other illegal activities, and there are various banking laws that, among other things, the know your customer rule, where banks are supposed to do reasonable due diligence to understand whose account it is, where they get their money, what type of business activities that they re engaged in, in order to try to provide reasonable but not absolute assurance that fake accounts aren t being set up for the purpose of money laundering. and in this particular case, there were two u.s. corporations, euro-american corporation and ibc, that set up about 2,000 different accounts for various russian brokerage, money came from eastern europe, went through these accounts, went back to eastern europe, and it was pretty clear from gao s report that inadequate due diligence was done by these institutions with regard to who their customers were. right, so it was the institutions if i may just jump in, it was the institutions
and i know this individual kaveladze wasn t specifically prosecuted or blamed but we know now that this kaveladze was this previous previously eighth unidentified person in this meeting at trump tower, including the president s son and key campaign leadership and this russian attorney, so do you find it concerning, just given all your knowledge of these schemes, you know, just to know that this individual had a seat in that room? well, i don t know this individual. i don t know what role that individual played in this meeting. candid candidly, from my standpoint, it looks like that meeting that is getting a lot of press attention, that people were saying that it was for one purpose and it was obviously for something very, very different. that s correct. the bottom line is, yeah, the bottom line is, that gao did il its work in a professional, objective, nonpartisan way. we did find concerns with regard to possible money laundering, with regard to not following the know your custom