Putin oligarchs stashed billions in U.S. banks, secret records show

Time and again, some of the largest and most recognized financial institutions opened their doors to a cadre of Russia’s oligarchs — now the targets of sweeping sanctions in the wake of Mr. Putin’s invasion of Ukraine — while they transferred their money in a relentless flow of dollars.

A Pittsburgh Post-Gazette investigation, bolstered by thousands of secret government records, found that banks kept moving billions for the oligarchs and their companies at the same time they were filing reports with the U.S. Treasury after they found the hallmarks of financial crimes like money laundering.

Known as suspicious activity reports, the records — which are never disclosed to the public — are part of a Post-Gazette investigation into money laundering that began with revelations about millions of dirty dollars in the U.S. steel industry.