Superyachts and private schools: Britain's dirty money problem

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Russian money – some legitimate, some the proceeds of fraud – was channeled through a Lithuanian bank into the UK, according to a major leak of banking documents. The Guardian’s Juliette Garside has been investigating for months and describes how Prince Charles and some of England’s most exclusive schools have benefited. Plus: Ben Beaumont-Thomas on the legacy of the Prodigy’s Keith Flint

The leak of more than 1m bank transactions has shown how an estimated $4.6bn (£3.5bn) was sent to Europe and the US from a Russian-operated network of 70 offshore companies with accounts in Lithuania.

The Guardian’s Juliette Garside has been investigating the network and where the money ended up. She tells India Rakusen that money linked to major Russian fraud cases was laundered with funds from legitimate enterprise, making it impossible to trace the original source. It could then be spent on luxury goods, private school fees and property.

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Source: russia
Link : Superyachts and private schools: Britain’s dirty money problem

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