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

Per a US Senate committee investigation in 2020, Arkady and Boris Rotenberg – judo partners of the president – aged a plot of company to dodge anti-money laundering regulations, it has been claimed.

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These companies, identified as English Tiny Partnerships (ELPs), derive now not require their staunch householders to be identified and as hundreds are being created, is Britain constructing a recognition as a swamp for dirty money?

ELPs are legitimately aged in staunch property, investment and pension funds – they’ve tax advantages, as an illustration, and the amount patrons risk is itsy-bitsy.

Successive governments bear did now not address the downside and working with investigators from Finance Uncovered, we bear found proof that these companies had been aged to derive hundreds of hundreds of bucks rate of art.

BBC Economics Correspondent Andy Verity reports on what number of of of ELPs are registered to single address in central London.

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Newsnight is the BBC’s flagship info and latest affairs TV programme – with analysis, debate, exclusives, and sturdy interviews.

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