As Western governments scrabble to identify the luxury yachts of sanctioned Russian oligarchs, the ownership of Scheherazade, a 495′ long superyacht, docked in Marina di Carrara, a small Italian town on the Tuscan coast, remains a mystery. Valued at $700 million dollars and almost as long as an Arleigh Burke-class guided-missile destroyer, Scheherazade is one of the 14th largest superyachts and is alone in that no likely owner has been publicly identified.
The New York Times observes that determining the ownership of assets that the wealthy want to keep hidden is difficult, especially without a warrant, because they are often zealously guarded by private bankers and lawyers and tucked away in opaque shell companies in offshore secrecy havens. The Scheherazade is flagged in the Cayman Islands and its owner, Bielor Assets Ltd., is registered in the Marshall Islands. The yacht’s management company is also registered in the Cayman Islands.
So while clearly a billionaire’s yacht, Italian authorities are asking, which billionaire? Continue reading