How Western Firms Quietly Enabled Russian Oligarchs

[Nevilledog]

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Kenneth P. Vogel
@kenvogel
NAMING NAMES: Russian oligarchs have handsomely paid US firms to protect/grow their fortunes, & avoid bad press + legal & political trouble.

These arrangements often aren't publicly disclosed.

In this story, we spotlight some of the enablers.

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Roman Abramovich, center, before a meeting with the Russian president Vladimir V. Putin in 2017.
nytimes.com
How Western Firms Quietly Enabled Russian Oligarchs
Investment, law and lobbying firms have helped enmesh Kremlin-linked oligarchs into the Western financial and legal systems.
8:42 AM · Mar 9, 2022

https://www.nytimes.com/2022/03/09/business/russian-oligarchs-money-concord.html

No paywall
https://archive.ph/Jxa2N

Behind a set of imposing metal doors in an easy-to-miss office building in a New York City suburb, a small team manages billions of dollars for a Russian oligarch.

For years, a group of wealthy Russians have used Concord Management, a financial-advisory company in Tarrytown, N.Y., to secretly invest money in large U.S. hedge funds and private equity firms, according to people familiar with the matter.

A web of offshore shell companies makes it hard to know for sure whose money Concord manages. But several of the people said the bulk of the funds belonged to Roman Abramovich, a close ally of President Vladimir V. Putin of Russia.

Concord is part of a constellation of American and European advisers — including some of the world’s largest law firms — that have long helped Russian oligarchs navigate the Western financial, legal, political and media landscapes.

Now, with U.S. and European sanctions targeting those close to Mr. Putin, firms are wrestling with what to do with these lucrative but controversial clients.

*snip*

[flying_wahini]

1. This and offshore accounts need to be scrutinized and 'managed' for these crooks.

[Baked Potato]

2. These liaisons have also enabled the US to surgically strike with sanctions.

The systems in place worldwide have enabled Allies to cripple a rogue country.

[DanieRains]

3. Turn Over All Your Records Or Go To Prison

Follow the money. Seize the assets, and sell them to fund aid to Ukraine.