In particular the activities of IOS Group, a Latvian-Irish company formation business comes under scrutiny.
"For almost 30 years, IOS Group created shell companies for international clients, playing a major, though apparently passive, behind-the-scenes role in multiple high-profile money laundering cases," writes OCCRP.
"IOS Group’s shell company business also laid the administrative foundation for the Troika Laundromat, a massive financial scheme set up and controlled by Troika Dialog, once Russia’s largest private investment bank. The Laundromat shuffled billions of dollars through offshore companies on behalf of Troika’s clients, many of whom were members of Russia’s elite," it continues.
Last year OCCRP blew the lid on the scheme in an expose. The full findings and the implications for direct and indirect Latvian involvement in massive international money-laundering schemes can be read at OCCRP's website.
NEW: We’re publishing a new investigative package on the #TroikaLaundromat, the vast financial scheme we revealed in March that allowed Russian elites, including oligarchs, politicians, and criminals, to channel billions of dollars out of the country. /1 pic.twitter.com/GMtSZQBiZ6
— OCCRP (@OCCRP) May 15, 2019
