<p>An offshore firm has been revealed to have assisted in creating companies for members of Vladimir Putin’s inner circle, concealing true ownership through UK partnerships. Seychelles-based Alpha Consulting formed over 900 UK partnerships that used a secrecy loophole. One partnership was involved in operating an oil tanker that violated sanctions, while others were implicated in crimes. Alpha Consulting’s services also benefitted the late mercenary boss Yevgeny Prigozhin, concealing ownership of his private jet and yacht. The firm helped create partnerships involved in alleged fraud and interfering in foreign elections. The investigation, conducted by the BBC, Finance Uncovered, and the Seychelles Broadcasting Corporation, analysed internal documents and company records to identify beneficiaries of Alpha’s work. Alpha Consulting is known for exploiting a loophole in UK law by setting up limited partnerships to evade transparency regulations. The UK government has previously failed to address this loophole, which has been linked to fraud, terrorism, and money laundering. One partnership facilitated the acquisition of an oil tanker that caused environmental damage after it was wrecked, with the true owner remaining unidentified. The investigation also uncovered partnerships involved in operating oil tankers that breached sanctions.</p>
Exposing the Dark Side: Unraveling Criminal Exploitation of UK’s Secrecy Loopholes
