A register used to identify dirty Russian money in the UK has 70 children listed as foreign company owners.
The House of Lords heard on Tuesday how the newly released Register of Overseas Entities (ROE) also includes one company owner born in 1897—making the person 126 years old.
The anomalies were discussed as peers revealed that the “overwhelming majority” of registered overseas companies belonged to British individuals—raising fears that some foreign entities had been used to evade UK tax laws.
Lords also raised concerns surrounding misleading information being submitted to the register—which reveals foreign ownership of British property.
Over 32,000 overseas companies own land and property in England and Wales and are legally bound under the new Economic Crime Act to reveal ownership to the UK government….