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Billionaire exiles (looking at you, Guptas) put a target on ...

World

Billionaire exiles (looking at you, Guptas) put a target on Dubai’s back

Cash transfers and crypto wallets from Russia into the UAE have accelerated over the past two weeks

Ben Bartenstein

The Gupta brothers stand accused of pillaging billions of dollars from SA. Isabel dos Santos is sought by Angolan authorities on suspicion of embezzling state funds. Bulgarian prosecutors say gambling tycoon Vasil Bozhkov is the leader of an organised crime group.

All of them are wanted at home to face allegations they deny, and all have something else in common: in recent years, they have found sanctuary in Dubai, a destination for some of the world’s wealthiest exiles.

The Gulf emirate catapulted itself from sleepy trade backwater to glitzy playground for the rich over the past 40 years. But Dubai’s status as a global financial hub also has a darker side, and one that is coming under increasing scrutiny just as international allies sanction some Russian assets after the invasion of Ukraine...

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