Russians in Paradise: Who is in Paradise Papers List?

After this text, it will seems that absolutely the whole business is in offshore jurisdictions
21.11.2017
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The OffshoreLeaks database replenished with documents from the latest leak – Paradise Papers. In the papers, which “ran away” from the offshore law firm-giant Appleby, there are names of Russian businessmen.


ALEXANDER SHOKHIN – Renaissance Capital

The President of the Russian Union of Industrialists and Entrepreneurs, member of the party United Russia owns a company called Renaissance Holdings Management Limited in Bermuda since June 17, 1999. In December of the same year, he became a deputy of the State Duma.

Shokhin became chairman of the supervisory board of Renaissance Capital in 2002, as it is said in his official biography. It also says that he performed his duties on a voluntary basis.

The question arises: why would then the current State Duma deputy need an offshore?

In addition to Renaissance Management, there are nine Renaissance companies in the Paradise papers:

MAMUT AND VEKSELBERG

Pascalis, Gardner & Partners Ltd. Belongs to the top managers of warehouse real estate developer called MLP - Michel Pascalis and Bruce Gardner – according to the advert banners. Bruce Gardner worked in Renaissance Capital until 2002.

Pascalis worked together with the company MLP, an international logistics partnership. MLP’s shareholders, as Vedomosti found out, are Alexander Mamut, Viktor Vekselberg and Igor Kolomoisky, who is the owner of the Ukrainian group of companies Privat.

The owners of the Bermuda company Pascalis, Bruce Gardner and Alexander Karpushin, who is registered in Moscow. He is listed as the director of MLP-Sibir LLC, which, in turn, belongs to International Logistic Partnership LLC and Cyprus Tinn Investments Limited.

Tinn Investments, in turn, owns MLP. The company still exists.

Bruce Gardner also owned FRCC Holdings (Bermuda) Limited (closed in 2011) and GP Management Holdings Ltd (closed in 2010). Together with a partner from the Renaissance, Anton Kudryashov, he owns Centaur Investments Limited, which existed from 1995 to 2010 in Bermuda.

VADIM GINER - CSKA

Vadim Giner is the son of Eugene Ginner, the president of the Moscow football club CSKA. He is the one who owns a football club, as it turned out in the reporting of Bluecastle Enterprises Limited. Vadim owns 75% of the British company.

According to the database SPARK, Giner Jr. is the head and co-owner of a number of enterprises, including energy and construction companies. He also is the chairman of the Board of Directors of the Luxembourg company Karvis International SA, the other directors were Giner Sr., and also a certain Marina Yaroslavskaya. In addition, Vadim Giner is the Director of Luxembourg Sensei International.

In the past, Giner Jr. also held executive positions in several other Luxembourg companies, including Financiere Epidus and Financiere Egine. In them, as a member of the board of directors, the Latvian V.D. Nominees (provides services of nominee directors or nominal founders) is listed. It was this company that figured in the Panama Papers as a liaison between NYX Management, whose shareholder is Eugene Giner, and AED International, registered in 2005 on BVI in the name of former State Duma deputy Alexander Babakov.

In the Paradise Papers one more offshore owned by Giner Jr. popped up – Marimax Jets Limited, established on June 30, 2008. In 2011-2012, the director of this company was Grek Artem Gennadievich. According to SPARK, his full namesake together with the company Alltru Invest SA (Marshall Islands) established ComAir in 2007.

The father's name is also in the files: along with his son, he is listed in Vacuna Jets Limited, also registered in Bermuda. Since 2009, Giner Jr. is the permanent director and president of the company. The official address of the entity is in Berlin.

AND OTHER CSKA AFFILIATES

Eduard Mordukhovich, the CEO of the telecommunications company Infotel, turned out to be the owner of Aurora Communications Ltd. Also Mordukhovich is the head of Jockey Klad Racing. He owns several jockey clubs in Moscow.

Mordukhovich’s partners in offshore and in life are Peter Shulenkov (also managed Infotel) and Tanya Greiner. 

