“MASSIVE INVESTIGATION” TO PINPOINT OWNERSHIP OF SUPERYACHT
Released On 29th Nov 2022
The US, UK and European Governments have been trying to find proof that the owner of one of the world’s most opulent yachts, the Amadea, is Russian oligarch, Suleiman Kerimov.
In March, the US and its allies set up a special group called REPO (Russian Elites, Proxies, and Oligarchs) to seize the assets of Russian oligarchs.
Since the beginning of the Russian invasion of Ukraine, Western Governments have seized more than 12 yachts linked to oligarchs, with a combined valuation of at least $4 billion.
However, as one of the investigators commented, tracking down a superyacht’s true owner can be “extremely difficult”. This is because ownership is often hidden behind shell companies and trusts, registered in countries where information is “tightly controlled” and not something that the authorities can always easily access.
This is despite the fact that these yachts are hardly inconspicuous. For example, the Amadea boasts not only a helipad but also a 10-metre mosaic-decorated infinity pool, two pianos, a gym and what could potentially be a priceless Fabergé egg.
In addition, there appears to be no shortage of money for the alleged owners to defend the claims and when the Amadea docked in Fiji, a local lawyer intervened on behalf of a company that is formally registered as the superyacht’s owner, claiming that a different oligarch, Eduard Khuadainatov, who is not under sanctions in the US, owns the yacht.
Roger Isaacs, Forensic Partner at Milsted Langdon, said: “The sanctions placed on Russian oligarchs before and following the invasion of Ukraine have led to countless investigations worldwide.
“A wide range of experts, including forensic accountants, have been involved in trying to establish the ownership of assets. Proving ownership of any asset that has been carefully hidden is not easy and necessitates thorough investigation. This often involves interviewing witnesses, as well as scrutinising bank records and other financial documentation from around the world.”
Source(s): BBC News
