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Finance Uncovered We train journalists and campaigners to follow the money and then we help them get stories out there.

The UK government’s new Economic Crime Act will do a lot of good and important stuff. *BUT* if ministers’ main goal was ...
03/11/2023

The UK government’s new Economic Crime Act will do a lot of good and important stuff.

*BUT* if ministers’ main goal was to stop criminal and corrupt international actors from exploiting anonymous UK shell firms … then, not so much. 😬

Check out our investigation led by our brilliant investigations editor, Simon Bowers who partnered with the BBC and the Seychelles Broadcasting Corporation (SBC).

In it, we found a legion of Russians hidden behind UK firms in leaked “side agreements” stored at a Russian-owned offshore firm in the Seychelles.

Many of the revelations were dug out from unpublished documents that were part of the leak.

Huge 🙏 to the International Consortium of Investigative Journalists for making the files accessible.

Among our findings: the Russian businessman behind anonymous “foreign agent” payments to a US lobbyist - an ex-Trump aide - in 2017

As well as accessing leaked files, we worked with a top team of reporters from the Seychelles & expert data crunchers at the BBC.

These were Michelle Murray at SBC plus the Beeb’s James Oliver, Will Dahlgreen, James Melley & Andy Verity

For more, see Thursday’s edition of BBC Newsnight (we are 28 minutes in) plus our updates in coming days.

Our special report out today – Chad's Hereditary Kleptocracy –  is dedicated to the people who lost their lives in the p...
20/10/2023

Our special report out today – Chad's Hereditary Kleptocracy – is dedicated to the people who lost their lives in the protests that took place throughout Chad on October 20 2022.

Its genesis dates back to a workshop organised by the Opening Central Africa coalition and Global Integrity in April 2023.

The representative from Chad at the meeting was Delphine Djiraibe, a highly respected and brave human rights lawyer, who runs the Public Interest Law Center.

Delphine believes Chadians suffer from an information vacuum after decades of authoritarian rule.

She felt that the October 20 massacre of hundreds of demonstrators demanding justice and equity needed to be commemorated with a report that documented the state of the nation.

Led by our brilliant reporter Warren Thompson, we hope this publication provides some useful context on the one year anniversary of one of Chad’s darkest days since its independence 63 years ago.

Hereditary Kleptocracy in Chad: A Special ReportOne year after the massacre of pro-democracy demonstrators in October 2022, what now for Chad, its economy and its people?AuthorWarren ThompsonDate19 Oct 2023PartnerShareOur new report examines developments since the death of Chad's long-time ruler, Id...

Here's some interesting IMPACT from our journalism dear FaceFriends.Six months after our exposé on New Life, the Georgia...
29/06/2023

Here's some interesting IMPACT from our journalism dear FaceFriends.

Six months after our exposé on New Life, the Georgian-run international agency selling low-cost surrogacies to infertile couples in 73 countries, Georgia's PM says he'll ban overseas couples from flying in & hiring Georgian women as surrogates https://www.financeuncovered.org/stories/georgia-ban-low-cost-surrogacy-new-life

But for two reasons, this is NOT an unqualified triumph:

1⃣New Life and others may expand in other countries, where women are at even greater risk of exploitation
2⃣Ahead of Georgian elections, the ban on surrogacy tourism is being presented as part of an anti-gay agenda

ICYMI, our original Project, investigating New Life across 4 continents — a journalistic collaboration involving 🇬🇪🇰🇪🇪🇪🇰🇭🇬🇧🇲🇽

Our reporting reveals how New Life gets around anti-exploitation laws to match desperate parents with surrogates — often unmarried, poor, single mums.

Please note: Our reporting is NOT a campaign to ban, or to regulate, surrogacy.

That’s an ethical debate for others to have.

Georgia to ban overseas couples from hiring women as surrogatesMove is fresh blow to controversial New Life group of companiesAuthorSimon BowersDate27 Jun 2023ShareThe Republic of Georgia is set to ban overseas couples who struggle with infertility from visiting the country and hiring women to carry...

Six years years ago, Ghana introduced free secondary schooling. Unsurprisingly, it now needs a lot more teachers. But Gh...
27/06/2023

Six years years ago, Ghana introduced free secondary schooling. Unsurprisingly, it now needs a lot more teachers. But Ghana's ability to train new teachers is hamstrung because its sovereign debt repayments are MASSIVE.

How and why did this happen?

Check out the latest blog by our Warren Thompson

EXPLAINER: The making of Africa's sovereign debt crisis - Part TwoHow rising debt, a global pandemic, and the war in Ukraine led to a full-blown crisisAuthorWarren ThompsonDate26 Jun 2023ShareThe courtyard of the incomplete trainee's hostel at the Bagabaga College of Education located in Ghana's nor...