ALEXANDER KRINICHANSKY – TRANSAERO

Transaero Airlines stopped operating almost two years ago. In September 2017, the court declared the company bankrupt and introduced a bankruptcy procedure for six months. At that time, creditors' claims amounted to 329 billion rubles.

On June 8, 2017, the court of the Southern District of Florida ordered the former top managers of Transaero to testify on the MTS Bank's subpoenas related to the company's accounts and the fate of its assets. MTS-bank was interested in salaries of former managers of the company, real estate, as well as the situation with loans and dividends. The airline owes the bank 4.1 billion rubles.

Former CEO of Transaero Alexander Krinichansky lives in Florida. The company Sky Ocean owned by ex-chairman of Transaero’s Board of Directors Alexander Pleshakov is also registered there. Sky Ocean purchased real estate in the city of Riviera Beach for many millions of dollars.

The Paradise Papers revealed one more detail of the scandalous bankruptcy: Krinichansky had a company called Transaero Airlines company in Bermuda. It was registered in 2007.

Also, Krinichansky owns Aircraft Financial Leasing Limited, which was established in 2007 as well. It was affiliated with the Transaero Group.

ALEXANDER GALITSKY– RUNA CAPITAL

Runa Capital is an international venture fund investing in early stages start-ups. They invested in the English language online service Lingualeo, the complaints service Angry Citizen and Rocketbank.

The Paradise Papers have a company of the same name, registered in the Cayman Islands. Among the co-owners, there are the namesakes of the managers of the venture fund: Dmitry Chikhachev, Sergei Belousov, Ilya Zubarev. In addition to them, Vera Shokina and Alexander Galitsky are also the co-owners of the offshore company.

Shokina is the managing director of Silicon Valley Banks's Global Gateway group. Before joining SVB, she was a partner, financial director and chief operating officer at Runa Capital.

Galitsky is the managing partner of Almaz Capital Partners, co-founder of Runa Capital and a member of the Council of Skolkovo Foundation. By the way, the official address of the most influential person in the Russian IT industry according to Forbes in 2011 was in the Netherlands.

OnAir3G Holdings Ltd. Bermuda is owned by Alexander Vasilyevsky, the ex-head of mobile mail.ru and Yandex. The venture fund Runa Capital invested $ 2 million in it in 2010.

YURI ANTIPOV – ARIANT

Yuri Antipov and his wife Lyudmila owned the Bahamian company SAM Services (PTC) Limited. The company was established in 2011 April and closed in January 2012.

Antipov ranks 155 in the rating of the richest businessmen of Russia in 2012. At that time, he owned the Chelyabinsk Electrometallurgical Combine (49.7%), Kuznetsk Ferroalloys (49.4%) and the agricultural firm Ariant (78%).

His partner Alexander Aristov, together with his wife, owned EA Services (PTC) Limited. The company also operated from April 2011 to January 2012. 

ALSO IN THE LISTS

Cherkizovsky AIG Limited was established in 2004. The company in Bermuda belongs to the chairman of the board of directors of Evgeny Mikhailov’s Cherkizovo group and the group's CEO Sergei Mikhailov. Mikhailov brothers are the sons of Igor Babayev, the founder of the holding.

PJSC Cherkizovo Group includes seven poultry farms, 15 pig farms, six meat processing plants, six feed mills and more than 100,000 hectares of agricultural land.

Also, the lists of the company’s beneficiaries include the CEO of the Cherkizovsky meat processing plant, Igor Babaev and Lydia Ilyinichna Mikhailova.

DFG Holdings International Limited in the Bermudas belongs to heads of Derzhava Bank Vladimir and Victor Gusarov and their partner Sergei Yents. The company lasted only a few months in 2003.

Silver Jet Limited belongs to Sergey Shklyanik, who probably is the former senior vice president of the Volga-Dnepr Group of Companies, the air carrier of super-heavy and bulky cargo owned by Alexei Isaikin (160th place in the Forbes list). Isaikin is also a co-owner of an offshore company. As well as Tatyana Arslanova and Andrei Kolesnikov.

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