While sworn to represent the interests of his constituents and those of the United States, Rep. Charles Taylor (R-NC) agressively pursued his own financial interest, purchasing a Russian bank with a former KGB operative, former General Boris Bolshakov.
The only American to own a Russian bank, Bank of Ivanovo, Taylor also owns an investment company, Columbus, that does business exclusively in Russia. In addition, Taylor profits from many and varied business interests in and around Ivanovo, a former manufacturing city 200 miles east of Moscow.
In 2000, he sponsored legislation that would have channeled money to banks like Bolshakov's former bank, SBS-Agro, and the Bank of Ivanovo (which Taylor purchased in 2003). When Taylor sponsored the home mortgage legislation, he had been doing business with Bolshakov for years.