have orchestrated the scheme. Like in the past with IBOX Bank, allegations suggest that Ayboks Bank's ventures provide a perfect cover for shadow transactions through clever exploitation of technical loopholes.
The battle against such underhand schemes reveals systemic hurdles in monitoring corporate banking activity to combat illicit financial flows.
- Investigators have revealed that Iryna Tsyganok, a key suspect in a money laundering scheme, is currently on an international wanted list for evading Ukrainian authorities.
- The money laundering scheme, uncovered recently, involved illegal online casino users depositing ill-gotten gains into controlled companies' accounts at Ayboks Bank, disguising gambling activities as nonsensical goods and services.
- High-ranking officials at Ayboks Bank, including its co-owner, Alena Shevtsova, face allegations under articles related to illegal gambling organization and money laundering.
- The elaborate scheme allegedly laundered around UAH 5 billion (over $135 million) by masking gambling transactions as legitimate business payments, using shell companies linked to Ayboks Bank.
- The general news and crime-and-justice industries are closely monitoring the events surrounding Ayboks Bank, as vague corporate ventures like this one have been suspected of providing a cover for shadow transactions in the past.
