shell corporations

Latvian banks will be banned from offering services to shell companies, after the lawmakers in Riga on April 26 passed a ban on such practices by a vote of 57-17, with four abstentions. The ban is a response to the international scandal that erupted after US financial authorities charged ABLV, the ...

How a Mysterious Overseas Shell Company Used a Former GOP Congressman to Lobby Trump and Congress ... McKeon's work for Dorelita also highlights how lax US lobbying laws make it easy for foreign interests to use shell companies and front groups to push their agendas in Washington without ...

Under the bill, a shell company is defined as an entity that fits one or several of the following three criteria. Firstly, it carries out no actual economic activity and has no documentary proof to the contrary. Secondly, the entity is registered in a jurisdiction where companies are not required to submit to the ...

In 2005, the shell company — Capitol House L.L.C. — sold the property for $95,000 more than it had paid. While shell companies are legal, they often obscure the people who have an interest in them, and none of Mr. Pruitt's financial disclosure filings in Oklahoma mentioned the company or the proceeds ...

The tape is real and we, The Shell Corporation, as patriotic Americans, feel it is our civic doodie to leak it. How we came to have this in our possession is no ones concern. Just sit back and let us shower you with our golden revelations.” “Kumbaya” is taken from The Shell Corporation's latest album Fucked, ...

(CNN) -- EPA chief Scott Pruitt purchased a house in 2003 from a retiring lobbyist through a shell company registered to a business partner who now holds top political job at the agency The New York Times reported Saturday. As a state senator in 2003, Pruitt became an owner of an Oklahoma City house ...

The government is intensifying its drive against shell companies. After taking action against 226,000 shell companies last year, the Ministry of Corporate Affairs has now zeroed in on another 225,000 suspected shell companies. The ministry has sent notices to these companies, asking whether they had ...

SEHK: Warning to sponsors on shell companies. IFR Asia 1037 - April 21, 2018. This content is only available to IFRAsia.com subscribers. This content is available to IFRAsia.com subscribers. Please login if you have a subscription. Alternatively, you can request a trial , or contact your IFRAsia account manager for more ...

The report blames Swiss financial institutions for turning a blind eye to suspicious transactions in the Brazilian Petrobras bribery scandal. (Keystone). Switzerland is lagging behind in the fight against the abuse of anonymity provided by companies and trusts, which is often used to commit financial crimes.

The bill says banks will have to cease cooperation with shell companies within 14 days and close their accounts within 60 days. Following this period, these clients will be able to retrieve the money to their accounts in the holder bank or another one, but the clients will not be able to use this money for ...

West coast punk rock band The Shell Corporation has released a new video for their song "Kumbaya." The song comes from their album Fucked, which was released earlier this year via La Escalera Records. Watch the video below. (NSFW) ...

Michael Cohen, President Donald Trump's personal lawyer, used the same Delaware shell company to pay off two women over alleged affairs with his clients, the Wall Street Journal reported Sunday night. It was through the company, Essential Consultants, that adult-film actress Stormy Daniels was paid ...

Many companies that had been struck off from the register of companies, following their identification as “shell companies”, have now approached the National Company Law Tribunal (NCLT) demanding that their names be incorporated again in the register of companies. In the latter part of last year, the ...

Under the draft law, the shell company is defined as an entity that fits one or several of the following three criteria. Firstly, there is no actual economic activity and no documentary proof to the contrary. Secondly, the entity is registered in a jurisdiction where companies are not required to submit to the ...

When Mark Zuckerberg told US senators yesterday (April 10) that Facebook is in an “arms race” against Russian trolls seeking to manipulate its users, his comment made global headlines. One of the steps Facebook is taking to stop US elections from being manipulated by foreign actors is to put in place ...

As reported, the Finance Sector Development Council chaired by Latvian Prime Minister Maris Kucinskis on March 21 supported banning of shell companies in Latvia. Finance Minister Dana Reizniece-Ozola (Greens/Farmers) said that the purpose of banning shell companies was to make the Latvian ...

In a lawsuit filed Friday, the U.S. Securities and Exchange Commission claims that Liberty, his wife, his Portland lawyer, his cousin and a friend of the cousin's have used shell companies to run a long-term scam that drew in millions through fraudulent securities offerings for a technology company and ...

Two years ago we published the Panama Papers after an anonymous source provided 2.6 terabytes of internal data from the dubious Panamanian law firm of Mossack Fonseca. We shared the data with 400 journalists worldwide and together revealed how the wealthy and powerful use shell companies to ...

Chris is the former news anchor for KENS 5-TV in San Antonio. He commanded the anchor chair from 1973 to 2009. He consistently was lauded by the Associated Press for best news-writing awards and was a viewer favorite. He was inducted into the Texas Emmy Silver Circle in 2010. Chris also has a law ...

The work of trust and company service providers, plus the use of shell companies and alternative banking platforms all feature in the New Zealand Police Financial Intelligence Unit's (FIU) 2018 National Money Laundering and Terrorism Financing Risk Assessment. The report notes that overseas criminals ...

NEW DELHI: A Parliamentary panel has asked the government to define "shell company" in the Companies Act and ensure distinction between those guilty of ... "Therefore, it is necessary that while cracking down on shell companies, the ministry needs to make distinction between those guilty of fraud and ...

