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Hunting Oligarchs – Italian authorities seize more superyachts and assets!

Jacob Weizman
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Hunting Oligarchs – Italian authorities seize more superyachts and assets!

FinTelegram reports that Italian law enforcement has seized villas and yachts worth at least €140m from four Russian oligarchs because the EU placed them on the sanctions list. They forfeited a villa owned by the billionaire businessman Alisher Usmanov on Sardinia and a villa on Lake Como owned by Vladimir Soloviev. The agents also seized superyachts belonging to Russia’s richest man, Alexei Mordashov and Gennady Timchenko.

According to Forbes magazine, Alexei Mordashov had an estimated net worth of $29.1B before sanctions hit. His 65-meter yacht Lady M is valued at €65m. Palmer Johnson in Monaco built the vessel, the Italian designer design house Nuvolari Lenard styled the interior. She was delivered to her owner in June 2013. The Italian agents impounded her in the northwest port of Imperia.

The Guardian reports that Gennady Timchenko’s superyacht, Lady Lena, worth €50m, was seized nearby Sanremo. Lady Lena is a motor yacht with a length of 52.0m. Sanlorenzo in Italy built it and delivered the superyacht in 2020. Timchenko made a fortune in oil trading. Vladimir Putin described him as one of his closest associates.

Authorities found Alisher Usmanov’s $600M Dilbert in Hamburg, Germany, and Igor Sechin‘s $140M Amore Vero in France. Please read this report here. Nothing hurts Russian oligarchs more than losing their luxury toys.

Stop The Ukraine War Now! How Kleptocrats Destroy Nations!

Charlene Lensburg
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Stop The Ukraine War Now! How Kleptocrats Destroy Nations!

Russia’s invasion of Ukraine is a war on the EU’s doorstep. The opponents Vladimir Putin and the Western allies are at odds over how it came about. For Putin, the NATO expansion and the threat it posed to Russia forced the invasion. The Western allies are currently taking massive action against the Russian oligarchs accused of corruption. They would have made their money only with the help of the Russian kleptocracy. However, we must not forget that Ukraine was a highly corrupt state looted by politicians and oligarchs. With the help of the Western allies!

Hunter Biden, son of then-Vice President and now President Joe Biden, was a member Board Member of Burisma Holdings Ltd of Russian politician and oligarch Mykola Zlochevsky between 2014 and 2019. He was a close ally to the former Ukraine President Viktor Yanukovych, who was removed from office in the Revolution of Dignity in 2014. Yanukovych fled to Russia. Zlochevsky allegedly stole state assets on a large scale through his Burisma Holdings and moved them abroad. Russian and Ukrainian oligarchs bought superyachts, luxury real estate in London, New York, or Monaco with the stolen money with the help of top law firms in the US and UK.

According to AP, Hunter Biden has been working as a director and top lawyer for Burisma Holdings when his father and others in the Obama administration attempt to influence the policies of Ukraine’s post-revolutionary government, especially on energy issues. Other top US lawyers connected to Republican and Democratic politicians have supported Ukrainian oligarchs in bringing the looting of their country. That’s a known fact.

Moneyland written by Oliver Bullough

Those interested in details should read the book Moneyland: Why Thieves and Crooks Now Rule the World and How To Take It Back by British journalist Oliver Bullough.

According to Ukrainian authorities, Mykola Zlochevsky is suspected of “theft of government funds on an especially large scale.” Authorities said the criminal investigation on suspicion of embezzlement is currently on hold because Zlochevsky’s whereabouts cannot presently be determined. According to an investigation by Al Jazeera he bought Cypriot citizenship under the Golden Passport scheme somewhere between 2017 and 2019. Why don’t the US and EU take action against him and freeze his assets?

On 2 March 2022, Ukrayinska Pravda reported that Ukrainian intelligence sources believed that Viktor Yanukovych was currently in Minsk, Belarus and that it was Russia’s intention to declare Yanukovych as President of Ukraine in the event of Russian forces gaining control of Kyiv.

