Posts Tagged ‘nomirax’

April 2013

UK companies accused of money laundering in Magnitsky probe

Daily Telegraph

British companies laundered millions of pounds stolen from the Russian Treasury in a $230m (£150m) tax fraud that has triggered a major diplomatic battle between the Kremlin and the US, it has been alleged.

At least £35m passed through the foreign bank accounts of about 10 UK registered front companies to “clean” the money, an investigation has found. The alleged 2007 fraud at the heart of the case has been linked with five deaths, including that of Russian anti-corruption lawyer Sergei Magnitsky, whose story has been turned into a play and documentary.

Evidence that the UK system has been abused prompted one MP to demand the Government follow the US’s lead and ban the 60 Russians implicated in the fraud and Mr Magnitsky’s death, including a number of state officials, from entering the country.

Dominic Raab MP said: “We don’t want Britain to become a playground for these gangsters, let alone a battleground for the violence that tends to follow.”

Among the UK companies named is Nomirex, a shell company owned in Cyprus than names a Cypriot yoga teacher as its director. Between 2007 and 2009, its accounts stated it was “inactive”. However, an investigation by the BBC’s Panorama found that $365m was transferred through its Latvian bank account in that time.

Read More →

  • Facebook
  • Twitter
  • Google Buzz
  • LinkedIn
  • Google Bookmarks
  • Yahoo! Buzz
  • Tumblr
  • StumbleUpon
  • FriendFeed
  • NewsVine
  • Digg