Russian police have broken up a 270-billion-ruble...

The Azerbaijani nationals were detained on suspicion of laundering some $ 3 billion annually since 2008.

The money, believed to have come from illegal business operations, was transferred to foreign organizations and later smuggled back into Russia.

“It was established that the criminal scheme involved employees of Russian banks and other commercial structures: money was transferred to foreign organizations, cashed, and then smuggled back into Russia,” a statement said.

He said bogus firms were registered in connection with the scheme in Cyprus, Lithuania, Azerbaijan, and the United Arab Emirates.

MOSCOW, April 30 (RIA Novosti)