Wednesday, January 17, 2018

How to Rob a Country


The problems with having an oligarch as a president is that they will steal as much money as they can while they are in power. The longer they remain in power the better they become at laundering their stolen money. This is particularly true of those oligarchs who are supported by Russia.

Take Viktor Yanukovich for example. As president of Ukraine from 2010-2014 he managed to steal billions of dollars using a global money laundering network. Al Jazeera has used documents recovered after the Ukrainian revolution to map how Victor Yanukovich was able to move his stolen money around the world.

The Oligarchs is an interactive story map which tracks the movements of the stolen money through shell companies in offshore tax havens and other money-laundering hotspots around the world, such as the UK. As you progress through the story map you can follow the trail of the money as it is laundered clean by being passed from bank to bank and tax haven to tax haven. None of the banks used, including those in the United States, flagged the money or its movements as suspicious.

Al Jazeera suggests that the money stolen from Ukraine by Victor Yanukovich is now being used to fuel dissent in Ukraine.
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