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Banned Russian oligarchs exploited UK secrecy loophole

bbc.com

Banned Russian oligarchs exploited UK secrecy loophole

Sanctioned Russian oligarchs from Vladimir Putin's inner circle exploited a UK secrecy loophole left open by the government. Arkady and Boris Rotenberg - judo partners of the Russian president - used a type of company that was not required to identify its real owners. Ministers have acknowledged concerns that these companies, known as English Limited Partnerships (ELPs), have also been abused by criminals. A joint investigation by the BBC and Finance Uncovered has discovered evidence linking a number of ELPs to fraud, terrorism and money laundering. In 2016 and 2017, the government introduced measures that forced almost all UK companies to identify their real owners. ELPs were not covered by these new transparency laws.
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28 of March 2024