"Golden visas" were also given to millionaires associated with corruption and crime

The British government said yesterday that a small number of people who received so-called "golden visas" for millionaire investors may have made their fortunes through corruption or organized crime.

Last year, the day before the invasion of Ukraine, the government scrapped the scheme, which opened the way to residence visas for those investing at least two million pounds, amid concerns in London about the flow of illegal Russian money.

Reuters reminds that the government first requested a review of the visa program in 2018 after the poisoning of double Russian agent Sergei Skripal in Britain. After the findings of the investigation were kept secret for years, the government released the details in front of parliament yesterday.

For seven years between 2008 and 2015, known as the "blind trust" era, background checks were minimal and golden visa applicants did not need a UK bank account and there were no specific checks in in connection with money laundering

"Investigation of the cases identified a small minority of individuals in connection with the visa program for whom there was a potentially high risk that they had acquired wealth through corruption or other illegal financial activities, or that they had participated in serious and organized crime," the British Home Secretary said in a statement. security Suela Braverman.

The golden visa program, first introduced in 2008, was popular among wealthy people from Russia, China and the Middle East. Russian oligarchs and Chinese entrepreneurs have flocked to London over the past two decades, buying everything from grand mansions to football clubs.

For seven years between 2008 and 2015, known as the "blind trust" era, background checks were minimal and golden visa applicants did not need a UK bank account and there were no specific checks in in connection with money laundering, the "Guardian" points out.

An influx of tens of billions of pounds in investment has helped London maintain its position as one of the world's leading financial capitals. However, the government is concerned about the origin of the wealth, especially now after the Russian invasion of Ukraine.

Under the scheme, foreigners who invested two million pounds in property in Britain could apply for a permanent residence visa after five years in the country. With an investment of 10 million pounds, the application was possible after two years.

Braverman said the investigation found that the program "attracted a disproportionate number of reports from nationals of countries identified as part of the UK's national money laundering and terrorist financing risk assessment".

The government declined to provide estimates of how many visas were issued to those with criminal records, but Braverman said 10 unnamed oligarchs under sanctions after Russia's invasion of Ukraine were among those who used the program.

In total, more than 12 golden visas were issued, of which over 000 were issued to Russians, reports Reuters. The program continued even after Parliament's intelligence and security committee warned in 2 that the government "welcomes oligarchs with open arms."

The opposition Labor Party said the government's response was "completely inappropriate" and that key questions, including how many visas had been revoked, how many had been granted citizenship, and the security threat posed by criminals who were used the program to enter Britain.

Liberal Democrat spokeswoman Laila Moran said: “This smacks of a cover-up. For years, the Conservative government has been promising to release the results of the golden visa inquiry - so we can finally understand how Putin's henchmen used the program to enter our country. After five years of waiting, they haven't even released the report - just a brief statement about the report. This is a farce”.