Lucy Edwards, former vice president of the Bank of New York, and her husband Peter Berlin were accused of the biggest money laundering cases. The couple was admitted to the U.S. District of Manhattan after about 18 months of investigation. Husband and wife Lucy Edwards and Peter Berlin admitted to judges that they helped a group of small but politically connected Russian banks create a complex money laundering scheme that moved billions of dollars out of Russia through through the American bank. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay It was said that from 1996 to 1999, more than $7 billion left Russia illegally and passed through a network of shell company accounts that were created and controlled by Lucy Edwards and Peter Berlin at the Bank of New York. From there, the money was transferred to offshore accounts. The network was designed to facilitate the transit of more than 160,000 electronic transactions between Russia and the United States. There are several reasons why they designed this network, which is to evade Russian taxes on money from legitimate business transactions, to avoid Russian tariffs on imports, and to "wash" the profits of purely criminal enterprises through legitimate banks. Mr. and Mrs. Berlin were paid nearly $2 million for their services in conducting illegal banking activities in the United States. Ms. Edwards knows that the activities they were carrying out are illegal and she also mentioned that many account holders were using the account for illegal purposes. After the investigation, the couple was sentenced to 10 years in prison and heavy fines for a series of federal crimes. However, the Bank of New York was not accused of any wrongdoing, but Ms. Edwards was fired after the federal money laundering investigation. However, still decide to investigate and decide whether to take criminal action against a bank when an agent breaks the law. After several court hearings, Ms. Edwards, Mr. Berlin and three companies controlled by Mr. Berlin, namely Benex, Bec International and Lowland were found guilty of a few cases, including money laundering to promote criminal activities and defraud the Russian government, conducting banking operations without a license, establishing an unauthorized branch of a foreign bank, operating an illegal money transfer business, irregular payment to a bank employee. , receiving illegal payments as a bank employee and laundering payments abroad, tax evasion and fraudulently helping hundreds of Russians obtain fake visas to travel to the United States, most of whom work in the banking sector Russian. In addition to the above-mentioned cases, Ms Edwards is also under investigation for corruption relating to her superiors in the bank's Eastern Europe division. They pay Svetlana Kudryavtse $500 a month to make sure the Benex accounts work properly. Edwards explained in court regarding the accused money laundering and other schemes, she said she was first approached by a representative of Russia's Depozitarno-Kliringovy Bank who wanted to use the offices and Bank of New York technology to illegally transfer money from Russia. Apart from this, Mr. Berlin opened an account in the name of companies like Benex, Bees and Lowland and supervised the account in Moscow. The wife, Mrs Edwards, helped install computer software for the Benex office to enable them to.