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NEWS 10 Times after the Land Registry last week released a complete list of 40,000 offshore com- panies that own nearly 100,000 properties in England. Many of them are in the most affluent areas of London. The new list yields clues to other oligarchs and their families who have acquired property in London. Vladimir Yakunin was once renowned as one of Putin’s closest allies and one of the most powerful men in Russia. When Russia invaded Ukraine in 2014, he was black- listed by the US Treasury department as part of Putin’s inner circle.This banned him from the US and froze any assets Yakunin held there. The British government declined to join the US in applying a ban. The London property owned by Andrey Yakunin has eight bedrooms, a pool, cinema room and wine store. Two live-in servants are registered there on the electoral roll. The mansion is held through an off- shore company, Terphos Financial Corporation, based in the British Virgin Islands. It is understood Andrey Yakunin owns the house as an investment property. The company bought the house for £23m in 2013. Andrey, an investor in a Russian hotel chain, also has a registered address in Hamp- stead. This property is worth about £10m and is owned through another offshore company, Diamondrock, but The Sunday Times has been unable to establish the ultimate owner. In August last year Vladimir Yakunin stepped down from his role as head of Russian Railways. Russian media reported he had fallen out with Putin over his son’s decision to apply for a British passport, although a Russian Railways spokesman said he had left to pursue a parliamentary career. Andrey now has a British pass- port. The Land Registry database reveals that in Weybridge, Surrey, one of the wealthiest areas of Britain, there are 141 mansions owned offshore, worth a total £425m. Among them is Hamstone House, a sprawling 10- bedroom mansion owned by Edenfield Investments in Cyprus. However, two names appearing on Land Registry documents for the house — Graham Bonham-Carter and Pavel Ezoubov — hint at its true owner: they are associates of the Russian aluminium tycoon and Tory donor Oleg Deri- paska. Bonham-Carter, a second cousin of the actress, Helena Bonham-Carter, has worked as a consultant for Deripaska. Ezoubov is Deripaska’s cousin. Edenfield Investments, which bought the property in 2001, has a forwarding address to a £50m property in Bel- gravia. This mansion is owned by another of Deripaska’s off- shore companies. A High Court case in 2006 refers to both properties, which are part of Deripaska’s portfolio of more than 20 luxury houses around the world. In a judgment, Mr Jus- tice Eady said the Russian bil- lionaire held his houses through offshore companies. This was “largely for reasons concerned with inheritance tax”, said the judge. Chido Dunn, a senior cam- paigner at Global Witness, believes greater transparency is needed over the offshore ownership of properties in Britain. “The government is taking concrete steps to tackle this by setting up registers of the real owners of companies registered in the UK, which is very welcome,” she said. “But for these measures to have teeth, the government must force the UK’s tax havens to set up the same registers, or we simply move the secrecy offshore.” @joshtboswell MP’s home loan from union fund financial dealings with the NUM, making it clear to the public that he hasn’t been using his old trade union as a private piggy bank.” The commissioner is already considering a complaint that Lavery did not declare in the Commons register of members’ interests more than £60,000 in redundancy pay from the union. He and NUM Northumberland Area have not explained another £85,426 listed as “past general secretary redundancy costs” in the union accounts. Lavery has been criticised for accepting almost £1.6m in donations from sick and injured miners to fund the declining NUM branch between 1996 and 2010. During that time he received around £750,000 in pay, pension contributions and other benefits. Lavery said this weekend: “The arrangement with the NUM ended over eight years ago. Any suggestion of impropriety is inaccurate and I reject it completely.” @stjamesl JEREMY CORBYN’S trade unions spokesman, Ian Lavery, received a home loan believed to be around £250,000 from a miners’ benevolent fund set up by the union that he ran before becoming an MP. The National Union of Mineworkers (Northumberland Area) provident and benevolent fund was listed as the lender on Lavery’s house by the Land Registry last month but the loan is no longer charged against the property. This weekend Lavery, who became an MP in 2010, said the arrangement had ended more than eight years ago but would not say whether he had repaid the loan or whether it had been written off. The shadow minister also refused to disclose the terms of the loan, which was made in 1994, two years after he became general secretary of NUM Northumberland Area. Lavery, who denies any wrongdoing, now faces calls to come clean and there have been demands for the parliamentary commissioner for standards, Kathryn Hudson, to investigate. Paul Scully, a Tory MP who has written to Hudson, said: “As Labour’s shadow minister for trade unions, it’s essential that Ian Lavery is totally open and transparent about his James Lyons DEPUTY POLITICAL EDITOR Ian Lavery said the £250,000 loan arrangement ended eight years ago A SON of a one-time close ally of Vladimir Putin is revealed today as the owner of a £35m mansion in London, after the government published a list of offshore-owned property in Britain worth more than £200bn. Andrey Yakunin, who owns the eight-bedroom property in St John’s Wood, north London, is the son of Vladimir Yakunin, a former member of the Rus- sian president’s inner circle who was blacklisted by the US in 2014. The owner’s identity was confirmed to The Sunday Josh Boswell, Mark Hollingsworth and The Sunday Times Data Team Son of Putin ally has £35m London house The photographer David Yarrow was standing chest-deep in a crocodile-infested swamp when he took this picture of a male orang-utan leaping from a tree at Camp Leakey, in south Borneo’s Tanjung Puting national park. The orang-utan conservation centre was set up in 1971 and is the oldest of its kind in the world. DAVID YARROW NEVER MIND ME, MATE, THERE’S A CROC BEHIND YOU Oleg Deripaska owns Hamstone House in Weybridge, Surrey