The corruption and kleptocratic regimes in Russia and Ukraine have contributed significantly to this war in which the robbed Ukrainian citizens suffer. The oligarchs are long gone.

Stop this war, you damned kleptocrats!

Bravo! Malta Suspended Golden Passport Scheme For Russians!

bluechipper
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Bravo! Malta Suspended Golden Passport Scheme For Russians!

The European Commission and the United States said that they would be taking measures to stop Golden Passport schemes for Russians as part of the sanctions following Russia’s invasion of Ukraine. Consequently, Malta had to suspend the scheme for Russians and Belarusians in a dramatic change of stance. The suspension applies to Malta’s citizenship-by-investment scheme and a residency through investment scheme.

Prime Minister Robert Abela initially resisted calls to halt the scheme for applicants from Russia and its ally Belarus. He claimed that the program had raised hundreds of millions of euros and enabled Malta to give generous assistance to businesses during the COVID-19 crisis.

Foreign Affairs Minister Evarist Bartolo claimed that none of the Russian oligarchs sanctioned by the EU had received a Maltese passport. He argued that many Russian applicants to the Maltese scheme sought to escape Russian President Vladimir Putin’s regime.  

In 2019, the EU Commission that Golden Passport schemes posed money-laundering and organized crime risks. Malta has not listened to the warning and was consequently greylisted by the FATF in June 2021 because it has done far too little to prevent money laundering in recent years. The greylisting has had a massive impact on the country.  

Amid EU Sanctions Superyacht Polaris Arrived In Malta

bluechipper
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Amid EU Sanctions Superyacht Polaris Arrived In Malta

LoveMalta reports that Polaris, a 70-meter superyacht owned by Maxim Shubarev, arrived in the Grand Harbour the last week. Shubarev is the beneficial owner of Setl Group and has a net worth of $500 million. He is neither an oligarch nor part of a sanctions list dished out by the EU against Russian oligarchs. Shubarev purchased Maltese citizenship via the Golden Passport scheme in 2018.

Polaris hit the water in 2014 and was the second in the powerful Prince Shark superyacht series from the Italian builder Rossinavi.

Malta officials may be concerned about Maxim Shubarev and other Russian Golden Passport owners and their superyachts. The Polaris arrived just days after European Parliament President Roberta Metsola urged Malta to stop letting “Russian superyachts into our harbors.” Malta’s government has been facing serious questions over ties to Russia in recent days, particularly over the country’s controversial passport selling program. The scheme has been stopped for Russians and Belarussians; however, this came after intense public pressure. 

Malta has also one of the largest yachting registries in the world and is the preferred registered home for many Russians.

Leading FinTech Paysafe Presented Strong Q4 2021 Results!

Adrian Fuller
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Leading FinTech Paysafe Presented Strong Q4 2021 Results!

The stocks of the leading payment Paysafe (NYSE:PSFE) gained more than 17% following its fourth-quarter earnings, which beat analyst expectations. Paysafe is trading as Paysafe, NETELLER, Skrill, Rapid Transfer, and Skrill Money Transfer. The company booked revenue of $371.66 million, while analysts polled by Investing.com anticipated revenue of only $357.35 million.

Paysafe reported a total payment volume of $31.5 billion in Q4 2021, increasing 20% compared to the prior year. Net income attributable to the company was $90.3 million, compared to a net loss of $3.4 million in Q4 2020.

“We saw continued strong performance from US Acquiring and the turnaround of our digital wallet business is well underway with the actions we’ve taken driving positive results, repositioning the business for success, and enabling us to absorb market risks in Europe,” said Philip McHugh, CEO of Paysafe.

The company expects revenue for Q1 2022 between $355 and $365 million, with full-year revenue expected to be in a range of $1.53 billion t $1.58 billion.

Most recently, Paysafe attracted attention through its partnership with the world’s leading crypto exchange Binance. The company is expecting strong growth in high-risk segments such as crypto, financial services, travel, or iGaming. Through the partnership with Paysafe, Binance has access to the UK SEPA system, which the FCA does not like.

