$8.2 Billion fine, ouch.
Wonder if it was Qatari's they were laundering money for or Iranians trying to avoid sanctions? #ButNothingsHappening
Wonder if it was Qatari's they were laundering money for or Iranians trying to avoid sanctions? #ButNothingsHappening
Horizon sells itself as "Your Swiss Partner in Qatar" so this is just the fines on it's Qatari location. I'm sure the Swiss government will get in line next! 
They say most of their clients are very wealthy entrepreneurs in "emerging economies" so Swampy locations...
Helping their clients manage not only their cash but their real estate, private jets, yachts & art collections. All common means of #MoneyLaundering
Helping their clients manage not only their cash but their real estate, private jets, yachts & art collections. All common means of #MoneyLaundering
Seems they set up trusts, which often hide the real owners of assets behind shell companies. They also have the ins & outs to get their clients residency visas for Qatar...
Looks like their services run the full gamut of creating shell companies, hiding ownership of assets & guidance on how to evade taxes on those assets too. I love the euphemism: tax optimizing experts!
The original article from FCCED may have made an error in the quantity of the fine in translating it. Other sources are saying $8M not $8B.
