News

Unreal Estate - Mihajlo Perenčević received millions of dollars from Russia under the guise of fictitious real estate purchases

16/01/2020

Family members and close associates of Mihajlo Perenčević, a wealthy Croatian businessman with ties to Russian President Vladimir Putin, received millions of dollars from Russia under the guise of fictitious real estate purchases.

The funds were deposited in the recipients’ personal bank accounts in Austria, thereby possibly evading Croatian money-laundering controls, taxes, and questions about their origins.

The exact source of the money is unknown. But the offshore company that made the payments is connected to a network that was used to launder funds stolen from the Russian state budget in the so-called “Magnitsky Case.”

The transfers to Perenčević’s family and associates took place just as that money was being funnelled out of Russia.

Reporters found the transactions — and some of the unfulfilled contracts that underpinned them — in a set of leaked records from Ukio Bankas.

The now-defunct Lithuanian bank was central to the Troika Laundromat, a vast money movement scheme that was revealed by OCCRP and its media partners last year.

The dozens of offshore companies that formed the Laundromat also used fictitious deals to justify large transfers of money out of Russia — and they also used Ukio bank accounts.

Read more here https://www.occrp.org/en/troikalaundromat/unreal-estate