A Belfast mailbox address has been used by account holders linked to a Russian money-laundering network.
As reported in The Irish Times, according to a leaked document seen by the paper, the Russian network has processed hundreds of millions of US dollars.
In a report filed by the Standard Chartered Bank of New York to the Financial Crime Enforcement Network (FinCEN), the network is said to have been used by “wealthy oligarchs, businessmen and criminals alike”.
The address in Belfast was identified as one of 16 “potential core companies” involved in 368 transactions found as a result of an investigation by the Standard Chartered bank.
The report, dated April 20th, 2017 states that over $160.4 million (€136.7 million) passed through the 16 companies between June 2008 and May 2014.Drayscott Overseas LLP of 21 Botanic Avenue, Belfast was registered in 2013 before being dissolved two years later without ever submitting accounts to the UK’s Companies House.
It had two registered members, both companies registered in the Marshall Islands, but the identities of the owners are not known.
The address in Belfast belongs to Mail Boxes Etc, who offer mailbox services and the use of their building as the registered address of companies for £385 (€418) a year.
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