Russia’s Timchenko Said to Be Probed For Money Laundering
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Gennady Timchenko, a Russian electrical engineer who became an oil-trading billionaire and confidant of President Vladimir Putin, is the focus of a money laundering probe by U.S. prosecutors, two people familiar with the matter said.
Timchenko, 61, who worked for a state oil exporter in the last years of the Soviet Union, helped build Gunvor Group Ltd. into one of the world’s largest oil traders in the late 1990s and 2000s. The company got its start selling Russian crude and fuel, including production from state-controlled Rosneft.