The Bulgarian businesswoman and other founders of the cryptocurrency that turned out to be yet another pyramid scheme were even able to complete luxury real estate transactions after the scandal had already broken. The reign of the “cryptoqueen” was short-lived, but it was, however, very lucrative. In 2014, Bulgarian businesswoman Ruja Ignatova launched OneCoin, a...
European parliamentarians are questioning whether the United Arab Emirates should have been taken off the “gray list” of countries at risk of money laundering and terrorist financing, following revelations that Dubai property owners include a host of dubious characters like drug lords and sanctioned businessmen. In mid-May, OCCRP and more than 70 international media outlets...
The Dubai Unlocked investigation reinforces the need for ongoing scrutiny of efforts by the United Arab Emirates (UAE) to prevent and detect dirty money being invested in the country, Transparency International said today. Authorities in the UAE should now investigate the revealed cases and take action if there is suspicion that properties were purchased with...
As the glittering skyscrapers of Dubai continue rising ever higher, new evidence shows this glitzy emirate has also constructed a massive offshore haven enabling some of the world’s most repressive regimes and drug cartels to shield wealth and escape consequences for human rights abuses. An in-depth investigation drawing on leaked property records and intelligence sources...
Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with...
Executives are talking up their net zero plans, but there’s a risk the gap between rhetoric and reality becomes too wide. The Abu Dhabi International Petroleum Exhibition and Conference, or Adipec, is the most oily event imaginable: acres of halls filled with people selling pipes, pumps and drill bits — everything you need to get fossil fuels out...
NEW YORK – As we move from UN Climate Week to COP28 in Dubai later this year, we must stop the “greenwishing” and “greenwashing” and start thinking about the instruments that will enable the private sector and private investors to channel more capital toward climate resilience and sustainable development. While the public sector has an...
Russia’s invasion of Ukraine and the ensuing raft of Western sanctions have prompted an explosion of interest in the United Arab Emirates (UAE) among Russians. Bilateral trade is breaking all previous records, and Russians are buying up real estate and opening businesses there. Yet for all the hope that the UAE could become an alternative...
“Dubai is much more free — in every way,” he said, sporting an intricately torn designer T-shirt at a cafe he just opened in the city, where his children are now in a British school. “We are independent of Russia,” he said. “This is very important.” A year into a historic onslaught of economic sanctions...