Sanctioned Russian oligarchs 'exploited' UK secrecy loophole – BBC Newsnight

by Moin Uddin Ahmed Tipu

According to a US Senate committee investigation in 2020, Arkady and Boris Rotenberg – judo partners of the Russian president – used a type of company to dodge anti-money laundering laws, it has been claimed.

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These companies, known as English Limited Partnerships (ELPs), do not require their real owners to be identified and as thousands are being created, is Britain building a reputation as a swamp for dirty money?

ELPs are legitimately used in real estate, investment and pension funds – they have tax advantages, for example, and the amount investors risk is limited.

Successive governments have failed to deal with the issue and working with investigators from Finance Uncovered, we have discovered evidence that these companies were used to buy millions of dollars worth of art.

BBC Economics Correspondent Andy Verity reports on how hundreds of ELPs are registered to single address in central London.

#Newsnight #BBCNews #BBC

Newsnight is the BBC’s flagship news and current affairs TV programme – with analysis, debate, exclusives, and robust interviews.

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32 comments

Ionwerks August 4, 2022 - 10:35 PM

Now look into how Dido Harding spaffed 37 billion (with a 'B') on an unusable Test & Trace system.

My Beautiful life August 4, 2022 - 10:35 PM
الهام اليمانية August 4, 2022 - 10:35 PM

