Cargill fighting fraud claims, financial subpoenas by Russian bank
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August 1, 2023
Anthony Souffle, Star Tribune file
Cargill Inc. headquarters in Minnetonka, Minn. (Anthony Souffle/Minneapolis Star Tribune/TNS) ORG XMIT: 1534571
A bank largely owned by the Russian government has Cargill Inc. in its crosshairs.
The state-owned bank's quest is centered around the $2 billion failure of a privately owned Russian bank, Rost Bank, in 2017.
National Bank Trust, an arm of Russia's central bank, alleges in New York federal court that Rost Bank's owner committed fraud through several of his affiliated companies in the British Virgin Islands - and that Cargill and about 20 other global trading firms abetted that fraud.
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