News Business Crime & Financial Services 3rd May 2017

Peter Lownds Represents Senior Banker in $3.5M Banking Corruption Case

Peter Lownds started a 6 week banking corruption case at The Old Bailey this week. Peter acts for Andrey Ryjenko, a former senior banker with the European Bank of Reconstruction and Development.

Ryjenko is charged with entering into a corrupt agreement with a US based consultant who was instructed by by six different oil and gas companies from the former Soviet Republics in their applications for funding to the Bank between 2007-2010. The prosecution case is that under the agreement Mr Ryjenko agreed to favour the consultant in return for a 50% share of the commission the consultant received from successful applications. The prosecution allege that Ryjenko introduced the consultant to the applicant companies and that payments totalling $3.5M were made from the consultant’s company Chestnut Consulting to Mr Ryjenko’s sister.

Peter is being led by Jeff Chapman QC from Fountain Court, and is instructed by Mike Schwarz and Jessica Skinns of Bindmans. The case is being heard by HHJ Cooke QC.

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