Leaked documents show Kinahan clan allowed to open food business in Dubai after being deemed ‘low risk’
Secret documents showed how the Kinahan Organized Crime Group (KOCG) planned to open a food import and export business in Dubai with an expected profit of $6.8 million.
he business plan was leaked to the International Consortium of Investigative Journalists (ICIJ) in Washington DC
Documents show how, following the November 2016 Regency hotel shooting, the gang planned to set up a “commodities” business at the Dubai Multi Commodities Center (DMCC).
A due diligence report shows how Dubai authorities labeled Daniel and Christopher Kinahan Jnr’s business plan as ‘low risk’, adding that it was ‘ok to proceed’.
Dubai DMCC zone is a free trade zone established in 2002.
Another branch of their business, in a jurisdiction separate from the United Arab Emirates, would trade in clothing and textiles.
Records show that authorities, despite widespread media coverage showing that Christy senior and her two sons were involved in drug trafficking, approved Kinahan’s business plan.
Their business plan outlined how “Haizum General Trading Co. LLC” would import food from Brazil, Thailand, India, China and East Africa to Persian Gulf countries and -of the.
“We also hope to eventually expand into the edible oil, pasta and even poultry business, if we can line up potential leads, potential customers and profitable deals for these products,” the plan says. ‘business.
“We plan to incorporate the business with a physical office from the outset, as we plan to employ a staff of seven employees,” he added.
They expected to earn $6.8 million in the first year and said shareholders have several other ‘supporting’ businesses in the UAE and ‘wish to expand the size and scale of their operations over the course of the year. coming”.
According to the records, the reason they chose to settle in the DMCC was to have an “international sales office, to promote the Haizum business, and to trade various agricultural products around the world.”
It also showed that Daniel was to own 30% of their LLC, with 19% owned by Christy Jnr and the rest by a UAE national, Hadif Al Ktebi.
Indeed, until recently, UAE laws governing business stipulated that more than 50% of the business must be owned by an Emirati partner.
A copy of the contract, obtained by the ICIJ, said the company had starting capital of around $100,000.
The leaked documents come as the US State Department announced a $5 million reward for key information leading to the dismantling of the Kinahan gang.
They offer the reward for information “leading to financial disruption” of the transnational Kinahan crime group, or the arrest and conviction of its leaders.
The three leaders of the gang are appointed by the authorities as Daniel Kinahan, who runs the day-to-day operations, his father Christy Kinahan Snr who arranges property purchases, and Christy Kinahan Jnr who oversees their finances.
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