On 26 August, Malta Today carried a feature about shipping mogul Mübariz Mansimov, arrested in March over the Turkey coup and alleged Gulen links, and who has a shipping empire – the Palmali group – based in tax-friendly Malta.  In May, the High Court in London issued a worldwide freezing order against Palmali Holding Company. The injunction was sought by Sberbank of Russia on all Malta companies, as well as some $261 million in assets that Mansimov holds in the UK.  However, in 2017, leaks indicated that the group’s ultimate beneficial owner was President Erdogan’s family and Erdogan had used shell companies in Malta and the Isle of Man to own or control shipping.

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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s