A #UK firm has been found at the heart of a high-level fraud conviction in #Russia.

The #Magomedov brothers defrauded the Russian state of billions – via a Scottish limited partnership.

The role played by this Edinburgh-registered ‘ghost’ firm in the saga has once again highlighted how little scrutiny there is on thousands of offshore-owned UK corporate entities.

https://www.opendemocracy.net/en/odr/newbay-investments-magomedov-fraud-russia/

#fraud #offshore #companieshouse #regulation #embezzlement