Seychelles offshore firm shuts down after Pandora Papers investigation

Russian oligarchs with close ties to Vladimir Putin are trying to get back $400 million in stolen money via a letterbox company in Maastricht. This is according to research by The Investigative Desk, with which this site collaborates. According to experts, the attempt is not even hopeless, they say.

The investigators would be interested in an agreement between this Russian oligarch and the French tax administration in 2019.

The Ministry of Economy and Finance was raided on Thursday 27 March as part of an investigation for money laundering against a Russian billionaire. Luxury villas on the French Riviera would be affected.

Souleïman Kerimov, a Russian oligarch subject to European sanctions, is suspected "that several luxury villas have been declared under nicknames in order to conceal the true owner of Russian nationality", announces the Paris Public Prosecutor's Office.

In the context of a judicial procedure for money laundering, investigators are seeking to find out under what conditions Suleiman Kerimov and the tax administration have negotiated an agreement allowing the Russian oligarch to terminate a dispute.

The specialized jurisdiction against organized crime investigates real-estate money laundering operations. Luxury villas located on the French Riviera are of particular interest to agents.