Shell company tied to Russian tax fraud paid Bombardier tens of millions, documents show

Flags fly outside a Bombardier plant in Montreal, Que., on May 14, 2015. Mark Masluch, a spokesman for Bombardier Business Aircraft, said the company had performed its due diligence ahead of the transaction and didn’t discover anything that prevented the sale.Leaked banking records show Canada’s Bombardier Inc. was paid tens of millions of dollars by a shell company that received money from the massive Russian tax fraud that cost accountant Sergei Magnitsky his life.

Mr. Browder, who hired Mr. Magnitsky to trace the missing funds, says Bombardier was obliged to look into the origins of the money used to buy its planes. Mr. Masluch said Bombardier had initially entered into the aircraft sales agreement in 2006 with a German company that later sold its shares to Flashback Services.“A due diligence performed on Flashback in January, 2008 did not reveal any anomalies,” Mr. Masluch wrote in an e-mailed reply to questions from The Globe. “Bombardier’s rigorous process also takes into account any holding companies as well as their ultimate beneficiaries.

One of the central findings is the existence of a web of shell companies − which the OCCRP dubbed the “Troika Laundromat” − that used the Vilnius-based Ukio Bankas to move billions of dollars into Western institutions and then back again in what experts consulted by The Globe say appears to be a massive money-laundering operation. The network is named after Troika Dialog, a Moscow-based investment bank controlled by an individual with connections to Russian President Vladimir Putin.

All of the money paid to Bombardier flowed via accounts at Ukios Bankas, which collapsed in 2013 and is now under criminal investigation for large-scale money laundering. Vladimir Romanov, the founder and director of Ukios, was granted asylum in Russia in 2014.

More trouble for Sunny ways

Not surprised. Quebec is corrupt to the core.

Frankly Globe & Mail, if you are going to use Twitter to get our articles out there, the at least unplug them from your pay wall. Otherwise, don't bother.

I hope you can dig deeper to see if the PMO is somehow involved. At this point, I don't think Canadians would be surprised.

The PM is taking questions tomorrow will he be asked about this new breaking story?

BeachSnob No worries - Justin Trudeau will change the laws to help Bombardier too. cdnpoli lavScam

They don’t call it “Queer-bec” for nothing !

You’d think Quebec made enough money to support itself with all these other schemes that they wouldn’t need Alberta’s transfers payments. Too bad they didn’t vote Trump in for Premier, so they could have a wall around it and keep the rest of us honest hard working Canadians hpy

hahaha that hilarious..MORE of jussietrudeau close friends and who sits on the board of the trudeau foundation..i wonder how much money they owe to canada infrastructure bank too,,,snc lavalin all over again

That's just how they do business in Quebec. Why is anyone suprised..

Jesus H when it rains it pours ! TradeTraders StockBoardAsset TrudeauMustResign JWR JanePhilpott canada

We want our $200M back now! With interest!

Bombardier is also in israel aiding the occupation of the Palestine people.

Wow another one. What’s wrong with everything Canadian?

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