Corso Solutions LP appears to be an unusual property developer. The Edinburgh-registered company has no website, no contact details and no obvious business activity. And yet it was named last autumn as a foreign investor on the Tashkent City project, a giant property redevelopment in the centre of Uzbekistan’s capital. openDemocracy has found that Corso Solutions has connections to an opaque international network that provides company formation services, including to apparent money laundering vehicles.[...]
According to the UK companies registry, Corso Solutions has not logged any activity or accounts since its formation. As reported by Scottish newspaper The Herald, the company should have disclosed its beneficial owner (“Person of Significant Control”) after new UK legislation on Scottish Limited Partnerships came into force in 2017. Concerns about this situation were raised in September last year. [...]
Corso Solutions was first mentioned in a September 2018 report by Uzbek media on investors in Tashkent City. Since then, we have been unable to find any information on the exact nature of Corso Solutions’ investment, and it is not mentioned on Tashkent City’s official website. When Radio Ozodlik contacted Tashkent City in October 2018 regarding Corso Solutions, an official responsible for foreign investment stated that information on approved foreign investors, including Corso Solutions, was a “commercial secret”. When we contacted Tashkent City project administration to confirm Corso Solutions’ role in the project in January and February 2019, we received no response.[...]
OCCRP and the International Consortium of Investigative Journalists report that the GT Group has set up offshore corporate networks used by Russian organised crime, Hezbollah and the Mexican Sinaloa drug cartel to launder funds and hide ownership. Companies House records that Ian Taylor has been disqualified as acting as a company director until 2021 under section 6 of the Company Directors Disqualification Act 1986 (Duty of court to disqualify unfit directors of insolvent companies).
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