A gang of fraudsters was revealed in Nizhny Novgorod. Members of the gang are suspected in money laundering and illegal cash out and transportation of huge amounts of money. As police reports during the period 2004-2006 they managed to transfer from Nizhny Novgorod region to other places and countries more than $20 billion roubles (around $1 billion).
Investigators claim that members of these group accumulated large amounts of money on bank accounts of companies incorporated in Nizhny Novgorod or in offshore territories. After that they cashed out the money and transported them to Moscow or Saint-Petersburg in big sport bags. They used a simple scheme of money laundering and tax non-payment.
Police arrested one of the members of the gang while he was transporting 25 million roubles ($1 million) in his car. Prosecutors claim that the activities of the gang is worth of 3 billion roubles of unpayed taxes ($400 million).
It has been investigated that there were 5 active members of the gang, two were leaders and three others were regular members. The group leaders had a degree in economics and for a long time worked in banking business. Regular members had no education or legal job.
During the investigation police managed to arrest only regular members of the gang, the leaders managed to escape, and now are subject of the federal search.