Swedbank’s High-Risk Secrets
21st November 2019
Swedbank’s High-Risk Secrets
Russian oligarch Mikhail Abyzov built a complex network of offshore companies that were used to move a fortune out of Russia, according to a Swedbank internal draft report obtained by OCCRP and its Swedish partner, national public TV channel Sveriges Television (SVT). Today he’s charged with defrauding the Russian government… Read More
London ballroom hosts showcase event for ‘golden passports’
18th November 2019
London ballroom hosts showcase event for ‘golden passports’
Three prime ministers took to a stage in the ballroom of a five-star London hotel this week offering the world’s wealthiest people “golden passports” and citizenship of their countries in return for hundreds of thousands of pounds of investment or flat “contributions”. Allen Chastanet, the prime minister… Read More
Jho Low of Cyprus: 1MDB fugitive’s passports keep police guessing
12th November 2019
Jho Low of Cyprus: 1MDB fugitive’s passports keep police guessing
The revelation last week that fugitive Malaysian businessman Low Taek Jho, better known as Jho Low, holds a Cypriot passport has sparked a fresh flurry of speculation over his whereabouts, as authorities attempt to track him down for alleged financial crimes linked to defunct state fund 1Malaysia Development Berhad. The… Read More
EU heavyweight states push for joint supervisor against money laundering
11th November 2019
EU heavyweight states push for joint supervisor against money laundering
The European Union’s largest states are pushing for the establishment of a new supervisory authority that would take over from states the oversight of money laundering at financial firms, after a series of scandals at the bloc’s banks. In a joint statement, Germany, France, Italy, Spain, the Netherlands and Latvia… Read More
Cyprus moves to strip 26 foreign investors of citizenship
7th November 2019
Cyprus moves to strip 26 foreign investors of citizenship
AP — Cyprus is to set in motion procedures to strip 26 foreign investors of citizenship, the country’s interior minister said Wednesday, amid questions over whether they should have been issued a Cypriot passport under a lucrative investment program. Constantinos Petrides said authorities will also investigate all investors… Read More
Cyprus: More questions raised about Jho Low’s passport
6th November 2019
Cyprus: More questions raised about Jho Low’s passport
Although suspicious transactions from Jho Taek Low’s local bank accounts were flagged as early as October 2015, and despite Interpol issuing an arrest warrant for the Malaysian businessman-cum-fugitive a year later, the government never initiated a process to revoke his passport. Daily Politis on Tuesday revealed more information raising a… Read More
Malaysian 1MDB Fugitive Became Cypriot Citizen in 2015
6th November 2019
Malaysian 1MDB Fugitive Became Cypriot Citizen in 2015
Cypriot former Interior Minister Sokrates Hasicos denied on Monday media reports saying Malaysian fugitive Jho Taek Low – a key figure in a multi-billion dollar embezzlement scheme – had acquired Cypriot citizenship in 2015 just two days after applying. Cypriot newspaper Politis said the businessman, known as Jho… Read More
Investigation: UK accounting firms tied to alleged Kolomoisky fraud
5th November 2019
Investigation: UK accounting firms tied to alleged Kolomoisky fraud
Britain is known for its strong rule of law. Yet London is also a global hotspot for money laundering, tax evasion and other financial crimes. Experts say that a no-questions-asked approach to opening U.K. companies has exacerbated this problem. However, the U.K.’s transparent registries and its freedom of information laws… Read More
Court thwarts bid to stop Satabank €1.5m release to ‘dirty oil’ suspect
4th November 2019
Court thwarts bid to stop Satabank €1.5m release to ‘dirty oil’ suspect
Malta’s financial regulator has lost a bid to stop the shuttered Satabank from releasing funds from the bank account of an offshore company belonging to ‘Dirty Oil’ suspect Gordon Debono. Debono is facing criminal charges related to a €30 million oil-smuggling ring in Catania, Sicily, together with conspirators Darren Debono,… Read More
Cyprus: Enhanced due diligence checks for passport by investment applicants
30th October 2019
Cyprus: Enhanced due diligence checks for passport by investment applicants
The government will soon be applying enhanced due diligence checks on foreign nationals who from now on apply for Cypriot passports via the citizenship-by-investment scheme, while at the same time it will comb through past naturalisations to ensure they comply with up-to-date eligibility requirements. Interior Minister Constandinos Petrides said on… Read More
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