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The Crafty Ways Oligarch's Avoid Sanctions (10/1/24)
Oct 1, 2024 ·
40m 59s
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The Crafty Ways Oligarch's Avoid Sanctions (10/1/24)
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Description
Oligarchs often evade sanctions through various sophisticated techniques designed to obscure their wealth and maintain financial access: - Offshore Accounts and Shell Companies: They frequently utilize offshore accounts in tax...
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Oligarchs often evade sanctions through various sophisticated techniques designed to obscure their wealth and maintain financial access:
(Commercial at 26:43)
To contact me:
bobbycapucci@protonmail.com
source:
https://www.nytimes.com/2022/03/09/us/russian-oligarchs-sanctions-dubai.html
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- Offshore Accounts and Shell Companies: They frequently utilize offshore accounts in tax havens or set up shell companies that conceal the true ownership of their assets. These companies exist only on paper and are often located in countries with strong secrecy laws, making it difficult to trace their wealth.
- Proxies and Asset Transfers: Oligarchs commonly transfer their assets to family members, close associates, or trusted intermediaries. By doing so, they distance themselves from the assets on official records while still maintaining control through these proxies.
- Complex Corporate Structures: Many oligarchs establish complex webs of corporations across multiple countries. These legal structures, which involve trusts, foundations, and holding companies, help them move money while obscuring the ultimate owner, making it hard for authorities to track or seize their assets.
- Relocation to Friendly Jurisdictions: To further protect their wealth, some oligarchs move their assets to countries that do not strictly enforce international sanctions, such as the UAE, Turkey, or China. These nations often serve as safe havens, allowing oligarchs to continue business as usual.
- Investments in Luxury Goods: High-value assets like art, real estate, and luxury yachts are often used by oligarchs to store wealth. These physical assets are more challenging to track and seize, especially when their ownership is obscured through legal mechanisms or hidden within offshore entities.
(Commercial at 26:43)
To contact me:
bobbycapucci@protonmail.com
source:
https://www.nytimes.com/2022/03/09/us/russian-oligarchs-sanctions-dubai.html
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