How a Russian Banker’s $25 Million Bonus Led to 12 Years in Jail


January 30 2017

After a London judge told George Urumov he’ll spend the next 12 years in jail for cheating his employer out of almost $150 million, the former trader turned his head to the gallery to try to catch his wife’s eye.

Until two days earlier when Urumov was found guilty of fraud and money laundering and Yulia Balk was acquitted, their lives were intertwined in more ways than most couples bargain for. Parents of a six-year-old child, they both faced charges related to an intricate scheme orchestrated by Urumov and a couple of colleagues to siphon millions of dollars from Otkritie Financial Corp. through fraudulent Argentine bond trades and bonus manipulation.