What you need to know about the sovereign debt crisis damaging the lives of ordinary people in many African countries. T...
10/05/2023

What you need to know about the sovereign debt crisis damaging the lives of ordinary people in many African countries. The first in a new series that will build over coming months.

ANALYSIS: The making of Africa's sovereign debt crisisThe first in a series of blogs examining how the crisis affects ordinary peopleAuthorWarren ThompsonDate10 May 2023ShareIn June 2022, Finance Uncovered and the superb team at MakanDay Centre for Investigative Journalism reported on the shocking c...

22/03/2023

Trafficking of priceless resources from Nepal, including statues with spiritual and religious values, human and natural resources have been taking place for several centuries. On 20th March 2023, Finance Uncovered (FU), a

Our reporter, Malia Politzer teamed up with journalists working in India, Italy, Nepal and the US to land this top scoop...
21/03/2023

Our reporter, Malia Politzer teamed up with journalists working in India, Italy, Nepal and the US to land this top scoop: More than a 1,000 treasures in New York's Met Museum linked to international traffickers.

A Catalogue of Shame: Probe links more than 1,000 treasures at New York's Met Museum to international traffickersReporters show how looted antiquities are more than just numbers: Some treasures have a cultural history stolen from their home communitiesAuthorsMalia Politzer, Spencer Woodman, Delphine...

One of our highlights from last year was training four superb African Women Journalism Project reporters. With their new...
14/03/2023

One of our highlights from last year was training four superb African Women Journalism Project reporters. With their new skills, now look what they've gone and done!

Disclose the gap! A challenge to companies to publish gender pay differentials in KenyaThe Africa Women Journalism Project has identified a 'hypocrisy gap' in how multinationals treat Kenyan workers in their reportingAuthorTed JeoryDate13 Mar 2023PartnerShareA ground-breaking campaign has been launc...

Greetings! Face Friends, here's our latest…It’s an EPIC tale. We traced a cut-price surrogacy tourism agency across four...
19/12/2022

Greetings! Face Friends, here's our latest…It’s an EPIC tale.

We traced a cut-price surrogacy tourism agency across four continents, unpicking how it circumvents anti-exploitation laws to match desperate would-be parents with surrogates (including many poor, vulnerable single mums).

The agency, called New Life, says it arranges 80-100 embryo transfers a month to surrogate women around the world. Among its busiest branches are Mexico and Georgia — it also previously operated in Ukraine, Kenya, Cambodia, Thailand, Nepal and elsewhere.

At the heart of the New Life, is a UK shell company called New Life Global Networks LLP (NLGN).

It is owned by two nominee companies in the Marshall Islands (a Pacific Ocean secrecy haven), and its ultimate owner – on paper – was a Georgian called Irakli Khvichia.

We tracked Khvichia down. He's a former airport driver & logistics manager with a conviction for manufacture of synthetic street drug Alpha-PVP (aka Flakka). He didn’t have many answers when we asked him whether he was a senior boss/owner at New Life.

Five days after we confronted Khvichia in a Tbilisi street, NLGN filed an update on Companies House, the UK company registry. Khvichia, it said, was no longer the ultimate owner of NLGN.

So why is NLGN important? We went undercover to find out. When we posed as potential New Life customers, we were sent draft contracts we would have to sign. To be matched with a surrogate in Mexico, the contract said, we must pay $4,500 to NLGN’s bank account.

We showed the contract and other findings about New Life’s marketing activities in the UK to several legal experts. They all said it looked like the agency was breaking British laws that ban for-profit surrogacy agencies from marketing, promoting and negotiating their services in the UK.

As well as paid-for surrogacy, New Life have offered clients other extra services, unlawful or discouraged in some countries. These including picking the s*x of your child (for non-medical reasons) and multiple embryo transfers.

If things don’t go to plan, New Life again had options for customers: until 2015, its Ukrainian website advertised that newborns with genetic abnormalities could lawfully be abandoned by commissioning parents at a local orphanage.

So who really does own New Life? The face of the agency is its “co-founder” Mariam Kukunashvili, a Georgian woman who lives a conspicuously luxurious lifestyle, according to her many Instagram posts. And it was her husband who recently replaced Khvichia as the owner of NLGN.

New Life told reporters it always acted within the law, everywhere it operated. New Life "have always been proud of helping thousands of childless couples to achieve their goals... We have also assisted many people to overcome poverty." It no longer does multiple embryo transfers.

