BTG resolves $21 million offshore structure concerns across multiple jurisdictions

The Challenge

BTG was appointed to investigate an offshore special purpose vehicle established for a $21 million contract, with funds channelled through Jersey, Cyprus, and Russia creating complex transaction webs. Serious concerns emerged regarding shadow directors potentially exercising undisclosed control, potential money laundering activities, and possible fund diversion from legitimate purposes. The cross-border structure's opacity made establishing accountability lines extremely difficult, requiring comprehensive forensic investigation across international borders.

Our Approach

We took immediate control of two offshore companies to enable thorough investigation. Our team travelled to Eastern Europe to obtain complete financial records from the outsourced accounting function. We conducted detailed forensic analysis identifying potential shadow directors and undertook comprehensive reconciliation of all money flows, tracing funds through various jurisdictions and matching payments to underlying service contracts.

The Outcome

Through systematic investigation, we successfully addressed all concerns regarding control structures and fund usage. Our detailed reconciliation provided clarity on the $21 million movement through jurisdictions, establishing clear evidential trail linking payments to legitimate contractual obligations and verifying proper fund application.