BNY Mellon Settles Russian RICO Suit For $14M

Law360, New York (September 16, 2009, 3:48 PM EDT) -- The Bank of New York Mellon has reportedly reached a $14 million settlement of a $22.5 billion lawsuit filed by the Russian government related to a decade-old wire transfer scandal.

Alexei Kudrin, the Russian finance minister, revealed Wednesday that Bank of New York Mellon had agreed to a settlement covering the legal costs incurred over the course of the two-year lawsuit, the New York Times reported Wednesday.

Kudrin said the Russian Federal Customs Service, which launched the suit being heard in Moscow Arbitration Court, had “insufficient”...
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