Thread by @nickpdonovan

Where is the Assad / Makhlouf family money?

AKA #Syria citizens' money.

Global Witness investigation by @IKoshiw and colleagues featured in Financial Times today.

THREAD 1/11

We can reveal that Hafez Makhlouf, Assad's cousin, and former head of one of the feared branches of the Syrian secret police, owns apartments & offices in a prestigious Moscow skyscraper complex.

#Russia

(Hafez Makhlouf's image courtesy of ICIJ.)

2/

He likely has blood on his hands. Hafez Makhlouf was sanctioned by EU (and US) for his role in the disappearances, torture and suppression of pro democracy protestors.
europarl.europa.eu/cmsdata/124083…

3/

Hafez and other Makhlouf family members, including the wife of the infamous Rami Makhlouf, bought 20 apartments & offices worth about US$40m. Hafez bought 13 of the 20.

(In Moscow's City of Capitals skyscraper complex. Pic from Wikipedia.)

4/

Other Assad cousins bought the rest, either in their own name or through companies.

5/

E.g. after the Russians decisively intervened on Assad's side in the civil war Hafez used 3 Russian companies he controlled - Artemis, Bellona and Khestia - to buy 11 properties.

6/

These companies then engage in some curious financial trickery -loans and share transfers - with Lebanese offshore companies - Nylam and Briana - controlled by frontmen connected to Hafez Makhlouf's extended family.

7/

Whatever the reason for the transactions the effect is to distance Hafez's name from the property, while likely keeping it under his control.

Read more @Global_Witness
globalwitness.org/en-gb/campaign…

8/

I've variously heard Mohammed Makhlouf, Assad's uncle and Rami and Hafez's father, described as Mr 10%, or the Assad family money man, or the regime financier.

The Makhlouf tradition continues it seems.

9/

We don't know whether the money is regime money, President Assad's money, the Makhlouf's money or something else. But we can guess it originates with the Syrian people and (eventually) should be returned to them.

10/

Read the @FT write up here:

Also follow my colleague @IKoshiw

11/11

amp.ft.com/content/fb48c0…

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