Asiaciti Trust

Asiaciti Trust is an international trust and corporate services company.[1] The Pandora Papers leaks revealed that the firm created shell companies, trusts and other secretive financial products in tax havens for hundreds of clients.[2][3][4]

Asiaciti Trust
IndustryFinancial services
Founded7 July 1978
FounderGraeme W. Briggs
Headquarters
Singapore
Area served
Worldwide
Services
Websitewww.asiacititrust.com

Background

Asiaciti Trust was established in British Hong Kong in 1978.[5] The founder of Asiaciti Trust, Australian Graeme W. Briggs,[6] was formerly the international tax partner of Marquand & Co. He acquired the international operations of Marquand & Co in 1975. He was a founding Senator of the Offshore Institute.[7] Asiaciti moved its headquarters to Singapore in late 1984. In September 2020, Asiaciti Trust appointed Colin Porter as Group Managing Director. In the same year, Asiaciti Trust also appointed a new Managing Director for its New Zealand office, Kate Weiss.[8] In January 2021, Asiaciti Trust appointed a new Managing Director for its Singapore office, Ross Belhomme.[9]

Controversy

The company was associated with both the Paradise Papers data leak[10] and the Pandora Papers leak.[11][12][13] The Pandora Papers leaks revealed that the company helped Kirill Androsov, a former aide to Russian leader Vladimir Putin, set up offshore companies so that he could engage in transactions with Russian oligarch Oleg Deripaska.[2][14] The company helped fugitive Moldovan politician Vladimir Plahotniuc.[15]

See also

References
  1. "Specialists to thrive as clients seek compliance". Hubbis. Retrieved 14 August 2018.
  2. "How a network of enablers have helped Russia's oligarchs hide their wealth abroad - ICIJ". 2022-03-02. Retrieved 2022-03-09.
  3. "Russian bankers shuffled personal wealth offshore long before latest sanctions, Pandora Papers show - ICIJ". 2022-04-11. Retrieved 2022-04-11.
  4. "Who helps Russian oligarchs secretly buy jets, yachts and other luxury playthings? - ICIJ". 2022-04-11. Retrieved 2022-04-12.
  5. "Cally Ching on Building the Global Asiaciti Trust Proposition for North Asia Clients -Asian Wealth Management and Asian Private Banking". Asian Wealth Management and Asian Private Banking. 2021-06-08. Retrieved 2021-11-16.
  6. ICIJ; Briefing, Background; Corners, Four; Christodoulou, ABC Investigations / By Mario; Worthington, Elise; Sveen, Ben (2021-10-03). "He made a $62m fortune keeping his rich clients' secrets. Now they are spilling out". ABC News. Retrieved 2021-10-03.
  7. "Directory". HKET. Retrieved 15 August 2018.
  8. "Creating a Robust Family Succession Plan that Embraces Governance, Tax & Compliance". Hubbis. 18 March 2021. Retrieved 3 May 2020.
  9. "Asiaciti Trust Appoints New MD for Singapore". finews.asia. 11 January 2021. Retrieved 3 May 2020.
  10. "Paradise Papers Exposes Donald Trump-Russia links and Piggy Banks of the Wealthiest 1 Percent". Icij.org. Retrieved 7 November 2017.
  11. "Pandora Papers: An offshore data tsunami". ICIJ. 2021-10-03. Retrieved 2021-10-26.
  12. Butler, Ben (2021-10-03). "Offshore provider accused of failing to follow money laundering rules". the Guardian. Archived from the original on 2021-10-03. Retrieved 2021-10-06.
  13. Tang, See Kit (2021-10-06). "MAS examining information in Pandora Papers about Singapore-based Asiaciti Trust". CNA. Archived from the original on 2021-10-06. Retrieved 2021-10-06.
  14. Miller, Greg. "How U.S. sanctions take a hidden toll on Russian oligarchs". Washington Post. Retrieved 2022-03-09.
  15. "New Zealand moves to crack down on corporate secrecy after Pandora Papers - ICIJ". 2022-03-23. Retrieved 2022-03-24.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.