£38M SUPERYACHT OWNED BY RUSSIAN OLIGARCH SEIZED IN LONDON, FLYING THE MALTESE FLAG, TO CONCEAL OWNERSHIP

 

The yacht PHI

The National Crime Agency (NCA) has reported that it obtained authorization to seize the yacht "PHI," and took it into custody this week. Owned by an unnamed Russian Oligarch, it represents the first super yacht seized in the UK under government policies aimed at removing obscenely expensive vessels and aircraft from the hands of the oligarchs, who support and maintain Russia's Vladimir Putin in power.

Apparently, a corporate entity in St Kitts & Nevis has title to the vessel, but the authorities were able to identify the Oligarch as the beneficial owner after conducting an investigation. The most disturbing aspect of the story is the Maltese registry, which indicates that this specific Oligarch was doing business in Malta. 

The fact that the Phi was flying the Maltese flag, in an effort to hide true ownership, confirms that Malta is the jurisdiction of choice for every corrupt Russian Oligarch who seeks to hide his assets, with the ready assistance of Malta's amoral offshore financial service providers. We are checking to see whether any of the other yachts seized in other European countries, in the grounds of Oligarch ownership, also fly the bloody Maltese flag.

 

The Banner of the Damned