A Cyprus company that stands to receive 60% of the profits from IC Expert, the developer that signed the 2015 Letter of Intent to build Trump Tower Moscow City, was once registered at the same address as a Russian oligarch who laundered hundreds of millions of dollars.

Colinsen Trading Limited LLC’s legal address was once located at 12 Kennedy Business Center, 2nd floor, P.O. Box 1703, in Nicosia, Cyprus, according to official financial documents. The Kennedy Business Center is a modest six story building in the Cypriot capital. Various companies use the Kennedy Business Center’s offices and the use of the building is not nefarious in and of itself.

The exact same address, down to the floor and P.O. box number, was used by a shell company owned by Russian oligarch Sergei Pugachev, who laundered more than $200 million through the Cyprus company. According to the Russian government, Pugachev used the bank he co-founded to loan his own companies large amounts of money, knowing that the loans would never be repaid. In all, more than $2 billion was laundered.

Vladimir Putin left, Sergei Pugachev, right

The company in question, Diagoras Nominees Limited, acted as an intermediary for Pugachev to disperse the money to dozens of companies. It is registered at at 12 Kennedy Business Center, 2nd floor, P.O. Box 1703, in Nicosia, Cyprus. Pugachev fled to London and then to Nice, France to avoid prosecution by the Russian government. In July, Switzerland opened a money laundering investigation into Pugachev, and in October the UK High Court ruled that the former Former ‘Kremlin banker’ sheltered wealth in offshore accounts with intention to mislead. Russia still seeks his extradition.

The revelation comes as more suspicious details about IC Expert, the developer with whom Trump and Michael Cohen signed a Letter of Intent to build Trump Tower Moscow in October 2015, are uncovered. Andrey Rozov founded the company in 2005, while he served on the board of Mirax, a real estate company whose owner also fled Russia amid accusations of fraud and money laundering. Early records show that Rozov’s company was originally 99.9% owned by Colinsen Trading Limited. From this, it appears that Rozov is the beneficiary of the Cypriot company.