• Russian-sanctioned oligarchs from Vladimir Putin’s inner circle took advantage of a breach in UK secrecy legislation.
  Arkady and Boris Rotenberg, judo partners of the Russian president, utilised a non-disclosure organisation.
• The Rotenbergs could then hide their actual ownership.

Banned Russian-sanctioned oligarchs from Vladimir Putin’s inner circle took advantage of a breach in UK secrecy legislation.

Arkady and Boris Rotenberg, judo partners of the Russian president, utilised a non-disclosure organisation. The Rotenbergs could then hide their actual ownership.

Criminals may use English Limited Partnerships (ELPs), according to ministers.

A number of ELPs have been found to have links to fraudulent activity, terrorist financing, and money laundering, according to the findings of a joint investigation and Finance Uncovered.

In 2016 and 2017, the government of the United Kingdom passed regulations that made it mandatory for practically all firms to disclose the identities of their true owners. These recently enacted legislation regarding openness did not apply to ELPs.

Since then, 4,500 have opened.

ELPs are permissible in real estate, investment, and pension funds; they decrease risk.

ELPs lack a legal identification. Authorities say this implies they can’t lawfully possess goods or create bank accounts.

Our analysis revealed documents identifying ELPs’ beneficial owners and proof they were used to create bank accounts and aid criminal operations. Graham Barrow, a financial crime expert, termed them “weak.” They must keep the public in the dark.

Our data shows 53% more ELPs since 2017.

“Not surprised. Always depressed.” Economic crime is a global problem, says Royal United Services Institute’s Helena Wood.

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