Global Magnitsky
December 07, 2018

Serbian Arms Dealer’s Concealed Ownership of Cyprus Companies

The lack of commercial transparency in Cyprus has attracted illicit actors seeking to establish companies where they can conceal their ownership. One such figure, Serbian arms dealer Slobodan Tesic, controls two companies in the island nation.

Cypriot corporate records for the firms, Grawit Limited and Charso Limited, reveal they are both wholly owned by Soula Iakovidou, the founder of a law firm that advertises its “trust setup and management” as well as “worldwide company formation.” Both companies were sanctioned by the US in 2017 for being owned or controlled by Tesic.

Kharon research

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