Featured Luxembourg

Tax transparency: MEPs mount renewed challenge over Openlux exposé

Luxembourg has dismissed accusations of rampant tax avoidance and insisted that the country respects “all the applicable European and international rules and standards in terms of tax transparency , the fight against tax abuses and the fight against money laundering and the financing of terrorism”. The duchy is reeling from relevations made public in an exercise dubbed as Openlux, a collaboration… Read More

Gone with the Wind: Argentina’s Former First Family Used Luxembourg Companies to Reap $70 Million

By Antonio Baquero, Nathan Jaccard and Ivan Ruiz, OCCRP, 12 February 2021 OCCRP – In December 2015, Mauricio Macri, a civil engineer who had risen to fame as the head of the popular football club Boca Juniors and the mayor of Buenos Aires, was sworn in as… Read More

Brother of powerful Cuban general moves like a phantom in embargo-evading offshore world

If you’ve wondered how the Cuban economy has survived under one-party rule despite 59 years of a trade embargo imposed by its northern neighbor, a small yet wealthy Western European country offers a glimpse how. To stay afloat in difficult times, Cuba has relied on the same mechanism used by… Read More
12th February 2021
As one of the world’s biggest oil producers, Venezuela’s government allegedly handed out billions of dollars in energy contracts to an inner circle of politically connected young businessmen, who in turn moved the bulk of their new fortunes to Europe, with some diverting their assets to South Florida. One such… Read More
12th February 2021
By Luiz Fernando Toledo, Jonny Wrate, Allan de Abreu, Fernanda da Escóssia, José Roberto de Toledo and Thais Bilenky, OCCRP, 11 February 2021 OCCRP — What do an 81-year-old grandmother, a millionaire lawyer, and a waste treatment tycoon have in common? They have each been investigated as… Read More
11th February 2021
By Olesya Shmagun, OCCRP, 10 February 2021 OCCRP — A 33-year-old Russian man who runs no known profitable businesses secretly owns European real estate and other assets worth at least 50 million euros, corporate records from Luxembourg show. Sergey Toni’s properties, which he holds through seven… Read More
10th February 2021
The European Commission has not ruled out tightening tax loopholes and transparency gaps such as those found in Luxembourg. The comments on Monday (8 February) follow the publication of an investigation disclosing how the Italian mafia, moguls and billionaires continue to park their wealth in the… Read More
9th February 2021
By Antonio Baquero (OCCRP), Maxime Vaudano (Le Monde) and Cecilia Anesi (IRPI), 8 February 2021 OCCRP — In 2019, an announcement appeared in the Spanish press. A major stake in one of Spain’s largest weapons manufacturers, Maxamcorp, had been sold. The Spanish government approved the deal, and… Read More
29th January 2021
The Financial Action Task Force, an intergovernmental anti-money laundering monitor, has delayed its visit to Luxembourg for an inspection for a second time because of the coronavirus pandemic. Meetings scheduled for June and July 2020 were pushed back to March 2021 in the early stages of the pandemic last year. Read More
19th November 2020
It isn’t much fun these days being Prince Andrew, eighth in line to the British throne. Last year he was grounded by his mother, the queen, after a disastrous TV interview about his links to the late money manager and convicted pedophile Jeffrey Epstein. The prince rarely leaves… Read More
27th October 2020
By Anuška Delić (Oštro/OCCRP), Matej Zwitter (Oštro) and Maja Čakarić (Oštro), OCCRP, 26 October 2020 OCCRP — After Slovenia’s independence from Yugoslavia in 1991, the former socialist state privatized its assets, giving each citizen a certificate to invest in the few blue-chip firms the country had at the time. The… Read More
4th September 2020
The stepson of Malaysia’s former prime minister will forfeit assets worth more than $60 million that he purchased using funds embezzled during the multibillion-dollar looting of a Malaysian state investment fund, the Justice Department announced Wednesday. The 1Malaysia Development Berhad fund, or 1MDB, was established in 2009 by then-Prime Minister… Read More
31st August 2020
Iran’s central bank said on Saturday it was taking legal steps to counter a lawsuit filed in a U.S. court by creditors seeking to seize $1.7 billion of its assets held by Deutsche Boerse’s (DB1Gn.DE) Clearstream unit. The German stock exchange operator said earlier the creditors had filed the… Read More