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How Billionaires in London Use Secret Luxury Homes to Hide Assets

From bloomberg.com

On London’s Billionaires Row in Hampstead, the seven-bedroom Carlton House with its 50-foot ballroom, underground swimming pool and 10-person Turkish bath is for sale for 14 million pounds ($21.5 million). It’s being sold to repay BTA Bank after British courts seized assets from the Kazakh lender’s one-time chairman, billionaire Mukhtar Ablyazov. The lender accused him of embezzling about $6 billion from the bank, claims he says are false and politically motivated. It took the U.K. High Court to establish that the home, with its marble bathrooms, crystal chandeliers and cherry-wood elevator, belongs to the ... (full story)

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