Hungary closes money-laundering case over Ukrainian bank's cash and gold shipment
The National Tax and Customs Administration (NAV) of Hungary has closed the criminal case on the "Ukrainian gold convoy" due to the lack of elements of a crime.
Hungarian authorities have closed a money-laundering investigation involving employees of Ukraine's state-owned Oschadbank, finding no evidence that a crime had been committed, Hungarian news outlet 24.hu reported.
Investigators established that the cash and gold involved came from legitimate interbank transactions between Oschadbank and Austria's Raiffeisen Bank International.
In March, Hungarian authorities detained seven Oschadbank employees transporting $40 million, €35 million and 9 kilograms of gold, opening an investigation on suspicion of money laundering.
Oschadbank maintained that the shipment had been properly documented and complied with international transportation and European customs rules. The seven employees were released the following day, while the seized assets were later returned to the bank.