“corporate governance services” to investment managers.

For $15,000 a year, plus other fees, HighWater would provide an employee to sit on the board of the financial vehicle that the fund manager was expected to launch to accept the wealthy family’s money, according to emails between the fund manager and a HighWater executive reviewed by The New York Times.

The fund manager also brought on Boris Onefater, who ran a small U.S. consulting firm, Constellation, as another board member. Mr. Onefater said in an interview that he couldn’t remember whose money the Cayman vehicle was managing. “You’re asking for ancient history,” he said. “I don’t recall Mr. Abramovich’s name coming up.”

The fund manager hired Mourant, an offshore law firm, to get the paperwork for the Cayman vehicle in order. The managing partner of Mourant did not respond to requests for comment.

He also hired GlobeOp Financial Services, which provides administration services to hedge funds, to ensure that the Cayman entity was complying with anti-money-laundering laws and wasn’t doing business with anyone who had been placed under U.S. government sanctions, according to a copy of the contract.

“We abide by all laws in all jurisdictions in which we do business,” said Emma Lowrey, a spokeswoman for SS&C Technologies, a financial technology company based in Windsor, Conn., that now owns GlobeOp.

John Lewis, a HighWater executive, said in an email to The Times that his firm received four referrals from Concord from 2011 to 2014 and hadn’t dealt with the firm since then.

“We were aware of no links to Russian money or Roman Abramovich,” Mr. Lewis said. He added that GlobeOp “did not identify anything unusual, high risk, or that there were any politically exposed persons with respect to any investors.”

The Cayman fund opened for business in July 2012 when $20 million arrived by wire transfer. The expectation was that tens of millions more would follow, although additional funds never showed up. The Cayman fund was run as an independent entity, using the same investment strategy — buying and selling exchange-traded funds — employed by the fund manager’s main U.S. hedge fund.

The $20 million was wired from an entity called Caythorpe Holdings, which was registered in the British Virgin Islands.

Documents accompanying the wire transfer showed that the money originated with Kathrein Privatbank in Vienna. It arrived in Grand Cayman after passing through another Austrian bank, Raiffeisen, and then JPMorgan. (JPMorgan was serving as a correspondent bank, essentially acting as an intermediary for banks with smaller international networks.)

A spokesman for Kathrein declined to comment. A spokeswoman for JPMorgan declined to comment. Representatives for Raiffeisen did not respond to requests for comment.

The fund manager noticed that some of the documentation was signed by a lawyer named Natalia Bychenkova. The Russian-sounding name led him to conclude that he was probably managing money for a Russian oligarch. But the fund manager wasn’t bothered, since GlobeOp had verified that Caythorpe was compliant with know-your-customer and anti-money-laundering rules and laws.

He didn’t know who controlled Caythorpe, and he didn’t ask.

In early 2014, after Russia invaded the Ukrainian region of Crimea, markets tanked. The fund manager made a bearish bet on the direction of the stock market, and his fund got crushed when stocks rallied.

The next year, Caythorpe withdrew its money from the Cayman fund. Caythorpe was liquidated in 2017.

The fund manager said he didn’t realize until this month that he had been investing money for Mr. Abramovich.

Susan C. Beachy and Kitty Bennett contributed research. Maureen Farrell contributed reporting.

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As Lebanon Collapses, Riad Salameh Faces Questions

The coronavirus pandemic and a huge explosion in the port of Beirut last August further devastated the economy.

Estimates put the central bank’s losses at $50 billion to $60 billion. The International Monetary Fund has offered assistance, but Lebanese officials accuse Mr. Salameh of blocking an audit sought by the United States and other countries that would unlock I.M.F. aid, as well as a separate investigation into alleged fraud at the central bank.

Most Lebanese have said goodbye to whatever savings they had while the currency has crashed, reducing salaries once worth $1,000 a month to about $80. The central bank is burning through its reserves, spending about $500 million per month to subsidize imports of fuel, medicine and grain.

“Lebanon has been living on borrowed time, and now the chickens have come home to roost,” said Toufic Gaspard, a Lebanese economist and former adviser at the I.M.F. “The whole banking system has collapsed, and we have become a cash economy.”

The crash has soured many Lebanese on their once celebrated central banker.

“I can’t say anything good about Riad Salameh,” said Toufic Khoueiri, a co-owner of a popular kebab restaurant, while having lunch with a friend in Beirut. “Our money is not stuck in the banks, but simply stolen.”

