NBC: Paradise Papers: Leaks Show Wilbur Ross Hid Ties to Putin Cronies
Wilbur Ross, the commerce secretary in the Trump administration, shares business interests with Vladimir Putin’s immediate family, and he failed to clearly disclose those interests when he was being confirmed for his cabinet position.
Ross — a billionaire industrialist — retains an interest in a shipping company, Navigator Holdings, that was partially owned by his former investment company. One of Navigator’s most important business relationships is with a Russian energy firm controlled, in turn, by Putin’s son-in-law and other members of the Russian president’s inner circle.
Some of the details of Ross’s continuing financial holdings — much of which were not disclosed during his confirmation process — are revealed in a trove of more than 7 million internal documents of Appleby, a Bermuda-based law firm, that was leaked to the German newspaper Süddeutsche Zeitung. The documents consist of emails, presentations and other electronic data. These were then shared with the International Consortium of Investigative Journalists — a global network that won the Pulitzer Prize this year for its work on the Panama Papers — and its international media partners. NBC News was given access to some of the leaked documents, which the ICIJ calls the “Paradise Papers.”
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WNU Editor: He maintains an interest in Navigator Holdings (a global firm that specializes in liquefied gas) through four Cayman Island registered companies .... companies that he did tell the Senate committee during his confirmation process that he was going to retain ownership, as well as telling them that he was not going to be involved in its operations. Should he have been more forthright on his ownership of stock in Navigator Holdings through these holdings .... definitely .... but did he violate the law .... technically he did not. Should the U.S. Senate have been more forceful in their questioning on what did these holding companies actually own .... definitely ... but they did not. But the big problem is not Wilbur Ross being less than specific about his holdings .... the problem is that Navigator Holdings is doing business with a firm run by Russians that are under U.S. sanctions. And while Wilbur Ross is not an officer or Director of the company .... he does own shares .... and this puts him in a conflict of interest situation. As for the Putin connection and the Russian energy giant Sibur .... it is via through his son-in-law Kirill Shamalov, a person that this blog has pointed out before .... In Two Years Russian President Putin's Son-In-Law Became A Billionaire (December 31, 2015).
More News On The Paradise Papers Disclosing Ties Between U.S. Commerce Secretary Wilbur Ross And Russian Companies
Paradise Papers: Leaks Show Wilbur Ross Hid Ties to Putin Cronies -- NBC
Trump’s Commerce secretary did not disclose ties to Putin family: report -- The Hill
Commerce Secretary's Offshore Ties to Putin 'Cronies' -- New York Times
Commerce chief Ross kept holdings in Russian-tied firm: reports -- Reuters
Wilbur Ross Has Stake in Firm Tied to Putin Orbit: Report -- Bloomberg
Leaked documents link Trump’s Commerce Secretary to Putin cronies -- ABC News Online
