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One of the most damning aspects of the offshore economy is how it can enable and obscure cross-border criminal networks.
The Kinahan drug cartel emerged in Dublin and now has strong ties to Spain, Morocco, Dubai, Colombia and Russia. It’s flooded Europe with narcotics, including heroin, ecstasy, marijuana from North Africa and cocaine from South America.
But the gang has seen few repercussions outside Ireland. Suspected leader Daniel Kinahan has enjoyed an active public life, managing some of the world’s premier boxers and mingling with royals and politicians while making a new home in Dubai.
That’s all started to change this month. After new U.S. sanctions targeted the Kinahan family, the UAE says it’s frozen their assets, and MTK Global, a high-profile boxing company co-founded by Daniel Kinahan, has ceased operations.
A new investigation by ICIJ and the Irish Times uncovers previously unknown ties between MTK and a sanctioned Kinahan consulting firm — and highlights the help the family has gotten from Emirati authorities and intermediaries.
As we’ve previously reported, the United Arab Emirates is a rising financial secrecy haven that’s under pressure to crack down on money laundering. Leaked documents detail how local partners in Dubai helped the Kinahans set up secret businesses, despite the family’s storied reputation for organized crime.
US TAX HAVEN REFORMS
Several financial transparency measures have been proposed in the United States on the state and federal levels, with lawmakers citing Pandora Papers reporting for showing how oligarchs, political elites and others hide wealth in America.
SRI LANKA STALLS
As economic crisis devastates Sri Lanka, the alleged hidden wealth of the ruling Rajapaska family has become a subject of ire in mass protests against the president. But an official probe sparked by the Pandora Papers has been quietly delayed.
SWEDISH PROBE
Ericsson is facing a preliminary investigation from Sweden’s National Anti-Corruption Unit as pressure continues to mount over the company’s handling of alleged ISIS bribes and corruption spree in Iraq exposed in the Ericsson List investigation.
INVESTIGATIVE TRAINING
Our partners at Arab Reporters for Investigative Journalism (ARIJ) are holding a free investigative reporting webinar in Arabic and English, featuring ICIJ reporter Will Fitzgibbon, this Thursday, April 28, the second session in their "Beyond Investigative Reports" series.
Thanks for reading!
Asraa Mustufa
ICIJ's digital editor
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