Tag: Christodoulos Vassiliades

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

Cyprus Ben - September 8, 2024

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

Finally: Western Sanctions Against Cypriot Professionals Resulted in 10,000 Frozen Bank Accounts!

Politics Ben - April 23, 2023

On April 12 and 13, the US and the UK included 13 Cypriot lawyers and accountants in their sanctions lists for facilitating Russian oligarchs. The measures are aimed to dismantle the financial networks of Roman Abramovich and Alisher Usmanov. 10,000 bank accounts and other assets belonging to their alleged “financial fixers” were frozen. The sanctions also signal (finally) that the Western allies will no longer look the other way when Cyprus breaks the sanction game's rules.

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