Bill Browder, the financier and anti-corruption activist, has launched a stinging attack on the City of London, calling the UK financial hub a “magnet” for money launderers wanting to escape legal scrutiny.

Speaking at an exclusive event held by Private Equity News' sister title Financial News, the former hedge fund manager and outspoken critic of Russian President Vladimir Putin accused the UK authorities of “turning a blind eye” to international money laundering and effectively enabling London to become a safe haven for criminals.

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