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Page 1: NEW DAVID YARROW NEVER MINDME, MATE, THERE’SA CROC ...€¦ · Andrey nowhasaBritishpass-port. The Land Registry database reveals that in Weybridge, Surrey, one of the wealthiest

NEWS

1 0

Times after the Land Registrylast week released a completelist of 40,000 offshore com-panies that own nearly100,000properties inEngland.Manyofthemareinthemost

affluent areas of London.The new list yields clues to

other oligarchs and theirfamilies who have acquiredproperty in London.Vladimir Yakunin was once

renowned as one of Putin’sclosest allies and one of themost powerful men in Russia.When Russia invaded

Ukraine in 2014, hewasblack-listed by the US Treasurydepartment as part of Putin’sinner circle.This banned himfrom the US and froze anyassets Yakunin held there. TheBritishgovernmentdeclined tojoin the US in applying a ban.TheLondonpropertyowned

by Andrey Yakunin has eightbedrooms, a pool, cinemaroom and wine store. Twolive-in servants are registeredthere on the electoral roll. Themansionisheldthroughanoff-shore company, TerphosFinancialCorporation,basedinthe British Virgin Islands.It is understood Andrey

Yakunin owns the house as aninvestment property. Thecompany bought the house for£23m in 2013.Andrey, an investor in a

Russian hotel chain, also has aregistered address in Hamp-stead. This property is worthabout £10m and is ownedthrough another offshorecompany, Diamondrock, butThe Sunday Times has beenunable toestablishtheultimateowner.In August last year Vladimir

Yakunin stepped down fromhis role as head of RussianRailways. Russian mediareportedhehad fallen outwithPutin over his son’s decision toapply for a British passport,although a Russian Railwaysspokesman said he had left topursue aparliamentary career.Andreynowhas aBritishpass-port.

