http://www.esquire.com/news-politics/politics/news/a53475/trump-cabinet-russia-business/
"The essential folks at McClatchy have raised some questions about the ownership stake in a Cyprus bank held by Wilbur Ross, who by eight o'clock tonight likely will be your Secretary of Commerce. The bank that does a lot of business with various Russian oligarchs, including, it is alleged, as a spin cycle for money that the Russian kleptocracy would like to have cleaned. More recently, he led a rescue of Bank of Cyprus in September 2014 after the Cypriot government — in consultation with Russian President Vladimir Putin — first propped up the institution. "Cyprus banks have a long and painful history of laundering dirty money from Russians involved with corruption and criminality," said Elise Bean, a former Senate investigator who specialized in combating money laundering and tax evasion. "Buying a Cyprus bank necessarily raises red flags about suspect deposits, high-risk clients and hidden activities." The Russian business and government elite have often sought financial security in the Mediterranean island's banking system. Oligarch Dmitry Ryvoloviev took a nearly 10 percent stake in Bank of Cyprus in 2010. Two years earlier, amid the U.S. financial crisis when real-estate prices were softening, Ryvoloviev purchased Donald Trump's Palm Beach mansion for $95 million. The transaction generated questions because of its inflated market price, about $60 million more than Trump had paid for the Florida property four years earlier. When Europe's debt crisis spread and affected Cyprus in 2012 and 2013, that nation's second biggest bank, Laiki Bank, was closed. The government imposed losses on uninsured deposits, many belonging to Russians."
