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

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

In step with a US Senate committee investigation in 2020, Arkady and Boris Rotenberg – judo partners of the Russian president – outdated a form of company to dodge anti-cash laundering felony guidelines, it has been claimed.

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These companies, identified as English Restricted Partnerships (ELPs), assemble no longer require their valid householders to be identified and as thousands are being created, is Britain constructing a popularity as a swamp for dirty cash?

ELPs are legitimately outdated in valid property, investment and pension funds – they’ve tax advantages, for instance, and the amount merchants possibility is restricted.

Successive governments have did no longer take care of the thunder and working with investigators from Finance Uncovered, we have now got found proof that these companies have been outdated to take care of thousands and thousands of bucks worth of artwork.

BBC Economics Correspondent Andy Verity reports on how a whole bunch of ELPs are registered to single tackle in central London.

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Newsnight is the BBC’s flagship news and current affairs TV programme – with prognosis, debate, exclusives, and tough interviews.

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