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You're reading: Investigation: London complex with Ukrainian billionaires shows ‘blatant’ secrecy
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Most of the 72 hyper-luxury apartments at One Hyde Park, where Ukraine’s mega-billionaire Rinat Akhmetov has keys to a residence, have been bought in the name of anonymous, offshore entities to protect their owners’ identity.

This presents the “most blatant case” of British Virgin Islands secrecy in Britain, according to a joint investigation by the London Guardian newspaper and the ICIJ.

The investigation found that registering the apartments at One Hyde Park, which cost from $4.8 million to $217 million, in the British Virgin Islands – a tiny Caribbean nation of a little more than 27,000 people – was a win-win solution for their foreign owners who, according to the Guardian, some would call “the obscenely rich.” The offshore zone enabled their foreign owners to not only avoid British capital gains and inheritance tax, but also the attention of tax authorities in their own countries.

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