Where are the Ukrainian money?

 The four towers of One Hyde Park, designed by Richard Rogers and backed by the Qatari ruling family, are aimed at what some would call the obscenely rich.
Almost 80 percent of the 72 hyper-luxury apartments have so far been bought, at prices ranging from £3m to £136m, in the name of anonymous offshore entities.
A possible explanation for offshore secrecy in one case emerged this year, when the alleged true owner of a £3.6m flat, the bankrupt Irish property developer Ray Grehan, was identified and accused of an attempt to cheat his creditors.
The Irish “bad bank”, Nama, is owed €269 million (£216 million) by Grehan and is pursuing him though the courts. Grehan denies wrongdoing: he maintains the flat is not really his, but belongs to a family trust.
Also now identified, although not accused of such wrongdoing, is the owner of the most extravagant of the flats at One Hyde Park. The BVI-registered company Water Property Holdings Ltd paid £136 million in 2007 for a pair of penthouse flats to be knocked together. Behind the anonymous entity is Rinat Akhmetov, the richest man in post-Soviet Ukraine.
http://www.icij.org/offshore/one-hyde-park-london-secret-owners
November 26, 2012
by David Leigh, Britain, the investigations editor for The Guardian newspaper of London and a former producer for World in Action, an investigative program on Britain's Granada TV.