The Bihar-Jharkhand income tax (I-T) department has initiated action against 3,500 shell companies through which more than Rs 1,000 crore, owned by individuals, was routed to evade taxes. The department found that the beneficiaries got their money back from these shell companies through share ...

Crossroads Systems Inc. has relaunched with the acquisition of a community development financial institution focused on the Hispanic mortgage market, taking a $344,000 net loss in its fiscal first quarter. Crossroads, the successor to a bankrupt intellectual property licensing business, now is operating ...

President Trump's real estate sales have gotten much more secretive since he won the Republican nomination in 2016, with the majority of buyers now using limited liability companies to hide to-be owners' names, a USA Today investigation has found. In the two years before Trump was nominated, just 4 percent of buyers ...

The Enforcement Directorate (ED) has found out that a majority of the shell companies used to launder money in PNB scam belong to Mehul Choksi of Gitanjali Group. The investigation, which is progressing at a brisk pace, seems to suggest that Mehul Chokis is a bigger crook than billionaire jeweller Nirav ...

Unofficial investigations into money laundering at defunct cryptocurrency exchange Mt. Gox alleged that a UK “shell” company was involved in laundering 650,000 BTC (equal to about $6.9 bln at press time) March 7. According to an expose by File On 4, a program on the BBC's news and current affairs ...

It's a complicated story of international political skullduggery with a dizzying plot: A year ago, a sketchy Scottish firm called Biniatta Trade, which was formed by two Belize-based shell companies, paid a Republican lobbyist and former Trump campaign aide named Nick Muzin for work in the United States to ...

"Secrecy World" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies. ... In the beginning, that's a great business model, right, because all you're doing is you create this anonymous shell company, you give it a name, you don't care who actually is ...

Coming off a successful year hosting a Super Bowl and thousands of flood refugees, Houston's convention bureau Houston First has a new leader. As she takes over, she faced tough questions about the secret way Houston First used millions of public dollars to pay its own employees. Houston First ...

"The agency is investigating 79 shell companies owned by the Gitanjali Group chief and 41 owned by Modi in India," an ED official told IANS on the condition of anonymity, adding that the agency is examining if the money taken from banks was diverted to these shell companies. Citing ED officials, the IANS ...

TIRANA, Feb. 20 (Xinhua) -- The Albanian government and the Royal Dutch Shell, an international leading hydrocarbon company, signed here on Tuesday an oil exploration deal which foresees major investments in Block 4 in southern Albanian mountain of Shpirag, Berat. Under this deal, Shell plans ...

Sharone Perlstein, Aric Swartz and Hadas Yaron are accused of creating at least 15 shell companies that were set up with phony business plans and management. Some of the companies issued initial public offerings. While making it appear otherwise, in reality the three remained in control of the ...

JACKSONVILLE, Fla. - Two Honduran citizens have pleaded guilty to creating shell companies in Central Florida that allowed construction contractors and subcontractors to hire mostly undocumented aliens and skirt paying payroll taxes and workers' compensation insurance, federal prosecutors ...

One of Scotland's biggest law firms headquartered hundreds of shell companies that have broken anti-money laundering laws, calling into question the effectiveness of British corporate law, The Herald reported on Monday. The Scottish limited partnerships (SLPs) - which are legitimate investment vehicles ...

Sean Hannity Linked to Shell Companies That Spent $90M on Properties: Report. Error loading player: ... A closer examination into the relationship between Fox News host Sean Hannity and longtime Trump-fixer Michael Cohen reveal an extensive real estate empire through a group of shell companies. Nathan Rousseau ...

As a state senator in 2003, Pruitt became an owner of an Oklahoma City house held by a shell company registered under the name of a business partner and law school friend, Kenneth Wagner, the Times reported, citing a review of real estate and other public records. Wagner is now a senior adviser for ...

According to documents reviewed by The Guardian, Hannity bought real estate through more than 20 shell companies registered in Georgia. A shell company is a vehicle used to hold assets and can help beneficiaries remain anonymous. They are not in themselves illegal, though they are sometimes used ...

"It is planned, with a new article in the law, to stipulate a ban for credit institutions, payment institutions, investment broker associations and...investment management associations to cooperate with shell bodies or shell companies that fit certain criteria," the Finance Ministry said. These criteria include having ...

The banking regulator's spokeswoman informed that shell companies account for 36.57% of the Latvian banks' incoming payment turnover, while their share in the non-resident segment is 44.5%. “The share of these companies can be estimated in terms of loan turnover, income and assets. We estimate it ...

The city of Houston created a shell company to pay Houston First employees, keeping the public from knowing how many people were on the payroll and from knowing how large the payroll was. Houston First Corporation, created in 2011, is the quasi-governmental agency to spin off the city's tourism ...

In separate lawsuits, a handful of shell companies that trace to Los Angeles are being sued for creating phony property deeds, posing as the owners of distressed homes. The fabricated deeds were mainly for single-family homes in Southern California, including homes in West Adams/Baldwin Hills, Pacific ...

The cabinet on Friday gave its approval to junior finance minister Menno Snel's plan to crack down on the shell company industry in the Netherlands in line with international and EU agreements. 'We are going to make serious work of tackling letter box firms,' Snel said after the weekly cabinet meeting.