The Azerbaijani Laundromat

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http://maltawinds.com/2017/09/10/the-azerbaijani-laundromat/

Journalists working with the Organised Crime and Corruption Reporting Project have uncovered a major money laundering scheme coming out of Azerbaijan. The scheme was exposed after a leak of information from the Estonian branch of Danske Bank was passed to the Danish newspaper Berlingske, which then worked with the Organised Crime and Corruption Reporting Project on the story. The scheme involved moving money though a series of shell companies in order to hide the identities of the people behind the cash. They believe that the beneficiaries are members of Azerbaijan’s ruling elite.

Of course, one of the key jurisdictions used in the scheme was Tax Haven UK. The people behind the scheme used the notorious Scottish Limited Partnerships to hide the source of their money. These very same types of Scottish Limited Partnerships are used in a similar money laundering scheme coming out of Russia and previously exposed by the Organised Crime and Corruption Reporting Project.

The money itself ended up in a variety of organisations, including in the pockets of European politicians and football clubs as Azerbajan sought to improve its image overseas. The full story can be found here:

https://www.occrp.org/en/azerbaijanilaundromat/