Author Topic: Russian oligarchs: Where do they hide their 'dark money'?  (Read 416 times)

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Offline libertybele

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Russian oligarchs: Where do they hide their 'dark money'?
« on: March 28, 2022, 01:30:18 am »
Russian oligarchs: Where do they hide their 'dark money'?

How much Russian 'dark money' is there around the world?

US think tank the Atlantic Council says that Russians have about $1tn (£750bn) of what it calls "dark money" hidden abroad.

Its 2020 report estimated that one-quarter of this amount is controlled by Russian President Vladimir Putin and his close associates - wealthy Russians known as "oligarchs".

"This money can be exploited and steered by the Kremlin for espionage, terrorism, industrial espionage, bribery, political manipulation, disinformation, and many other nefarious purposes," the report said....

Another US think tank, the National Endowment for Democracy, says Putin has encouraged close associates "to steal from the state budget, extort money from private businesses, and even orchestrate the outright seizure of profitable enterprises".

It says that in this way, they have built up personal fortunes running into the tens of billions.

Russian opposition leaders Boris Nemtsov and Vladimir Milov have claimed that between 2004 and 2007, $60bn was transferred from oil giant Gazprom's funds to Putin's cronies.

The Pandora Papers, released by the International Consortium of Investigative Journalists, note that people close to Putin have become very wealthy - and could be helping him move his own wealth around......

Historically, much of this money has gone to Cyprus - enticed by favourable taxes. To some, the island became known as "Moscow on the Med".

According to the Atlantic Council, $36bn (£27bn) of Russian money went there in 2013 alone. Much of it arrived via shell companies, which are used to obscure the true owners.

In 2013, the International Monetary Fund persuaded Cyprus to close tens of thousands of bank accounts held by shell companies.......

https://www.bbc.com/news/world-60608282
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline IsailedawayfromFR

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Re: Russian oligarchs: Where do they hide their 'dark money'?
« Reply #1 on: April 02, 2022, 10:28:18 pm »
Could be lots of places.

The Rothschilds have for centuries been doing that, mostly owning companies through shell corporations.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington