Sanctioned Russian oligarchs ‘exploited’ UK secrecy loophole – BBC Newsnight

Sanctioned Russian oligarchs ‘exploited’ UK secrecy loophole – BBC Newsnight

In keeping with a US Senate committee investigation in 2020, Arkady and Boris Rotenberg – judo partners of the Russian president – mature a style of company to dodge anti-money laundering regulations, it has been claimed.

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These companies, is named English Limited Partnerships (ELPs), enact now not require their accurate house owners to be identified and as hundreds are being created, is Britain constructing a reputation as a swamp for soiled money?

ELPs are legitimately mature in accurate estate, funding and pension funds – they’ve tax advantages, to illustrate, and the amount merchants threat is dinky.

Successive governments dangle failed to tackle the priority and dealing with investigators from Finance Uncovered, we dangle learned proof that these companies dangle been mature to amass hundreds and hundreds of bucks price of art work.

BBC Economics Correspondent Andy Verity experiences on how hundreds of ELPs are registered to single address in central London.

#Newsnight #BBCNews #BBC

Newsnight is the BBC’s flagship news and sleek affairs TV programme – with prognosis, debate, exclusives, and sturdy interviews.

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