Join us Read
Listen
Watch
Book
Capital Economy, Business and Finance

UK leads swoop on global Russian crime ring

A British-led police operation arrested 84 suspects yesterday accused of using stolen crypto to turn cash from drug gangs into laundered funds for Russian oligarchs. The head of operations at the UK’s National Crime Agency – not known for its ambition or results – said the scheme mixed McMafia and Narcos with elements of Le Carré. It centred on a 38-year-old Russian businesswoman, Ekaterina Zhdanova, whose “concierge” service for the very rich appears in reality to have been focused on helping Russians evade sanctions to move money to the Gulf. She has a loose connection to Trump via his nominee for Commerce Secretary, Howard Lutnick, whose Wall Street brokerage owns a 5 per cent stake in Tether, her preferred cryptocurrency. She’s in custody in France. £20 million in cash and crypto has been seized, but that’s not much next to the £100 billion laundered through the UK each year.


Enjoyed this article?

Sign up to the Daily Sensemaker Newsletter

A free newsletter from Tortoise. Take once a day for greater clarity.



Tortoise logo

A free newsletter from Tortoise. Take once a day for greater clarity.



Tortoise logo

Download the Tortoise App

Download the free Tortoise app to read the Daily Sensemaker and listen to all our audio stories and investigations in high-fidelity.

App Store Google Play Store

Follow:


Copyright © 2025 Tortoise Media

All Rights Reserved