Tag Archives: VANUATU

Crime, Offshore and Taxes in Putin’s Russia

Great story by Barron’s on Russian tax officials and cops involved in a 230 million USD scam. An intricate web of offshore companies is involved and several people died in “Russian” circumstances. The whistle blower who brought light in the case, Sergei Magnitsky, died in jail where he was interrogated by the same people he was accusing.  Interestingly enough the same group of offshore company formation agents, GT Group, that the Organized Crime and Corruption Reporting Project reported on are involved in the case. Latvian banks have again been used as in many other instances where major  fraud and money laundering schemes have been pulled off.

What Offshore Companies Are All About?

The Organized Crime and Corruption Project (OCCRP) investigated the world of offshores. Offshore Crime, Inc reveals how criminals have used offshore companies as fronts for drug trafficking, money laundering, weapon smuggling, monopolizing industries, privatization fraud and corrupting politicians and government officials.  Worldwide, they are used by Mexican drug lords to launder money, terrorism groups to wage war, Iran and North Korea to evade sanctions and run guns and a host of other criminal acts yet undiscovered.

The investigative series is work in progress with new important findings to be published next week. All we can tell is that, in complete legality, OCCRP reporters managed to obtain bank records of some of the most important players in the offshore company formation turf :)