He’s much more than a businessman!
Kaveladze was in 2000 named by the New York Times as responsible for using about 2,000 shell companies in the US to launder $1.4bn from Russia and eastern Europe into accounts at Citibank and the Commercial Bank of San Francisco.
A report by the US Government Accountability Office (GAO) on the alleged scheme did not identify Kaveladze by name but confirmed the involvement of his company, International Business Creations. “It is possible that these transfers were used to launder money,” the report said of the transactions.
