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Police find $122 million at home of Russia anti-graft Czar

Police found a bag in the home of Russia’s anti-corruption chief holding over $122 million in cash that might have come from a closed bank, Russian media reported this weekend.

Dmitry Zakharchenko was arrested after the raid.

His official title is deputy head of the Energy Industry Department of the General Administration of Economic Security and Combating the Corruption.

Police seized $120 million and €2 million ($2.2 million).

There could be more cash stashed in the home, police said.

Zakharchenko “refused to comment on the nature of the money or its origins, only claiming that he is not guilty,” RT said.

Some local reports said the raid occurred at an apartment belonging to Zakharchenko’s sister.

Sources told the TASS news agency the money belonged to Nota-Bank, which had its license revoked in November of 2015.

Nota-Bank was in Russia’s top 100 banks by assets. Regulators reportedly revoked its license as part of an effort to clean up the finance sector.

It’s not clear what role Zakharchenko or his anti-graft agency may have played in ordering the bank’s closure.

Zakharchenko appeared in court Saturday. He was charged with abuse of power, obstruction of justice, and accepting bribes.

The court denied bail and ordered him held in custody for two months.

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He’ll be the keynote speaker at the FCPA Blog NYC Conference 2016.

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2 Comments

  1. I want to see the size of the bag that contained the $122,000,000.

  2. US$100,000,000 is a full pallet load, so they may have found US$120 million in his house, but it was not in "a bag"


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