• Home
  • Articles
  • BVI confiscates $45 m from IPOC fund, will share money with Bermuda

BVI confiscates $45 m from IPOC fund, will share money with Bermuda

Bermuda-based sham mutual fund IPOC International Growth Fund Limited, which appears to have been a vehicle to launder approximately $1 billion of criminal proceeds by Russia's Telecommunications Minister Leonid Reiman, has had US$45.5 million confiscated after admitting criminal charges in the British Virgin Islands.