ندائي إلي كل مسلم قال عزوجل (قُلْ إِنَّ رَبِّي يَبْسُطُ الرِّزْقَ لِمَنْ يَشَاءُ مِنْ عِبَادِهِ وَيَقْدِرُ لَهُ وَمَا أَنْفَقْتُمْ مِنْ شَيْءٍ فَهُوَ يُخْلِفُهُ وَهُوَ خَيْرُ الرَّازِقِينَ) وقال النبى ﷺ(ما نقص مال من صدقة ) رواه مسلم وقال ﷺ ( أنفق يابن آدم ينفق الله عليك) متفق عليه وقال ﷺ:( مَا مِنْ يَوْمٍ يُصبِحُ العِبادُ فِيهِ إِلَّا مَلَكَانِ يَنْزِلانِ، فَيَقُولُ أَحَدُهُمَا: اللَّهُمَّ أَعْطِ مُنْفِقًا خَلَفًا، وَيَقُولُ الآخَرُ: اللَّهُمَّ أَعْطِ مُمْسِكًا تَلَفًا )ِ((يا ناس يا امة محمد صارت قلوبكم بلا ﺭﺣﻤﻪ ﻭﻻ ﺷﻔﻘﻪ ﻭﻻ ﺃﻧﺴﺎﻧﻴﻪ ﻛﻢ ﺷﻜﻴﺖ ﻭﻛﻢ ﺑﻜﻴﺖ ﻛﻢ ﻧﺎﺩﻳﺖ ﻭﻛﻢ ﻧﺎﺷﺪﺕ ﻭﻟﻜﻦ ﻻ ﺣﻴﺎﺓ ﻟﻤﻦ ﺗﻨﺎﺩﻱ ﻫﻞ ﻳﺮﺿﻴﻜﻢ ﺃﻥ ﺃﺧﻮﺍﻧﻲ ﻳﺒﻜﻮﻥ ﻭﻳﻤﻮﺗﻮﻥ ﻣﻦ ﺍﻟﺠﻮﻉ ﻭﺃﻧﺘﻢ ﻣﻮﺟﻮﺩﻭﻥ ﻳﻌﻠﻢ ﺍﻟﻠﻪ ﺍﻟﻌﻠﻲ ﺍﻟﻌﻈﻴﻢ ﺃﻧﻨﺎ ﻻ ﻧﻤﻠﻚ ﺣﺘﻰ ﻗﻴﻤﺔ ﻛﻴﻠﻮ ﺩﻗﻴﻖ ﺃﺑﻲ ﻣﺘﻮﻓﻲ ﻭﺃﺧﻮﺍﻧﻲ ﺻﻐﺎﺭ ﻟﻴﺲ ﻟﻨﺎ ﺃﺣﺪ ﺃﻗﺴﻢ ﺑﺎﻟﻠﻪ ﺍﻟﻌﻈﻴﻢ ﺃﻧﻬﻢ ﻧﺎﻣﻮﺍ ﺃﻣﺲ ﺟﻮﻋﺎﻧﻴﻦ ﻭﻫﻢ ﻳﺒﻜﻮﻥ من الالم والولايات ﻳﺎﺃﻫﻞ ﺍﻟﺨﻴﺮ ﻫﻞ ﻳﺮﺿﻴﻜﻢ ﺃﻧﻨﺎ ﻣﻦ ﺃﻣﺲ ﻟﺤﺪ ﺍﻵﻥ ﺑﺪﻭﻥ ﺃﻛﻞ ﻳﺎﺃﺧﻮﺓ الأسلام يافاعلين الخير انا اقسم بالله على كتاب الله اني لااكذب عليك ولا انصب ولا احتال اني بنت يمنيه نازحين انا واسرتي بيتنا ايجار الشهرب 14 الف يمني والان علينا 56 الف حق4 شهور وصاحب البيت من الناس الي ماترحم والله يا اخي انه يجي كل يوم يبهدلنا ويتكلم علينا ويريد يطردنا من البيت للشارع لانناماقدرناندفعله الأجار وما يروح الئ بعدما نبكي ورجعوتكلمو الجيران ومهلنالاخره الأسبوع واذا دفعنا له حلف يمين بالله بيخرجنا إلى الشارع بدون رحمه واحنا.مشردين من بلادنا بسبب هذا الحرب ولانجد قوت يومنا وعايشين اناوامي واخوتي سغار والدنا متوفي الله يرحمه ومامعنا أحد في هذا الدنيا يقف جاانبنا في هذه الظروف القاسيه ومامعي اخوان كباره يقفوا معنا في هذا الظروف اخوتي سغار ولكن انا بنت لااستطيع ان اشتغل اقسم بلله ان اخواني خرجوا على للشارع وشافو وشافو الجيران ياكلو راحوا وقفوا عند بابهم لجل يعطوهم ولوخبزه يسد بها جوعهم والله الذي له ملك السموات والارض انهم غلقو الباب وطردوهم ورجعویبکو ويقولو احنا ليش مااحد يعطينا اكل هل ابونا ايرجع والله يااخي اني ماقدرت ارد عليهم غير بالدموع والله ثم والله ما نجد لقمت عیش والان لوما احدنا ساعدنا في كيلوا دقيق اقسم بالله انموت من الجوع فيا اخي انا دخيله على الله ثم عليك واريد منك المساعده لوجه الله انشدك بالله تحب الخير واتساعدني بقدر الاستطاعه ان تتواصل معي واتساب00967716842761 وتطلب اسم بطاقتي وترسلي ولاتتاخر وايعوضك الله بكل خير فيا اخي انت رجال إذاشفت اسرتك جاوعين المستحيل من اجل تامن لهم الأكل ولكن انابنت عيني بصيره ويدي قصيره ليس لي أب مثلك يقف جنبي ويحميني من الذل والاهانات واخواني سغار شوف كيف حالتهم وساعدنا وأنقذنا قبل أن يطردونا في الشارع تتبهدل أو نموت من الجوع أنا اقسم بالله الذي رفع سبع سموات بلاعمدوبسط الارض ومهداني لااكذب عليك بحرف من هذا الرساله واني ماطلبتك إلى من ضيق ومن قسوت الضروف والحال الذي احنافيه وانا واسرتي نسالك بالله لولك مقدره ﻳﺎﺃﻫﻞ ﺍﻟﺨﻴﺮ ﺍﻟﻲ ﻋﻨﺪﻩ ﺍﻟﻘﺪﺭﻩ ﻋﻠﻰ ﻣﺴﺎﻋﺪﺗﻨﺎ لايتاخر علينا لحظه هاذا رقمي واتساب 00967716842761 الذي يقدر يساعدنا يراسلني على الواتساب نرسله ألاسم الكامل يحولنا بقدر استطاعته الله يجزيكم خير

ronza 3 August 4, 2022 - 10:35 PM

https://youtu.be/5VL9LU3onfs It's here finally!

J D August 4, 2022 - 10:37 PM

Our rich have been laundering their money for decades.

Neil Wilde August 4, 2022 - 10:37 PM

Defund the BBC

Alia khan August 4, 2022 - 10:38 PM

You have to have a click and I have to change the life of the poor May Allah bless you in 2022, keep your father's shadow safe on you. Give him a long life….

tricky August 4, 2022 - 10:41 PM

seeing the number of people cheering for Russia from not so developed parts of the world like Brazil, Bangladesh, India, China, Pakistan, Africa and ASEAN. I feel like their inability to afford good education plays a big role. Tricky 🇬🇧🇺🇦 ❤

NeonDarkness August 4, 2022 - 10:41 PM

Nice twist of the words to mislead the public. It's not the rules that are the problem but the Other's exploiting the rules that's the problem. 🧐 Yeah this isn't propaganda as well.🗑🗑🗑🗑🗑

Marvin T P Android August 4, 2022 - 10:41 PM

' loophole '

Jim Court August 4, 2022 - 10:41 PM

Nothing from BBC on Andrew Woke Warren being binned in Florida

Julesong August 4, 2022 - 10:42 PM

Cue the comments from Putin’s propagandists. Putin began the online attacks long ago and you see the results w/ anti-democracy comments. We’re not fooled. We see the commenters/bots for what they are: pro-dictator Russian fascist propaganda.

omie djo August 4, 2022 - 10:42 PM

The English government is the biggest criminal organisation in the whole world.
They are in All the big problems, nobody talkes about it, but they are behind all the big shit on all continents, for MORE than 100 years. America is not doing anything without the English consent.

