Kleptocracy Weekly – July 9-15, 2016


A senior U.S. Treasury official openly called on Congress to curtail the use of shell companies, citing their role in organized crime and terror financing. A new report revealed how shell companies are used to steal from the U.S. military procurement budget.

HSBC escaped U.S. money laundering charges only after the UK government warned of economic consequences. Washington PR firms scooped $2.1 million as South Sudan slides back into civil war.

More than $12 billion disappears from Ukraine’s budget annually – is reform possible under Petro Poroshenko? Chinese investments may undermine Ukraine’s future stability.

Putin’s cronies control one-fifth of Russia’s economy. Alexei Navalny accused Igor Shuvalov, Russia’s Deputy PM, of using an undeclared $62 million private jet. Spanish authorities arrested 11 Russian and Ukrainian individuals for money laundering.

Donald Trump was named in a $250 million tax fraud lawsuit against Russian mobster, Felix Sater.

Increased scrutiny of all-cash transactions helped slow NYC’s luxury real estate market. British MPs say measures to prevent £100 billion being laundered through UK property annually are “totally inadequate.” The Canadian government launched a probe into illicit foreign cash in Vancouver’s housing market. China’s state-owned enterprises were ordered to invest in Australian property.

A jailed banker provided insights into how the Bakiyev family rules Kyrgyzstan. Mukhtar Ablyazov, Kazakhstan’s best-known political exile, has been linked to 600 offshore firms.

China censors removed online references to a rare beetle named after President Xi Jinping, in honor of his anti-corruption campaign.