HSBC and JP Morgan unwittingly processed payments for companies owned by the late Russian warlord Yevgeny Prigozhin. Leaked documents reveal how Prigozhin’s Wagner Group was able to expand its empire by secretly funnelling transactions through the Western banking giants.

JPMorgan Chase and HSBC unwittingly processed payments for companies in Africa controlled by the deceased Russian warlord Yevgeny Prigozhin, as his sanctions-hit Wagner private army expanded across a continent where it has been accused of brutal human rights abuses.

Leading western banks JPMorgan Chase and HSBC unwittingly processed payments for companies linked to Russian warlord Yevgeny Prigozhin, the late leader of the Wagner Group Private Military Company, the Financial Times reported on September 24.

JPMorgan and HSBC unknowingly processed payments for companies controlled by Yevgeny Prigozhin’s Wagner mercenary group, according to a new report by the U.S.-based Center for Advanced Defense Studies (C4ADS).