Reports & analysis by award-winning investigative journalist Lucy Komisar “”

Posts tagged with the keyword: ‘Russia’

Russian Deputy PM says 1,000 Russian banks are money-launderers

Russian Deputy PM says 1,000 Russian banks are money-launderers

April 4, 2011 –

Sergey Ivanov, the Russian deputy prime minister, spoke at a Council on Foreign Relations lunch today. I asked if he thought the U.S. and Russia should get together to put a stop to offshore tax evasion. He smiled and agreed that the two countries need to deal with the international offshore system. That was something to consider in the future. And then he said, “There are more than 1,000 banks in Russia. They are not banks but launderers.”

Menatep paper trail

Menatep paper trail

The Russia Journal, Nov 5, 2003

The charges against key shareholders in Yukos are enormous and very varied in scope. The Yukos tale is a long, complex and controversial one, requiring lengthy and painstaking substantiation. Public interest in the Yukos controversy is very high.

However charges and counter charges, mostly of a political nature, are being flung so wildly about in the media that The Russia Journal believes it essential at this stage to focus on the evidence in the accusations against Mikhail Khodorkovsky and his partners. His innocence of the charges that have been filed against him must be presumed until a competent trial is held.

Those who support his innocence of the charges are invited to review and comment on this, the first in a Russia Journal series on the case against him and others in Menatep Group.

The richest crook in Russia

The richest crook in Russia

Nov 2003

A business group headed by Russia’s richest man, Mikhail Khodorkovsky, who was arrested in October for allegedly defrauding the state of $1 billion, stashed money in offshore centers, including Switzerland, Luxembourg, the British Virgin Islands, the Seychelles, Panama and the Bahamas, according to Yelena Collongues-Popova, who worked for one of Khodorkovsky’s associates. Lucy Komisar, a New York investigative reporter who is writing a book about the offshore bank and corporate secrecy system, interviewed Collongues- Popova. This is her story.

PARIS — A French woman of Russian origin, with thousands of papers related to the Menatep business group and its offshore banking and dealings over the past decade, has been providing information to Russian prosecutors who are building a case against oil tycoon Mikhail Khodorkovsky, the richest man in Russia, who was arrested in October for tax evasion.

She says she set up numerous offshore companies and bank accounts in the Caribbean and Europe to help the Menatep group cheat Russian company shareholders and tax authorities. Her registered agent in the Caribbean was Icaza Gonzalez Ruiz and Aleman in the British Virgin Islands and Bahamas, against which she now has a legal action. She says she used Bank Leu (Bahamas), a subsidiary of Bank Leu, Geneva, to deposit funds in fiduciary accounts to have the benefit of withholding tax exemptions.