Asiaciti_Trust

Asiaciti Trust

Asiaciti Trust

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Asiaciti Trust is an international financial company established in Hong Kong, with operations in Asia, the Americas, and the Pacific.[1] Its services revolve around corporate services, fiduciary matters, wealth protection, and administration.[2]

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Background

Asiaciti Trust was established in British Hong Kong in 1978.[3] The founder of Asiaciti Trust, Australian Graeme W. Briggs,[4] was formerly the international tax partner of Marquand & Co. He acquired the international operations of Marquand & Co in 1975. He was a founding Senator of the Offshore Institute.[5] Asiaciti moved its headquarters to Singapore in late 1984. In September 2020, Asiaciti Trust appointed Colin Porter as Group Managing Director. In the same year, Asiaciti Trust also appointed a new Managing Director for its New Zealand office, Kate Weiss.[6] In January 2021, Asiaciti Trust appointed a new Managing Director for its Singapore office, Ross Belhomme.[7]

Controversy

The company was associated with both the Paradise Papers data leak[8] and the Pandora Papers leak.[9][10][11] The Pandora Papers leaks revealed that the company helped Kirill Androsov, a former aide to Russian leader Vladimir Putin, set up offshore companies so that he could engage in transactions with Russian oligarch Oleg Deripaska.[12] The company helped fugitive Moldovan politician Vladimir Plahotniuc.[13]

See also

References

  1. [1]
    Desprat, Caroline; O’Leary, Madeline; Romera, Pierre; Vanza, Maxime; Cucho, Antonio; Escudero, Jesús; Torres, Mago; Ajiri, Denise Hassanzade; McGoey, Sean; Boland-Rudder, Hamish; Mustufa, Asraa; González, Jorge; Ladrón de Guevara, Javier; Hudson, Michael (May 3, 2022). "ICIJ publishes final batch of Pandora Papers data on more than 9,000 offshore companies, trusts and foundations". International Consortium of Investigative Journalists.
  2. [2]
    "Asiaciti Trust Appoints New MD for Singapore". finews.asia. January 11, 2021.
  3. [3]
    "Cally Ching on Building the Global Asiaciti Trust Proposition for North Asia Clients -Asian Wealth Management and Asian Private Banking". Asian Wealth Management and Asian Private Banking. 2021-06-08. Retrieved 2021-11-16.
  4. [4]
    ICIJ; Briefing, Background; Corners, Four; Christodoulou, ABC Investigations / By Mario; Worthington, Elise; Sveen, Ben (2021-10-03). "He made a $62m fortune keeping his rich clients' secrets. Now they are spilling out". ABC News. Retrieved 2021-10-03.
  5. [5]
    "Directory". HKET. Retrieved 15 August 2018.
  6. [6]
    "Creating a Robust Family Succession Plan that Embraces Governance, Tax & Compliance". Hubbis. 18 March 2021. Retrieved 3 May 2020.
  7. [7]
    "Asiaciti Trust Appoints New MD for Singapore". finews.asia. 11 January 2021. Retrieved 3 May 2020.
  8. [8]
    "Paradise Papers Exposes Donald Trump-Russia links and Piggy Banks of the Wealthiest 1 Percent". Icij.org. 5 November 2017. Retrieved 7 November 2017.
  9. [9]
    "Pandora Papers: An offshore data tsunami". ICIJ. 2021-10-03. Retrieved 2021-10-26.
  10. [10]
    Butler, Ben (2021-10-03). "Offshore provider accused of failing to follow money laundering rules". the Guardian. Archived from the original on 2021-10-03. Retrieved 2021-10-06.
  11. [11]
    Tang, See Kit (2021-10-06). "MAS examining information in Pandora Papers about Singapore-based Asiaciti Trust". CNA. Archived from the original on 2021-10-06. Retrieved 2021-10-06.
  12. [12]
    Miller, Greg. "How U.S. sanctions take a hidden toll on Russian oligarchs". Washington Post. Retrieved 2022-03-09.
  13. [13]
    "New Zealand moves to crack down on corporate secrecy after Pandora Papers - ICIJ". 2022-03-23. Retrieved 2022-03-24.
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