Contents tagged with Panama papers

  • Swiss subsidiary of Russian GazpromBank banned from accepting new clients after money laundering audit

    The Swiss Financial Market Supervisory Authority (FINMA) has uncovered serious inadequacies in the anti money laundering procedures of GazpromBank’s subsidiary company in Switzerland (GazpromBank (Switzerland) Ltd.) and has banned it from taking on new private clients.

    The decision was made earlier, following a two-day investigation prompted by the Panama Papers – material on the offshore accounts and companies of politicians and high-ranking officials from more than 50 countries.“The bank was …

  • Russia’s Prosecutor General's Office has сlassified information about the ‘Panama Papers’

    In response to a request by the Rambler News Service (RNS) about the results of the prosecutor's inspection of the “Panama Papers,” the Prosecutor General's Office of the Russian Federation stated that this information is not available to the public, Rambler News Service reports.

    “The requested information contains details that cannot be discllosed,” said Alexander Kurennoy, head of the news service department of the Prosecutor General's Office of Russia, in response to the request by RNS.

    In …

  • Ukrainian deputies refuse to investigate offshore scandal

    The Verkhovna Rada (the Ukrainian Parliament) was not able to create a Temporary Investigative Commission to investigate the offshore account scandal as there were not enough votes in favor of the action. In order to create the commission, 226 votes were needed but only 108 deputies voted in favor of the project.

    The Vidrodzhennya (Revival) party did not have any votes in favor of the project. Of the Opposition Bloc party members, only one member voted in the commission’s favor. Of the 142 …

  • Media: Poroshenko transferred almost four million euros abroad

    On the 25th of March 2016, Ukrainian President Petro Poroshenko’s company, Prime Assets Capital, transferred almost €4 million abroad. They did this by purchasing shares from a related company in Cyprus. This was stated during a journalistic investigation on Slіdstvo.Іnfo, which was published on the 18th of May.

    According to the document, on the 25th of March, CEE Confectionary Investments Limited released 18,000 shares with a nominal value of one euro each. This was in addition to the 2,000 …

  • Russian Prosecutor General: The release of the Panama Papers was 'coordinated' by the West

    Russian Prosecutor General Yuriy Chaika has referred to the release of the Panama Papers as “carefully planned and coordinated by authorities of the western states”. He said this while at the Federation Council of Russia on the 27th of April.

    According to Chaika, the Russian Prosecutor General's Office had sent a request to Panamanian authorities to verify the information in the documents. “We are part of an information war and there will be no secrets,” Chaika said.

    On the 3rd of April 2016, …

  • Rothschild Investment Company confirms Poroshenko transferred his ROSHEN shares

    The President of Ukraine, Petro Poroshenko, transferred his share in ROSHEN Confectionary Corporation under a trust agreement to Rothschild Investment Company. “The agreement for the management of the trust was finalized on January 14, 2016. The agreement took 12-months to prepare,” as stated by Rothschild in response to a request of Interfax-Ukraine.

    “The agreement was drawn up in accordance with the international standards for the transfer of assets by politicians to trusts during their term …

  • Putin: The publication of the Panama Papers is an attempt to destabilize Russia

    Russian President Vladimir Putin made his first comments on the investigation of the International Consortium of Investigative Journalists, calling it “nonsense”, Dozhd reported.

    “The publication of the ‘Panama Papers’ is an attempt to destabilize the situation in the country,” Putin stated. “The easiest way to do this is to motivate people to distrust the authorities.”

    The International Consortium for Investigative Journalism (ICIJ) recently published a report highlighting the ways in which …

  • The National Anti-Corruption Bureau of Ukraine will not investigate Poroshenko's offshore accounts

    The National Anti-Corruption Bureau of Ukraine (NABU) will not conduct an investigation into the accounts of the Ukrainian President based on the Panama Papers, as it has no jurisdiction to do so.

    The National Anti-Corruption Bureau of Ukraine reported on Monday, April 4, 2016, that it will not conduct an investigation regarding the President of Ukraine, Petro Poroshenko, based on the Panama Papers and other information concerning offshore companies’ policies.  The NABU referred to the Law of …