LONDON PROPERTY, OLIGARCHS AND CRIME

Following yesterday’s report of a judge allowing the seizure of a £5 million London apartment linked to the Petrobas Operation Car Wash case come the following –

BELGRAVIA PROPERTY LINKED TO JUAN CARLOS INQUIRY

On 22 July, KYC 360 reported a story from The Times saying that a Swiss prosecutor leading a money laundering inquiry into secret offshore accounts linked to the former king of Spain is investigating the source of funds used by his former lover to buy a £5.5 million house in Eaton Square, London.

https://www.thetimes.co.uk/article/belgravia-property-linked-to-juan-carlos-inquiry-fn970q6lh

RUSSIA BLAZED A TRAIL FOR CHINESE OLIGARCHS TO NAB LONDON PROPERTY

On 22 July, Wired, commenting on the just-released (and long delayed) Parliamentary report on Russian interference/influence in the UK, quotes the report saying that the UK welcomed Russian money, and few questions – if any – were asked about the provenance of this considerable wealth. It says that now that Russia has created a well-trodden path, China is marching in – and the UK can’t afford to be as complacent this time. It is said that Hong Kong buyers have overtaken purchasers from Russia and India to become the largest group of overseas buyers investing in residential and commercial property in London, and 15% of homes bought for more than £1 million by international buyers in prime central London are now bought by those from China or Hong Kong. The investment was, in fact, the second wave of Chinese cash washing into the UK, according to an academic quoted in the article.

https://www.wired.co.uk/article/russia-report-real-estate

HOW LONDON BECAME RUSSIANS’ LAUNDROMAT, NO QUESTIONS ASKED

On 22 July, another article from The Times comments on the Russian influence report, saying that Britain has left it too late to untangle the web of Russian influence that permeates the upper ranks of the political and business establishment.

https://www.thetimes.co.uk/article/how-london-became-russians-laundromat-no-questions-asked-52vhnm9vw

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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