The Paris prosecutor’s office is currently investigating TCR International Limited, a Cypriot brokerage firm, for its alleged involvement in suspicious financial transactions totaling hundreds of millions of euros and dollars between 2019 and 2021. The investigation was initiated based on a report from Tracfin, the French Ministry of Economy’s financial intelligence unit, which raised concerns about the nature of the transactions conducted by TCR International Limited during this period. It is important to note that TCR International Limited had a banking partnership with BNP Paribas Securities Services, a branch of the French multinational bank BNP Paribas, at the time the transactions occurred.
The primary focus of the investigation is to determine whether TCR International Limited had any connections with Evguéni Prigojine, the deceased leader of the Russian paramilitary group Wagner. Prigojine met his demise in August last year following the crash of his plane in Russia, after a mutiny against Russian military leaders. The investigation is in response to a request for assistance from U.S. authorities, who are keen on uncovering the financial networks associated with Wagner and Prigojine.
TCR International Limited has strongly denied any direct financial involvement with Prigojine or Wagner. The company has emphasized its full compliance with the regulations governing its operations and vehemently condemned money laundering. Additionally, TCR International Limited has stated that it has no records linking any of its past or present clients to Prigojine, Wagner, or any entities associated with them. The firm’s legal representatives stress that the ongoing investigation is purely a precautionary measure and is not indicative of any wrongdoing on the part of the company.
BNP Paribas, when approached for comment, declined to provide a statement in light of its regulatory obligations. However, the bank has affirmed its commitment to upholding all applicable legal requirements and has implemented a comprehensive global compliance framework to ensure adherence to laws, rules, and regulations.
As of now, the investigation has not established a concrete link between the suspicious financial transfers and Prigojine or Wagner. Since Prigojine’s passing, the Kremlin has assumed direct control over Wagner. Unconfirmed reports from Russia suggest that the paramilitary group is presently led by Anton Elizarov, also known by his alias “Lotus”. Elizarov has not yet responded to requests for comments on the matter.
In conclusion, the investigation into TCR International Limited’s financial activities is ongoing, and further developments are anticipated as authorities seek to ascertain the precise nature of the transactions and any potential connections to Prigojine and Wagner.
