Texas Business Lawyer

The author of an American anti-racketeering law testified in a Russian court supporting theory that would allow a $22 billion law suit to be filed against the Bank of New York. The suit would be regarding money laundering during the 1990s.

The bank wrongly transferred $7.5 billion from Russia’s accounts. This caused deep problems as Russia was very low on capital when the error occurred. Although the Racketeer Influenced and Corrupt Organizations Act has never been adjudicated by a non-American court, the drafters told the Russian court there is nothing preventing it.

If your business is in need of legal assistance, contact the Austin business lawyers of Slater and Kennon, L.L.P. by dialing 512-472-2431.