Tom Donaldson August 4, 2022 - 10:45 PM

Clearly, some very very powerful people in English government are financially benefiting. That is why this will never be shut down. We do not have government as we like to think of it, instead, we have crime bosses.

word 2 August 4, 2022 - 10:48 PM

Why is it that the US seems to be doing so much more to prevent this type of criminal activity than the UK?

Lawrence Anthony August 4, 2022 - 10:50 PM

The majority of you don't understand so I will explain, I honestly believe that ukraine should completely surrender now as they are obviously fighting a conflict with they simply can not win.

So far the intervention has been relatively smooth, however if Zelensky continues to play the war hero then future plans and arrangements could be severely delayed.

The Ukrainian people will hugely benefit from Russian intervention, but they will need some guidance and more importantly patience.

I have a degree in Political Science from Exeter University and I have also worked in conjunction with the U.N so I speak with experience and knowledge regarding this subject.

People who have tried debating me regarding this have lost and therfore switched their support and now agree with me.

(Keep replies respectful as this is a sensitive subject, i only want comments from people who have a degree)

Lami August 4, 2022 - 10:52 PM

Cringe af

Duncan Stewart August 4, 2022 - 10:53 PM

Nice Russian nesting doll analogy. Over 10,000 dollars transfers gets federal notice. Who are the British involved? Name & shame them to protect trade with the USA little UK.

ArtLOVEsU August 4, 2022 - 10:54 PM

lol shocking!!! Corrupting within government. Everyone quick act surprised!

What’s new… the same story every decade, different people. It’s time to punish those who have no moral compass and who don’t serve the people.
It’s time for global change like French Revolution… it’s the only way to remind the rich and entitled that we are all one planet, and we the people will not comply.

julian shepherd August 4, 2022 - 10:55 PM

Margaret Hodge has bounced her money from Liechtenstein to Panama to London.

Harvey Barvey August 4, 2022 - 10:56 PM

Rottenberg…… another YOU-WISH member without any humanity

Rocknroll August 4, 2022 - 10:58 PM

It's hilarious to me that the expression "Back in the day…" has made its way from 90s US rap and street-speak to now be so commonplace that Dame Margaret Hodge is now using it on Newsnight.

Thou shalt not suffer a fascist to live August 4, 2022 - 10:59 PM

Seize ALL their assets!

Green Goose August 4, 2022 - 11:01 PM

THE BBC’s DIRECTOR ROBERT SHARP USED TO BE BORIS JOHNSONS RIGHT HAND MAN WHEN HE WAS MAYOR AND HAS DONATED 400000 to the Tory RATS

Green Goose August 4, 2022 - 11:01 PM

THE BBC’s DIRECTOR ROBERT SHARP USED TO BE BORIS JOHNSONS RIGHT HAND MAN WHEN HE WAS MAYOR AND HAS DONATED 400000 to the Tory RATS

Green Goose August 4, 2022 - 11:01 PM

THE BBC’s DIRECTOR ROBERT SHARP USED TO BE BORIS JOHNSONS RIGHT HAND MAN WHEN HE WAS MAYOR AND HAS DONATED 400000 to the Tory RATS

Funster73 MCR August 4, 2022 - 11:05 PM

The government have no control over the City of London. They actually have their freedom written in law.

Alex Liao August 4, 2022 - 11:08 PM

I took a closer look at the UK and Russia maps:
UK 243,610 square kilometers
Russia 17,100,000 square kilometers, which not counting 20% of Ukraine.
I can't see where the British fist is. British aircraft carrier aircraft even can not be self-produced!

Serguei Mikhail August 4, 2022 - 11:10 PM

I would like to thank more equal than others Boriska for closing the global laundromat in London for our crooks. BTW, why is it operating for the rest of them 24/7, Britons?

Eugene Cartwright August 4, 2022 - 11:10 PM

Political policy no 1.. keep everyone in the dark and feed us all shit…

Paul Samson August 4, 2022 - 11:13 PM

Why do you think Politicians make laws with loopholes?

Laara August 4, 2022 - 11:15 PM

How about they look into the politicians that failed to do their duty because we all know they are in bed with the money laundering oligarchs.