Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Britain Hints at Tougher Blow Against Russia: Stripping Tycoons' Assets
https://www.nytimes.com/2018/03/15/world/europe/britain-russia-assets-poisoning.htmlBritain Hints at Tougher Blow Against Russia: Stripping Tycoons’ Assets
By ELLEN BARRY | MARCH 15, 2018
...
On Wednesday, under pressure to display a tough response to the poisoning of the former spy, Sergei V. Skripal, Mrs. May promised to “freeze Russian state assets wherever we have the evidence that they may be used to threaten the life or property of U.K. nationals or residents.” She went on to say that investigators will crack down on “serious criminals and corrupt elites.”
“There is no place for these people — or their money — in our country,” she said.
Mrs. May has several tools available to challenge the legitimacy of Russian holdings. Just six weeks ago, Britain rolled out a new campaign to stem the flow of dirty money into its real estate sector, presenting an unnamed political figure, reportedly from Central Asia, with the first-ever “unexplained wealth order.” The order requires the target to present a court with evidence that the property was purchased with legal funds. If that fails, the state can seize the asset.
Unexplained wealth orders could most easily be used against government officials, whose incomes are clearly insufficient for them to purchase billion-pound London properties, said Ben Cowdock, a researcher at Transparency International. The orders would be difficult to use against wealthy businessmen with multiple income streams, he said.
“There is no place for these people — or their money — in our country,” she said.
Mrs. May has several tools available to challenge the legitimacy of Russian holdings. Just six weeks ago, Britain rolled out a new campaign to stem the flow of dirty money into its real estate sector, presenting an unnamed political figure, reportedly from Central Asia, with the first-ever “unexplained wealth order.” The order requires the target to present a court with evidence that the property was purchased with legal funds. If that fails, the state can seize the asset.
Unexplained wealth orders could most easily be used against government officials, whose incomes are clearly insufficient for them to purchase billion-pound London properties, said Ben Cowdock, a researcher at Transparency International. The orders would be difficult to use against wealthy businessmen with multiple income streams, he said.
3 replies
= new reply since forum marked as read
= new reply since forum marked as read
