FinCEN Files — In alert on shell firms, NY bank flags transfers to Adani from Seychelles

The FinCEN Files contain a 20-page “intelligence assessment” on the mirror network and list 54 shell companies which, they say, moved billions of dollars annually from Russia through European securities markets to other jurisdictions beginning as early as 2011.

Adani Gobal PTE, the Singapore-based global arm of the Adani Group, crops up in a clutch of Suspicious Activity Reports (SARs) filed to FinCEN, the top US financial watchdog, that red-flag the subject of shell companies and their use in money laundering activities in the tax haven of Seychelles.

These SARs, investigated by The Indian Express, form part of Bank of New York…