Category: Politically Exposed Persons

Swiss say working with Egypt, Ukraine to recover stolen assets

GENEVA, June 4 (Reuters) – Switzerland is working hard to prevent ill-gotten assets of corrupt leaders from reaching Swiss bank coffers and an international clampdown on tax evasion could help the campaign, a senior Swiss foreign ministry official said on Wednesday. Swiss authorities are already working closely with Egyptian counterparts… – Continue reading

Shamed former minister ‘hid €2.5m in UK account’

France’s disgraced former budget minister Jerôme Cahuzac, who was sacked after admitting he hid funds in a Swiss account, also had a €2.5 million stashed in a secret bank account in the Isle of Man, a British tax haven, it was claimed on Thursday. Cahuzac’s estranged wife Patricia admitted the… – Continue reading

Documents reveal Kurchenko’s alleged tax evasion schemes

The young Ukrainian ex-billionaire Serhiy Kurchenko, now widely suspected of being a front man for overthrown President Viktor Yanukovych’s family, clearly liked offshore destinations. His companies registered in offshore zones are now accused of trading in oil products using a tax evasion scheme that cost Ukraine’s government an estimated $1… – Continue reading

Ukraine Crisis: Liechtenstein Joins Switzerland in Freezing ex-Ukraine Government Assets

Liechtenstein, one of the world’s most uber secretive tax havens, has joined Switzerland in freezing the assets of ousted Ukrainian president Viktor Yanukovich’s administration. An unnamed senior Liechtenstein government source told Reuters that Liechtenstein was freezing the assets of former party officials in the Ukrainian administration after other jurisdictions launched… – Continue reading

UBS helped set up offshore firm for wife, daughter of corrupt railways official, database shows

Swiss bank UBS is at the centre of embarrassing revelations that it helped to set up a secretive offshore firm for the wife and daughter of a former senior Chinese official who has since been convicted of corruption. Zhang Shuguang, a former deputy chief engineer of the disbanded railways ministry,… – Continue reading