NEW: Leaked bank records from the Isle of Man, a known tax haven, detail how Russian billionaire Oleg Tinkov was able to save millions in taxes on his fleet of private jets through a scheme designed for the super-rich. #CaymanLeaks ✈️ 1/ occrp.org/en/investigati…
You can find several photos of Tinkov’s jets on his Instagram page, except for this one which was deleted.
It shows the billionaire and his family using the business jet for a birthday celebration shortly before he was arrested on US tax fraud charges. 2/
The scheme shows how the ultra-wealthy can avoid taxes by registering their jets in the British crown dependency.
12 other bank clients used similar structures. Hundreds of exemptions have been issued by IOM since 2011, saving the owners ~£1B. 3/
Tinkov used a circular financial agreement between two companies he ultimately owned. One company would import the planes, then lease them to the other, both qualifying for tax-saving exemptions. 4/
But why choose the Isle of Man? The tax haven is known for its pro-business regulations. Plus the 1000 jets registered there can travel throughout the EU without being subject to custom checks. 5/
Regulators in the Isle of Man also have a cozy relationship with the financial sector.
For example, the head of the island’s customs agency previously held a senior position at KPMG Islands Groups, a network of branches covering infamous tax havens and secrecy jurisdictions. 6/
Dodging VAT on luxury items, like aircrafts, in offshore jurisdictions is a reality that @pierremoscovici, a former European Commissioner for Economic and Financial Affairs, says is "simply not fair.” 7/
This investigation is based on documents from Cayman National Bank in the Isle of Man, which were obtained by the transparency collective, @DDoSecrets 8/
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The International Anti-Corruption Conference (IACC) continues today with various panels and a plenary with our Co-Founder, Paul Radu (@Idashboard), and leaders from across the anti-corruption space. #IACC2024
Paul Radu(@Idashboard) will join @PublicEyeSuisse’s @AngelaMattli, @HenriThulliez of @PPLAAF, @FPCThinkTank’s @skcoughtrie & @eleanorrose of @TBIJ, for the session "Tackling SLAPPs: A Critical Frontier in The Global Fight against Corruption" #IACC2024
@IDashboard @PublicEyeSuisse @AngelaMattli @HenriThulliez @PPLAAF @FPCThinkTank @skcoughtrie @eleanorrose @TBIJ OCCRP Sr Investigator Tom Stocks (@TREStocks) will moderate “How to Catch an Enabler: Routes to Accountability for Corruption’s Professional Helpers” panel with @anticorruption's @ERostomashvili, @RUSI_org's Justyna Gudzowska, and others. #IACC2024 app.swapcard.com/widget/event/2…
Authorities in Moscow issued arrest warrants against two investigative journalists with Important Stories (IStories), accusing them of spreading fake news about the Russian army.
Both journalists –– editor-in-chief Roman Anin, and reporter Ekaterina Fomina – fled Russia after the government cracked down on free media, following the invasion of Ukraine.
Earlier this year, Russian authorities launched a case against Fomina for disseminating fake news after she published an interview with a corporal of the Russian Armed Forces who confessed to murdering a civilian in Ukraine.
Mining magnate Beny Steinmetz has faced negative headlines, outwitted business foes & confronted lawsuits.
OCCRP found that when he came under pressure, companies controlled by a Greek businessman struck deals that ended up helping him out.
Reporters used thousands of documents — including leaks and court filings from around the world — to uncover a paper trail of the deals between firms owned by Greek businessman Sabby Mionis and Israeli mining magnate Beny Steinmetz.
OCCRP found that on at least five occasions, Mionis’s Bahamas-registerered GSOL — or other of his firms — took actions that ended up helping Steinmetz protect assets from creditors, fight corruption charges, and tackle rivals in business disputes.
🇮🇳Documents obtained by reporters at OCCRP and the @FT suggest that the politically powerful Adani Group – one of India’s biggest conglomerates – sold more than two dozen shipments of coal to a state power company for 3x its original price. 👇
The politically powerful Adani Group is a massive conglomerate with interests in everything from airports to television stations.
Led by billionaire Gautam Adani, it is perceived as close to Prime Minister Narendra Modi.
Nearly 10 years ago, an Indian regulator opened an investigation into whether Adani Group had used offshore intermediaries to inflate the price of coal it supplied to utilities.
But Adani legally challenged regulators’ attempts to collect evidence.
Drug lords.
Notorious politicians.
Terrorism financiers.
In the gleaming cityscape of Dubai, some of the world’s wealthy + most wanted have taken advantage of secrecy, lax regulations & a hot property market.
Who are they? Come see.
Welcome to #DubaiUnlocked.
Using leaked data obtained by @C4ADS, we worked with @e24 to lead an investigative project involving 140 journalists from 74 media outlets to compile a global picture of who owns what in Dubai.