Bravo! French Authorities Seized Igor Sechin’s $120M Superyacht

Adrian Fuller
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Bravo! French Authorities Seized Igor Sechin’s $120M Superyacht

The Western alliance continues the beating of Russian oligarchs due to Putin’s invasion of Ukraine. The French government announced that it had seized the $120M superyacht Amore Vero. It is owned by the Russian oligarch Igor Sechin, CEO of Russian energy giant Rosneft. The French finance minister informed via Twitter that French authorities seized the precious vessel at a shipyard near Marseille. The EU sanctioned Sechin earlier this week, describing him as one of Russian President Vladimir Putin‘s “most trusted and closest advisors, as well as his personal friend.”

According to Superyacht Fan, Amore Vero has a value of $120 million. The Dutch shipbuilder Oceanco built the vessel, previously known as St. Princess Olga, and delivered it in 2013. It has a length of 85.5m and 2 MTU engines bring it to a top speed of 18.5 knots (21.2 mph/ 34 kph).

The authorities are after their prestigious superyachts. They are easy to track. In the last 48 hours, German authorities seized Alisher Usmanov‘s $600M Dilbert, and now the French took Igor Sechin‘s $140M Amore Vero. Putin is likely to come under pressure. Nothing hurts Russian oligarchs more than losing their luxury toys.

Read the full story on FinTelegram.

Strange! Russian-Maltese investment firm Exante and its activities!

Jacob Weizman
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Strange! Russian-Maltese investment firm Exante and its activities!

Exante Group is a Maltese-Russian investment and wealth management group with XNT LTD (previously known as Exante Ltd), regulated by the Malta Financial Services Authority (MFSA), and EXT Ltd, an investment firm regulated by CySEC. Exante has a long story of investigations by authorities. In 2021, the Russian Central Bank blacklisted Exante and its CySEC-regulated entity.

FinTelegram reported that the Exante companies are still operating despite the Russian ban. It is still listed as a member firm of the Malta Stock Exchange (MSE). Exante was the subject of an FBI investigation linked to a major US stock market manipulation case from 2015.

Exante was involved in a fraud complaint filed by the U.S. Securities and Exchange Commission (SEC) in 2015. It was one of the largest financial cybercrime networks of all times.” Nine defendants were brokerage customers of Exante and engaged in their allegedly illegal trading through an Exante brokerage account. According to the charges, dozens of traders from around the world linked to a hub in Ukraine illegally traded on insider information stolen by hackers from newswires. The allegations had also led to the temporary freezing of all the company’s accounts in Malta. The SEC dismissed its claims against Exante in February 2016

Alexey Kirienko (LinkedIn) and Anatoli Knyazev (LinkedIn) are the Exante founders and managers. The Offshore Data Base lists the latter with a registered address in Moscow, Russia. Exante CEO Alexey Kirienko was seen dining with former Malta President Marie-Louise Coleiro Preca in December 2015. The Russian-born Kirienko bought a Maltese passport in 2016.

In July 2017, Alexey Kirienko and Anatoliy Knyazev were guests of Prime Minister Joseph Muscat “to discuss the rise in cryptocurrencies and to discuss the launch of Exante’s cryptocurrency trading. Before he became Exante director, Joseph Zammit Tabona had served as Malta’s High Commissioner to the United Kingdom under the tenure of disgraced Malta’s former Prime Minister, Joseph Muscat.

Read the full story here on FinTelegram

The Western Hunt For The Oligarchs’ Superyachts!

Jacob Weizman
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The Western Hunt For The Oligarchs’ Superyachts!

FinTelegram reported that the Western alliance of the U.S. and EU are on the hunt for the luxury assets of the Russian oligarchs. U.S. President Joe Biden warned Russian oligarchs during his State of the Union address, saying that the U.S. will seize much of their wealth in the country. “We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets,” Biden said in his address. “We are coming for your ill-begotten gains.”

