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Secret buyers of luxury properties in Britain face jail in new crackdown

LONDON: Frontmen who help wealthy investors from Russia and other states use foreign shell companies to hide the ownership of luxury London properties face up to two years in jail and unlimited fines, Britain’s government said on Thursday. The punishments will be included in draft laws to be passed in the summer that will compel foreign companies which own or buy property to disclose their ultimate owners in a bid to crack down on money-laundering. Investors from Russia, China and the Middle East have poured billions…