Our investigation involved months of collaborative work by amazing reporters at iFact in Georgia, Eesti Päevaleht in Estonia, Animal Politico in Mexico as well as freelancers Naipanoi Lepapa in Kenya and Vicheika Kann in Cambodia. It also went out with the UK's Observer.

Grab a coffee, make yourself comfy and dive into our tale. Let us know what you think and feel free to share it:

Your favourite financial journalism training and reporting organisation is offering places on our new 15 hour e-learning...
12/09/2022

Your favourite financial journalism training and reporting organisation is offering places on our new 15 hour e-learning course designed to help journalists and activists find stories in company financial statements. Divided over four modules with quizzes knowledge checks and an assignment, our new "Follow the Money" learning product has been assessed for Continuing Professional Development. So it counts towards CPD points.

Spread the word...apply by Sept 26...

Training alert! Join our highly rated Understanding Company Accounts courseStarts October 12, apply by September 26AuthorsTed Jeory and Nick MathiasonDate10 Sep 2022The Basics Course dates: October 12 – November 23, 2022 Places available: 15 Deadline for applications: September 26, 2022. Where: On...

Your Sunday night read...The **extraordinary** story of a pioneering  company formation agency dogged by allegations of ...
07/08/2022

Your Sunday night read...

The **extraordinary** story of a pioneering company formation agency dogged by allegations of money laundering and 'fake' documents.

https://www.financeuncovered.org/stories/english-limited-partnerships-os-company-formation-agency-linked-to-some-of-the-worlds-corruption-scandals

IOS: pioneering secrecy firm dogged by allegations of money laundering and 'fake' documentsAuthorSimon BowersDate7 Aug 2022InvestigationsAgents of SecrecyThe London ConnectionPartnersBBCTrouble has never been very far from some of the anonymous British companies created by IOS, one of the first comp...

Some anonymous shell companies based at this Bristol barber shop are linked to international corruption scandals and the...
05/08/2022

Some anonymous shell companies based at this Bristol barber shop are linked to international corruption scandals and the Boston marathon bomb probe...

We've got your hair-raising Friday read...

https://www.financeuncovered.org/stories/english-limited-partnerships-arran

How a Bristol barber shop links Boston marathon bomb probe and host of international corruption scandalsAuthorSimon BowersDate5 Aug 2022In 2017, Erkan Cil, the former owner of a kebab van business, bought an empty shop next to a KFC in the Fishponds suburb of Bristol. To anyone peeking through the w...

We explain why money launderers across the former Soviet Union use anonymous companies in the United Kingdom. (Spoiler a...
04/08/2022

We explain why money launderers across the former Soviet Union use anonymous companies in the United Kingdom. (Spoiler alert: they're still at it!)

https://www.youtube.com/watch?v=2ZcdxbzXtv0

An explainer on how money launderers have found loopholes in UK law to create anonymous shell companies through limited partnerships that mask the true ident...

We’ve tracked down the masterminds and minions throughout Europe that make up five of the busiest Russia-facing corporat...
04/08/2022

We’ve tracked down the masterminds and minions throughout Europe that make up five of the busiest Russia-facing corporate secrecy agencies.

They operate within the law.

But some of their shady clients are behind many of the biggest money laundering scandals of our times.

Using thousands of leaked documents and advanced data analysis, we worked with the BBC to explain why money launderers across the former Soviet Union have, for decades, turned to anonymous companies in the UK.

And we show how British politicians have failed to stamp out corporate secrecy, despite boasts to the contrary.

Political failure has helped criminals and money launderers to exploit loopholes to shift billions of $$$s in dirty money through shell companies.

Check it and share it...

https://www.financeuncovered.org/stories/english-limited-partnerships-secrecy-formation-agencies-ios-las-lotus-comform-corruption

Exposed: How Russia-facing company formation agents took over the darkest corners of corporate BritainAuthorsSimon Bowers, Purity Mukami and Leila HaddouDate2 Aug 2022InvestigationThe London ConnectionPartnerBBC NewsnightFive agencies that specialise in creating shell companies for clients in the fo...

Here's our Data Lead, Purity Mukami's report on how new Kenya government rules to combat corruption and secrecy in publi...
22/07/2022

Here's our Data Lead, Purity Mukami's report on how new Kenya government rules to combat corruption and secrecy in public procurement are still riddled with loopholes. Check it out!
https://www.financeuncovered.org/stories/will-kenya-allow-its-people-to-discover-the-true-beneficiaries-of-government-contracts

Will Kenya allow its people to discover the true beneficiaries of government contracts?AuthorPurity MukamiDate21 Jul 2022New government regulations introduced in February to combat secrecy and corruption in Kenya’s public procurement still have significant loopholes, top policy experts have warned...

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