RUSSIAN OLIGARCHS OBSCURE THEIR WEALTH THROUGH SECRETIVE ISLE OF MAN NETWORK

On 25 October, the Wall Street Journal reported that a web of shell companies and middlemen managed by services firm Bridgewaters makes it hard for authorities to track assets and enforce sanctions.  It refers to a deal involving a Silicon Valley start-up, routed through a series of offshore companies and a venture fund, which let the oligarch, Alisher Usmanov, move more of his vast wealth into the West.  The fund’s stake at the IPO was valued at $175 million.

https://www.wsj.com/articles/russian-oligarch-bridgewaters-sanctions-offshore-network-11665767178

 

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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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