BBC Chairman Richard Sharp reportedly invested in a Russian Oligarch-founded crypto company

According to reports, Richard Sharp, a former banker who has been serving as the chairman of BBC since February 2021, has invested in a crypto-related company started by a Russian oligarch via an offshore corporation.

It’s interesting to note that the ongoing conflict between Russia and Ukraine led to oligarchs coming under sanctions now. A report by The Guardian claims that Sharp invested in Atomyze, a company involved in the crypto industry, through a Cayman Islands-registered company.

A very well-known Russian oligarch named Vladimir Potanin founded Atomyze in Switzerland. Potanin, who is also known as the Nickel King, is well-known for his connections with the Russian prsident Vladimir Putin. He was also one of the businessmen summoned to the Kremlin when Russia invaded Ukraine.    

Sharp invested in ABCP GP Ltd.

According to reports, the 66 years-old Sharp used a Cayman Islands-registered company called ABCP GP Ltd. to invest in Atomyze back in 2019.

Users can trade commodities on the Atomyze platform, which uses blockchain-based technology, notably metals made by Potanin’s company. Sharp wasn’t the chairman of the BBC at the time, though.

A representative for BBC Chairman’s investment trust commented on the situation, stating that Potanin had no prohibitions at the time and that he had a “longstanding interest in a range of emerging technology.”

Additionally, Sharp had invested his money in a blind trust, which means a commitment to have a third party administer the money in order to entirely eliminate any potential conflicts of interest.

After Sharp was appointed BBC chairman, the arrangement was kept in place. Since its creation, this blind trust has effectively handled the interests of ABCP GP Ltd and Atomyze Switzerland with total independence from the BBC Chairman and under the trust’s exclusive control.

The spokesperson continued, “At this time, the blind trust and Sharp have no financial or directorial interests in any business owned and controlled by Mr. Potanin.”