FACT’s Ryan Gurule is quoted in the Wall Street Journal:
“Sanctioned Russians may have far more private-equity holdings than anybody yet knows, as a result of the loose rules on private funds for identifying customers, according to the Financial Accountability and Corporate Transparency Coalition, a group that aims to fight tax abuse and money laundering.”
“Private funds are “a black hole” because of their lack of requirements for vetting and reporting investors, said Ryan Gurule, policy director for the FACT Coalition. “There’s no real way to measure the intrusion of oligarch money into that sector, but recent revelations have proven that it has found its way into the [private funds] industry,” said Mr. Gurule.”
The full, original article is accessible on the Wall Street Journal’s website here.