Tuesday, 22 September 2020

US Dealers named in Money Laundering Report

Kapoor accused

Data from the Financial Crimes Enforcement Network (FinCEN), the US regulatory agency for enforcing money laundering laws, provide a glimpse into the network of companies and individuals trading with antiques dealer Subhash Kapoor. The data show that dealings of stolen artefacts and transactions continued years after the arrest of the alleged kingpin (Shyamlal Yadav, 'FinCEN Files — Antiques smuggler in Tamil Nadu jail, and a trade that flourished even after his arrest' Indian Express September 23, 2020). US Antiquities dealer Nancy Wiener was named in FinCENFiles for suspect Nepal transactions worth $27 million between 2010-2017. This is the same gallery that sold a stolen 16th-century bronze from Nepal in 2010 and transferred the payment to Pantheon Worldwide in Hong Kong. Some of the transactions were linked to Subhash Kapoor [Indian national and the 'Art of the Past' Gallery owner in New York, who imported artefacts from India to the United States and was arrested by Interpol in 2011 at Frankfurt airport, was extradited to India in July 2012 and is now in a Tamil Nadu jail still awaiting trial].

According to the Suspicious Activity Report, a firm called Pantheon Worldwide Limited, with two listed addresses, one each in the UK and Hong Kong, had extensive financial links with Kapoor and his alleged business partners. Pantheon had several transactions with the Nancy Wiener Gallery, and also received a payment from Nancy Weiner. The Suspicious Activity Report stated: “It is unclear why Weiner conducted a personal remittance to Pantheon for USD 150,000, nor the purpose of the funds.” The Suspicious Activity Report stated that Pantheon utilised its three accounts at Standard Chartered Bank, Hong Kong for the transactions. The UK company registry data show that a company of a similar name was incorporated on July 18, 2016 and dissolved on September 4, 2018. The accounting firm that established the company said that the UK-based Pantheon had never dealt in antiquities — or anything else for that matter. “To the best of my knowledge, the company never traded at all,” a spokesperson for PRB Accountants told ICIJ.


No comments:

Creative Commons License
Ten utwór jest dostępny na licencji Creative Commons Uznanie autorstwa-Bez utworów zależnych 3.0 Unported.