The seized superyacht

Russian oligarchs evidently move their superyachts to safe havens around the world as the West tightens sanctions over the invasion of Ukraine. A Forbes report said that German authorities seized the 156-meter (512-foot) Dilbar, owned by the Russian oligarch Alisher Usmanov. Dilbar is valued at $600m and is regarded as the largest motor yacht in the world by gross tonnage.

Heading for save havens

Barron’s reported that the superyacht Clio owned by Oleg Deripaska, a US-sanctioned Russian oligarch, arrived in the Maldives. The sunny island nation doesn’t have an extradition treaty with the U.S. Clio dropped anchor off Malé, the capital of the Maldives. The largest yacht currently in the Maldives is the 140-meter Ocean Victory, belonging to steel magnate Victor Rashnikov. Titan, owned by Russian billionaire Alexander Abramov, is also currently anchored in Male.

The 141-meter Nord, owned by Alexei Mordashov is currently in the Seychelles after reportedly sailing from the Maldives. The Rhapsody of Russian banker Andrey Kostin is also heading to the Seychelles. It’s not clear why the Russians would be moving their yachts to the Seychelles as it has an extradition treaty with the US and other countries, the SUN noticed. Meanwhile, Vagit Alekperov, president of Russia-based Lukoil, is sailing his Galactica Super Nova to Montenegro. Montenegro does not have an extradition agreement with the U.S.

Read the full story on FinTelegram

The Russian Oligarches’ Revolution Against Putin!

Jacob Weizman
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The Russian Oligarches’ Revolution Against Putin!

As Russia’s tanks rolled into Ukraine, Vladimir Putin gathered the Russian Oligarches in the Kremlin’s ornate Hall of the Order of St Catherine to discuss their response to sanctions. The Russian president seated meters away in a conspicuous social-distancing measure. Putin told them he would have no other choice but to invade Ukraine and if they wanted to keep their businesses, neither did they.

Mikhail Fridman, a founder of Alfa Bank, Russia’s largest private bank a, was sanctioned by the EU late. Fridman said that he would contest the designation, and that he isn’t politically or financially connected to Vladimir Putin. He is one of the country’s richest men and became the first of the Russian Oligarches to speak out against the conflict last Friday, calling for an end to the “tragedy” and “bloodshed.” Fridman, who was born in western Ukraine wanted the “bloodshed to end.”

Fridman’s call for peace was echoed by Oleg Deripaska, a billionaire who made his fortune in the aluminum business.”Peace is very important! Negotiations need to start as soon as possible!” Deripaska said.

Oligarch Roman Abramovich, who hasn’t been sanctioned, said that he was helping Ukraine negotiate peace with Russia. Oleg Tinkov, the billionaire founder of Russia’s Tinkoff Bank, a unit of TCS Group Holding PLC, highlighted the work his foundation does to help children and his desire for no war. Mr. Tinkov also hasn’t been sanctioned.

Read the full article on The Wall Street Journal

Russian Oligarch Roman Abramovich Hands Chelsea Stewardship To Charity Trust

Adrian Fuller
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Russian Oligarch Roman Abramovich Hands Chelsea Stewardship To Charity Trust

The Russian oligarch Roman Abramovich is the owner of Chelsea, a UK Premier League football club. He has invested more than £1B into the Stamford Bridge club since purchasing it in 2003. Abramovich will not be asking the club to repay the loans it owes him. Thus, the long-term future of the club remains secure. Due to the Russian invasion of Ukraine, Abramovich has handed “stewardship and care” of Chelsea to the club’s charitable foundation following Russia’s invasion of Ukraine.

MPs have called this week that Roman Abramovich should not be allowed to own Chelsea due to his alleged links to Putin’s regime.

Abramovich made his fortune in the years following the collapse of the Soviet Union. In Russia’s controversial loans-for-shares privatization program, he obtained state-owned assets at prices far below market value. Abramovich is a close confidant of Russian President Vladimir Putin.

On 28 Feb 2022, Abramovich was ranked the 141st richest man in the Bloomberg Billionaires Index. His total net worth is estimated to be around $14B.

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