Britain targets property of Russian oligarchs in London

Britain targets property of Russian oligarchs in London
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Now Britain is keeping a close watch on the elite real property and luxury goods belonging to Russian oligarchs in the UK, The Daily Express reports.

In particular, the British authorities are interested in the money the wealthy Russians used to purchase these luxury items and expensive real properties. Allies of Russian President Vladimir Putin invested millions in the London market of the profitable real estate and sent their children to study in the best private schools in England, the article says.

Meanwhile, in recent years, British investigators have increasingly resorted to such an instrument as an  “unexplained wealth order,” which allows them to arrest assets such as houses, luxury apartments or yachts, in the event that a rich person does not give reliable information about how exactly his money had been earned. This tool will help the UK to more effectively combat money laundering carried out through the purchase of the elite real estate in London and other UK cities.

According to the available data, Russians account for 729 million of the 4.4 billion pound sterlings of the value of the real estate purchased with the use of a “suspicious wealth”. As reported by The Daily Express, currently, the British National Crime Agency is building about 140 such cases, many of which are against the Russian citizens.