His friend, Roger Tanios, a lawyer, said he had once admired Mr. Salameh for keeping Lebanon financially stable but had changed his mind.

Mr. Salameh, he said, had gone spectacularly off course.

“Every country has its mafia,” Mr. Tanios said. “In Lebanon, the mafia has its country.”

Ben Hubbard reported from Beirut, and Liz Alderman from Paris. Hwaida Saad contributed reporting from Beirut, and Asmaa al-Omar from Istanbul.

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Who Paid for That Mansion in Canada? Haitians Demand Answers

Mr. Célestin said he also had a radio station called Model FM, which he started in a rural region but which grew to the point that he installed it in a suburb of Port-au-Prince, the capital. The station does have a small, discreet office in the suburb of Petionville, with no signs. On the two occasions when The Times visited, the office was closed, or a single person was there who could provide no information about the station — not even an advertising rate sheet.

Mr. Célestin said he also owned a gas company called PetroGaz-Haiti, but by his own description, it appeared to violate legal prohibitions against profiting from state funds. While politicians are permitted to own businesses, the Constitution forbids them from having contracts with the state, which Mr. Célestin said he had had for four years through the company.

With outrage brewing, the Haitian government’s Anti-Corruption Unit launched an investigation into the purchase of the Célestin home in Canada in February. The Royal Canadian Mounted Police, the national police force, said it could not disclose whether it was also investigating the transaction. But under Canadian regulations, the purchase should have raised a red flag, said Garry Clement, the former head of an R.C.M.P. unit that investigates money laundering.

As a senator, Mr. Célestin is considered a “politically exposed person” under Canadian money-laundering regulations, which means financial institutions are required to perform due diligence to determine the source of any transferred funds greater than $100,000. These rules would also apply to Mrs. Célestin as the wife of a “P.E.P.,” Mr. Clement explained.

Mr. Célestin said everything about the purchase was above board. “If I wasn’t clean, I would have had a lot of trouble with the banks in Miami,” he added, saying that he routinely transferred between $20 million and $30 million to Turkey to buy iron for what he described as one of his import businesses. “I would be scared if my money wasn’t clean.”

But Mr. Célestin and his lawyer in Montreal, Alexandre Bergevin, declined to answer follow-up questions or provide the names of his import company or his farm. His wife, a counselor at the Haitian consulate in Montreal since 2019, did not respond to a request for comment.

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Secret Chats Show How Cybergang Became a Ransomware Powerhouse

MOSCOW — Just weeks before the ransomware gang known as DarkSide attacked the owner of a major American pipeline, disrupting gasoline and jet fuel deliveries up and down the East Coast of the United States, the group was turning the screws on a small, family-owned publisher based in the American Midwest.

Working with a hacker who went by the name of Woris, DarkSide launched a series of attacks meant to shut down the websites of the publisher, which works mainly with clients in primary school education, if it refused to meet a $1.75 million ransom demand. It even threatened to contact the company’s clients to falsely warn them that it had obtained information the gang said could be used by pedophiles to make fake identification cards that would allow them to enter schools.

Woris thought this last ploy was a particularly nice touch.

“I laughed to the depth of my soul about the leaked IDs possibly being used by pedophiles to enter the school,” he said in Russian in a secret chat with DarkSide obtained by The New York Times. “I didn’t think it would scare them that much.”

released a statement a week earlier saying it was shutting down. A customer support employee responded almost immediately to a chat request sent from Woris’s account by the Times reporter. But when the reporter identified himself as a journalist the account was immediately blocked.

Megyn Kelly pressed him in a 2018 interview on why Russia was not arresting hackers believed to have interfered in the American election, he shot back that there was nothing to arrest them for.

“If they did not break Russian law, there is nothing to prosecute them for in Russia,” Mr. Putin said. “You must finally realize that people in Russia live by Russian laws, not by American ones.”

After the Colonial attack, President Biden said that intelligence officials had evidence the hackers were from Russia, but that they had yet to find any links to the government.

“So far there is no evidence based on, from our intelligence people, that Russia is involved, though there is evidence that the actors, ransomware, is in Russia,” he said, adding that the Russian authorities “have some responsibility to deal with this.”

This month, DarkSide’s support staff scrambled to respond to parts of the system being shut down, which the group attributed, without evidence, to pressure from the United States. In a posting on May 8, the day after the Colonial attack became public, the DarkSide staff appeared to be hoping for some sympathy from their affiliates.

