Litwin
Platinum Member
FinCEN Files: Sanctioned Putin associate Arkasha Rotenberg ‘laundered millions’ through Barclays. Baron what can you say about Rotenbergs clan and Putin?
www.bbc.com
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Art and money laundering
In 2008, Barclays opened an account for a company called Advantage Alliance.
The leaked documents show the company moved £60m between 2012 and 2016. Many of the transactions occurred after the Rotenberg brothers had been sanctioned.
In July this year, an investigation by the US Senate accused the Rotenbergs of using secretive purchases of expensive art to evade sanctions - one of the companies involved in the scheme was Advantage Alliance.
US investigators concluded there was strong evidence that Advantage Alliance was owned by Arkady Rotenberg, and that the company had used its Barclays account in London to buy millions of dollars of art for him.
A report noted how "secrecy, anonymity, and a lack of regulation create an environment ripe for laundering money and evading sanctions". Auction houses in the US and UK "failed to ask basic questions" about the buyers of the art.
Despite the sanctions, Arkady appears to have paid $7.5m to acquire the René Magritte painting La Poitrine.
In 17 June 2014 a company linked to Arkady sent the cash from Moscow to Alliance's Barclays account in London. The following day Barclays sent the cash to the seller in New York.
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Putin associate ‘moved millions’ through Barclays
The account was used to avoid US financial restrictions, a leak of bank documents suggest.
www.bbc.com
Art and money laundering
In 2008, Barclays opened an account for a company called Advantage Alliance.
The leaked documents show the company moved £60m between 2012 and 2016. Many of the transactions occurred after the Rotenberg brothers had been sanctioned.
In July this year, an investigation by the US Senate accused the Rotenbergs of using secretive purchases of expensive art to evade sanctions - one of the companies involved in the scheme was Advantage Alliance.
US investigators concluded there was strong evidence that Advantage Alliance was owned by Arkady Rotenberg, and that the company had used its Barclays account in London to buy millions of dollars of art for him.
A report noted how "secrecy, anonymity, and a lack of regulation create an environment ripe for laundering money and evading sanctions". Auction houses in the US and UK "failed to ask basic questions" about the buyers of the art.
Despite the sanctions, Arkady appears to have paid $7.5m to acquire the René Magritte painting La Poitrine.
In 17 June 2014 a company linked to Arkady sent the cash from Moscow to Alliance's Barclays account in London. The following day Barclays sent the cash to the seller in New York.
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