The Land Registry databasereveals that in Weybridge,Surrey, one of the wealthiestareas of Britain, there are 141mansions owned offshore,worth a total £425m.Among them is Hamstone

House, a sprawling 10-bedroom mansion owned byEdenfield Investments inCyprus. However, two namesappearing on Land Registrydocuments for the house —Graham Bonham-Carter andPavelEzoubov—hintat its trueowner: they are associates ofthe Russian aluminium tycoonand Tory donor Oleg Deri-paska.Bonham-Carter, a second

cousin of the actress, HelenaBonham-Carter, has workedas a consultant for Deripaska.Ezoubov isDeripaska’s cousin.Edenfield Investments,

which bought the property in2001, has a forwarding addressto a £50m property in Bel-gravia. This mansion is ownedby another of Deripaska’s off-shore companies.A High Court case in 2006

refers to both properties,which are part of Deripaska’sportfolio of more than 20luxury houses around theworld. In a judgment, Mr Jus-tice Eady said the Russian bil-lionaire held his housesthrough offshore companies.Thiswas“largely forreasons

concerned with inheritancetax”, said the judge.Chido Dunn, a senior cam-

paigner at Global Witness,believes greater transparencyis needed over the offshoreownership of properties inBritain. “The government istaking concrete steps to tacklethis by setting up registers ofthe real owners of companiesregistered in the UK, which isverywelcome,” she said.“But for these measures to

have teeth, the governmentmust force theUK’s taxhavensto set up the same registers, orwe simply move the secrecyoffshore.”

@joshtboswell

MP’s home loanfrom union fund

financial dealingswith theNUM,making it clear to thepublic that he hasn’t beenusing his old trade union as aprivate piggy bank.”The commissioner is

already considering acomplaint that Lavery did notdeclare in the Commonsregister of members’ interestsmore than £60,000 inredundancy pay from theunion.He and NUM

Northumberland Area havenot explained another£85,426 listed as “past generalsecretary redundancy costs”

in the union accounts.Lavery has been criticised

for accepting almost £1.6m indonations from sick andinjuredminers to fund thedeclining NUMbranchbetween 1996 and 2010.During that time he receivedaround £750,000 in pay,pension contributions andother benefits.Lavery said this weekend:

“The arrangement with theNUM ended over eight yearsago. Any suggestion ofimpropriety is inaccurate andI reject it completely.”

@stjamesl

JEREMYCORBYN’S tradeunions spokesman, IanLavery, received a home loanbelieved to be around£250,000 from aminers’benevolent fund set up by theunion that he ran beforebecoming anMP.The National Union

of Mineworkers(Northumberland Area)provident and benevolentfundwas listed as the lenderon Lavery’s house by the LandRegistry last month but theloan is no longer chargedagainst the property.This weekend Lavery, who

became anMP in 2010, saidthe arrangement had endedmore than eight years ago butwould not saywhether he hadrepaid the loan orwhether ithad beenwritten off. Theshadowminister also refusedto disclose the terms of theloan, whichwasmade in1994, two years after hebecame general secretary ofNUMNorthumberland Area.Lavery, who denies any

wrongdoing, now faces callsto come clean and there havebeen demands for theparliamentary commissionerfor standards, KathrynHudson, to investigate.Paul Scully, a ToryMPwho

haswritten to Hudson, said:“As Labour’s shadowministerfor trade unions, it’s essentialthat Ian Lavery is totally openand transparent about his

James LyonsDEPUTY POLITICAL EDITOR

Ian Laverysaid the£250,000 loanarrangementended eightyears ago

A SON of a one-time close allyof Vladimir Putin is revealedtoday as the owner of a £35mmansion in London, after thegovernment published a list ofoffshore-owned property inBritain worth more than£200bn.Andrey Yakunin, who owns

theeight-bedroomproperty inSt John’sWood,northLondon,is the son of Vladimir Yakunin,a former member of the Rus-sian president’s inner circlewho was blacklisted by the USin 2014.The owner’s identity was

confirmed to The Sunday

Josh Boswell, MarkHollingsworth and TheSunday Times Data Team

Son of Putinally has £35mLondon house

The photographer David Yarrow was standing chest-deep in a crocodile-infested swamp when he took this picture of a male orang-utan leaping from a tree atCamp Leakey, in south Borneo’s Tanjung Puting national park. The orang-utan conservation centre was set up in 1971 and is the oldest of its kind in the world.

DAVID YARROW

NEVERMINDME, MATE, THERE’S A CROC BEHIND YOU

Oleg Deripaska owns Hamstone House in Weybridge, Surrey