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Paradise Paper: Russian Businessman defraud a European Bank.

in PRESS RELEASE/REGIONS by

Alexander Glukhovskoi, a Russian businessman is reportedly at the center of a scam which funneled millions of dollars from a taxpayer-funded European development bank to offshore shell companies, according to the Paradise Papers leak.On Sunday, the International Consortium of Investigative Journalists (ICIJ) published 13.4 million documents leaked from the Bermuda-based law firm Appleby. The so-called Paradise Papers, which follow the group’s earlier Panama Papers in 2015, detail the methods the rich and powerful use to hide their wealth offshore. Aftenposten, a media partner of ICIJ based in Norway, reported on Wednesday that the taxpayer-funded European Bank for Reconstruction and Development (EBRD) in 2008 handed millions of dollars of funds to one of Appleby’s clients — Imperial Mining. But the money was never used for the purpose. The company had two shareholders at the time, Aftenposten reports IM International and Americo Resources, which is co-owned by Alexander Glukhovskoi and his ex-wife, Julia Glukhovskaya. The Moscow Times was able to independently verify Glukhovskoi’s position through Imperial Mining’s website and a Florida public records search. According to Aftenposten, the nefarious nature of Imperial Mining should have been clear to the EBRD. Glukhovskoi had fled Moscow in 2005 after being charged with fraud and threats and was put on Interpol’s wanted list that same year. In 2011, he was reportedly arrested in Thailand, which was where he was last seen.

 

 

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