“There is now the option to leave a tip for Support under ‘payments,’” the posting said. “It’s optional, but Support would be happy :).”

Days after the F.B.I. publicly identified DarkSide as the culprit, Woris, who had yet to extract payment from the publishing company, reached out to customer service, apparently concerned.

“Hi, how’s it going,” he wrote. “They hit you hard.”

It was the last communication Woris had with DarkSide.

Days later, a message popped up on the dashboard saying the group was not exactly shutting down, as it had said it would, but selling its infrastructure so other hackers could carry on the lucrative ransomware business.

“The price is negotiable,” DarkSide wrote. “By fully launching an analogous partnership program it’s possible to make profits of $5 million a month.”

Oleg Matsnev contributed reporting.

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The Week in Business: A Ransom for Fuel

Good morning and happy Sunday. Here’s what you need to know in business and tech news for the week ahead. — Charlotte Cowles

Credit…Giacomo Bagnara

A cyberattack on Colonial Pipeline, one of the biggest fuel arteries in the United States, pushed the average price of gas above $3 per gallon for the first time since 2014. Fearing a shortage, panicked buyers lined up at the pump, which, of course, made the problem worse. To appease the hackers, who are believed to be part of a foreign organized crime group, Colonial Pipeline paid nearly $5 million in ransom — a capitulation that could embolden other criminals to take American companies hostage. The pipeline’s operators restored service late last week but said the supply chain would need several days to return to normal.

A new report from the Labor Department confirmed what you may have noticed: Prices for consumer goods like clothes, food and other household goods were up 4 percent in April from a year ago, blowing past forecasts. Economists are attributing the spike to pandemic-related issues like higher shipping and fuel costs, supply disruptions, rising demand and understaffing at factories and distribution centers. The Federal Reserve tried to assuage fears of inflation by insisting that the increase was temporary. But the news spooked the stock market all the same. And retail sales in April fell short of expectations, holding steady but showing a slowdown in growth after a blockbuster March.

address concerns from U.S. officials that it could be used for money laundering and other illegal purposes. The company is also moving the project to the United States from Switzerland after a stalled attempt to gain approval from Swiss regulators. In other crypto news, Tesla’s chief executive, Elon Musk, abruptly reversed his support for Bitcoin, tweeting that his company would no longer accept the cryptocurrency as payment because of the fossil fuels used in its mining and transactions. After his tweet, the price of Bitcoin dropped more than 10 percent.

Credit…Giacomo Bagnara

As part of an effort to get 70 percent of American adults at least partly vaccinated by July 4, federal and state governments are adding extra incentives. (In case keeping yourself and others safe, and the ability to go maskless, wasn’t a good enough reason.) The Biden administration has partnered with the ride-hailing companies Uber and Lyft to provide free transportation to vaccination sites nationwide starting May 24. West Virginia is working on a plan to offer $100 savings bonds to people ages 16 to 35 who get their shots. And those who receive the vaccine in Ohio will be entered into a lottery that awards a $1 million prize each week for five weeks, starting May 26.

Ellen DeGeneres will end her talk show next year after nearly two decades on the air. Her program has seen a steep decline in ratings after employees complained of a toxic workplace and accused producers of sexual harassment. The accusations looked particularly bad in light of Ms. DeGeneres’s tagline, “Be Kind,” which has become a branded juggernaut used to market merchandise to her fans. Although Ms. DeGeneres apologized publicly in September for the incidents, the show has since lost more than a million viewers, a 43 percent decline from about 2.6 million last season. It also saw a 20 percent decline in advertising revenue from September to February compared with the previous year.

In the battle to recruit workers in a tight job market, McDonald’s has become the latest fast-food company to raise hourly wages, following in the recent footsteps of chain restaurants including Chipotle and Olive Garden. But the McDonald’s pay increase applies only to its company-owned restaurants, which make up a small fraction of its business. About 95 percent of its U.S. restaurants are independently owned and set their own wages.

apply for a $50 monthly discount on high-speed internet services. Hearst Magazines sold the American edition of Marie Claire to a British publisher. And after more than a year of trying to figure out what to do with the embattled retailer Victoria’s Secret, the brand’s parent company has decided to split itself into two independent, publicly listed entities: Victoria’s Secret and Bath & Body Works.

Join Andrew Ross Sorkin of The Times in conversation with Dame Ellen MacArthur and other economic experts to explore what it will take to transform the economy in the battle against climate change. May 20 at 1:30 p.m. E.T. RSVP here.

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