Sanctioned Russian oligarchs ‘exploited’ UK secrecy loophole – BBC Newsnight

Sanctioned Russian oligarchs ‘exploited’ UK secrecy loophole – BBC Newsnight

In accordance to a US Senate committee investigation in 2020, Arkady and Boris Rotenberg – judo companions of the Russian president – extinct a model of company to dodge anti-cash laundering prison pointers, it has been claimed.

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These corporations, is named English Cramped Partnerships (ELPs), enact no longer require their unswerving house owners to be identified and as thousands are being created, is Britain constructing a reputation as a swamp for soiled cash?

ELPs are legitimately extinct in unswerving estate, investment and pension funds – they’ve tax advantages, for instance, and the amount traders likelihood is limited.

Successive governments possess didn’t take care of the effort and dealing with investigators from Finance Uncovered, we now possess got stumbled on evidence that these corporations had been extinct to rob millions of bucks price of artwork.

BBC Economics Correspondent Andy Verity experiences on how hundreds of ELPs are registered to single address in central London.

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Newsnight is the BBC’s flagship knowledge and recent affairs TV programme – with analysis, debate, exclusives, and robust interviews.

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