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Official UK investigation of $100 billion laundered via Scottish Limited Partnerships ignores all proof / Boing Boing

Scottish Limited Partnerships are infamous monetary secrecy gear which have been used to launder an estimated $100 billion on behalf of ex-Soviet gangster-oligarchs.

An explosive set of courtroom rulings, regulatory warnings, reputable warnings from different countries (America, Canada, France, Belgium, Italy, Israel and Cyprus), a Council of Europe investigation and a UN blacklisting in any case led the United Kingdom Department for Business, Energy & Industrial Strategy to open an investigation, helmed through the now-disgraced, former Business Minister Andrew Griffiths, who, from the beginning, signaled that he didn’t take the allegations critically.

Nearly a year later, the dep. has revealed its proposed reforms, which can do just about not anything to kerb money-laundering via SLPs.

As Richard Smith explains, the investigation consisted totally of responses to a “call for evidence,” however didn’t bear in mind the huge amount of reputable documentation of money-laundering already within the file. The call for proof drew 29 responses from other people “the vast majority of which said that they could not offer evidence which definitively links LPs, in particular in their Scottish form, to criminal activity” (or, as Smith places it, “the views of twenty-odd unnamed respondents, all of whom say they know absolutely nothing about the question they are answering”).

Smith has rounded up a suite of hyperlinks to the voluminous reporting on SLP money-laundering, none of which have been considered through the Department in getting ready its record.

Unless you might be aware of UK-Governmental evidence-gathering processes, chances are you’ll to find BEIS’s evidence-filtering solution to be unusually competitive. It would no doubt had been useful of BEIS to explain precisely what it supposed through ‘evidence’, before soliciting it, after which ignoring the proof that it did get, however that’s no longer how BEIS rolls.

Mind you, BEIS’s definition of ‘evidence’ would had been difficult to state explicitly, since it’s obviously each reasonably exacting (ignoring all the ones international companies), but on the identical time, extraordinarily liberal (foregrounding the perspectives of twenty-odd unnamed respondents, all of whom say they know completely not anything concerning the query they’re answering).

This dogged obliviousness continues to be extra putting when one surveys the remaining 3 years of SLP press protection. All of the above tales, and lots of extra, nonetheless creating, are in my linkfest underneath, which paperwork the involvement of SLPs in some $100Billion of alleged or court-proven fraud, grand corruption and cash laundering, in lower than a decade.

I’ve installed as many unfastened assets as I could to find, however a large number of the heavy lifting has been finished through the Scottish Herald, whose reporters’ youngsters rely on a paywall for his or her day-to-day bread. You do get 5 unfastened tales, despite the fact that, so that you could pick out sparsely. Alternatively, a month’s Herald subscription, which might show you how to learn the entirety, is handiest seven quid.

The UK’s Reform of Limited Partnership Law: Dead on Arrival (I) [Richard Smith/Naked Capitalism]


Cory Doctorow

I write books. My newest are: a YA graphic novel referred to as In Real Life (with Jen Wang); a nonfiction ebook concerning the arts and the Internet referred to as Information Doesn’t Want to Be Free: Laws for the Internet Age (with introductions through Neil Gaiman and Amanda Palmer) and a YA science fiction novel referred to as Homeland (it is the sequel to Little Brother). I discuss everywhere and I tweet and tumble, too.


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