Complex systems of secrecy: the offshore networks of oligarchs.

ABSTRACT: Following the invasion of Ukraine, the USA, UK, and EU governments-among others-sanctioned oligarchs close to Putin. This approach has come under scrutiny, as evidence has emerged of the oligarchs' successful evasion of these punishments. To address this problem, we analyze the role of an overlooked but highly influential group: the secretive professional intermediaries who create and administer the oligarchs' offshore financial empires. Drawing on the Offshore Leaks Database provided by the International Consortium of Investigative Journalists (ICIJ), we examine the ties linking offshore expert advisors (lawyers, accountants, and other wealth management professionals) to ultra-high-net-worth individuals from four countries: Russia, China, the USA, and Hong Kong. We find that resulting nat

SUBMITTER: Chang HH 

PROVIDER: S-EPMC9998034 | biostudies-literature | 2023 Mar

REPOSITORIES: biostudies-literature