The ANSWER - to the above - can be found at the bottom of this update if you want to skip down but I really hope you will take one minute to read my rantings & ramblings.
Most importantly a huge – THANK YOU – to you my friends, Old & New.
You have my immense gratitude for getting my petition to over 200 signatures, a great benchmark on Change.Org. I am greatly moved and humbled by your interest. Even as I wrote this Update a further …………..26……………… signatures have appeared all thanks to you stars for referring it to friends and families on various platforms.
Our next target is to pass 500 signatures, which would be amazing as we do our humble best to help the poor people of the Ukraine against that bullying madman Putin.
So what is the latest news on the seizure front?
To that end I have updated an old joke that over various decades was applied to Nazi Germany, Zimbabwe, Uganda, Haiti, Bolivia and so many others with corrupt regimes. Here goes for the 2000s:-
“Where is the Capital of Russia?”
Answer: - “In A Swiss Bank!”
To which I can add my own twisted sequel: -
“What is the Capital of Russia?”
Answer: - “About 1 rouble!”
Don’t worry about me – I will not be giving up my day job!
Anyway that gag, weak but true as it was, allows me to slide smoothly into the news from Switzerland.
Like the curate’s egg it is partially good, partly bad.
Despite being the most legendary keeper of financial secrets for the unsavoury of the world the Swiss authorities have surprisingly announced that they have identified and frozen US$ 6 billion of property assets and bank accounts owned by Russian oligarchs.
That is a hell of a lot of chocolate and cuckoo clocks!
For the secretive Swiss this is a big move and a huge sum of money in 99% of the world’s population’s eyes.
The slightly bad news is that Russian oligarchs are estimated to have over US$ 200 billion (greater than the Gross Domestic Product of 139 of our world’s countries, including New Zealand!) deposited in Swiss Banks.
However, I am nothing but an optimist so I am going to say that they have seized 3% of their eventual target. Like this petition it is going to start small and gain momentum – generated by you kind people – then it will go large, very, very large.
As you know seizure is only the first step of the process that we are advocating –IN OUR PETITION WE WANT THOSE SEIZED ASSETS TURNED INTO CASH OR IF ALREADY IN A BANK ACCOUNT TO BE SENT STRAIGHT AWAY TO SUPPORT THE SUFFERING PEOPLE OF THE UKRAINE DIRECTLY OR THROUGH AID AGENCIES IN COUNTRIES TAKING IN THE DISPLACED FROM THIS ILLEGAL WAR.
If you want to get a mental image of how much this could help the Ukrainian people at this time consider that if the full US$ 200 billion is confiscated in Switzerland and directed as we advocate – the total Gross Domestic Product of the Ukraine in past years is roughly US$ 112 billion which is only 56% of the money these oligarchs has squirreled away under the Alps.
Imagine the impact that could make on those refugees who have lost everything in the short term or even later on rebuilding their country when Putin has lost.
Whilst we take time to dwell on those mind boggling numbers lets decide - Who wins most inconvenienced oligarch of the last 48 hours?
Answer – Putin (and Trump) loving crony, Russian Crim-billionaire (my new word – I hope it catches on) oligarch Viktor Vekselberg.
Why?
Answer - He had his $90 Million Yacht Seized in Spain!
This latest oligarch asset is a $90-million, 255-foot vessel, which Spanish authorities took control of at the direction of the Justice Department of the United States. The yacht, named Tango (let’s all hope it is the Last!), was subject to seizure “based on violation of U.S. bank fraud, money laundering, and sanction statutes,” the US Justice Department stated, before noting that Vekselberg was also using U.S. banks to maintain the boat despite not having proper licensing to do so from the Treasury Department.
Hip, Hip, Hooray!
A first time reader may feel I am running a personal vendetta against these crim-billionaire oligarchs but as usual please have no sympathy because:-
i. No guesses how he made his initial fortune – yes, he benefited financially from the privatization of the aluminium industry in Russia under the Yeltsin administration in 1993. I will not repeat what I have written in previous updates other than say, please rearrange the following words: -assets-corrupt-state-auction-bribery-of-Russian-civil servants-the-by.
ii. Vekselberg is an oligarch who was outed for funnelling hundreds of thousands of dollars to Michael Cohen, a man known as the Devil’s Advocate – although I would say that this was an insult to Lucifer as I am sure even a fallen angel has a better circle of business colleagues – check a Dante illustration!
These particular under-the-counter funds were donated to Donald Trump’s Presidential Campaign. Michael Cohen was Trump’s personal lawyer for a while, most famous for his efforts in the Stormy Daniel’s affair. Cohen also represented Elliott Broidy, who was the former deputy finance chairman of the Republican National Committee, by paying US$1.6 million to a former Playboy Playmate with whom he had a two year relationship and a child. Nice people to do business with – NOT.
On a completely unrelated note, clearly not influenced by illegal Russian funding at all, Ex-President Trump recently calling the Kremlin leader a "genius" and "savvy" in a radio interview regarding the Ukraine. Those remarks were the latest of many instances where the 45th President has approved of, or admired, authoritarian rulers. As well as Putin, Trump has previously made positive comments about North Korean dictator Kim Jong Un and Chinese President Xi Jinping. Luckily for the world there were never any real signs the ‘The Donald’ ever wanted to be a dictator.
iii. Viktor Vekselberg has already crossed swords and lost against the Swiss Government. In April 2009, Swiss Federal Finance Department initiated a criminal investigation against Vekselberg in connection to alleged violations of securities law. Result - Vekselberg was fined US$38m by Swiss authorities.
iv. Just to show he is an internationally talented Crim-billionaire, skills not just limited to the Russia economy, in 2008 Viktor Vekselberg proxied a deal between the Russian and Hungarian governments. He purchased the former Russian embassy building in Hungary for US$21m, then immediately sold it to the Russian government for US$116m, while the market price of the building was estimated at US$50m. The corrupt Hungarian officials were subsequently arrested. The Russian legal system got bogged down in its investigation – no great surprise there.
If only I could do that type of property deal – except for the jail time of course!
Everything has a flip side so the good news for Viktor Vekselberg is that he has intense experience of international sanctions already to fall back on:-
v. Vekselberg drew the interest of U.S. law enforcement in 2018 when the Justice Department slapped sanctions on him and other Putin-connected oligarchs in an effort to punish Russia for interfering in the 2016 election.
vi. In April 2018, the United States imposed sanctions on him and 23 other Russian nationals in relation to Russia's annexation of Crimea.
Experience is a great resource to fall back on in times of trouble – let’s hope in this case he falls completely backwards!
Out of interest what did this Crim-billionaire spend some of his dubiously acquired fortune on?
Answer - In February 2004, Vekselberg purchased nine Fabergé Imperial Easter eggs from the Forbes publishing family in New York City for a reputed US$100 million (I offered £12.50 for one egg but withdrew the bid as they were not free range). The collection was transported to Russia and exhibited in the Kremlin, and then in Dubrovnik in 2007. Viktor Vekselberg is the single largest private owner of Fabergé eggs in the world, owning fifteen of them (nine Imperial, two Kelch, and four other Fabergé eggs).
Maybe, as he endures the ever tightening global sanctions, Victor might want to mull over the following question:-
“WHAT DO FABERGE EGGS AND UKRANIANS HAVE IN COMMON?”
“THEY CANNOT BE BEATEN!”
Thanks for reading,
Love to all,
Neil xx
ps - On December 12, 2018, U.S. District Judge William H. Pauley III sentenced Cohen to three years in prison.