Tail number N53EL owned by unknown down from West Hampton to Vero Beach.
Bank of Utah Trustee also rears it's ugly head here. And is why ownership is hidden.
How Bank of Utah helped a Russian oligarch with ties to Putin register a jet in the United States
By Matt Canham
·
Published: November 6, 2017
Updated: November 06, 2017
Russia’s richest oligarch, Leonid Mikhelson, had a private jet secretly registered in the United States and he did it with the help of Bank of Utah, based in Ogden.
The community bank, with 19 locations, has a side business creating aircraft trusts, largely for people who don’t want their names on any public documents. Such transactions, while legal, have been criticized by some members of Congress and federal auditors as major security risks.
The transaction involving Mikhelson, who is close to Russian President Vladimir Putin, is the subject of a New York Times article published Monday as part of the “Paradise Papers” leak, where a cache of records from Appleby, an offshore law firm, were leaked to a German newspaper, which then brought in the International Consortium of Investigative Journalists.
Bank of Utah manages at least 1,390 aircraft trusts, making millions in fees. This is not the first time one of its trusts caused an international stir. In 2014, a small jet was spotted at the airport in Tehran, Iran, that was registered to Bank of Utah, which may have violated of U.S. sanctions.
Moar at:
https://www.sltrib.com/news/business/2017/11/06/how-bank-of-utah-helped-a-russian-oligarch-with-ties-to-putin-register-a-jet-in-the-united-states/