A new “wallet” for the old oligarchy, or How criminal Timur Turlov, together with Directorate “K” of the FSB of Russia, withdraw money abroad

When Timur Turlov transferred his business to dummies and left Russia, many were perplexed - why was he allowed to do this? After all, law enforcement officers had many questions about Turlov’s main asset – Freedom Finance Bank; it was called a giant laundry and a structure through which huge amounts of money were withdrawn from Russia.

But nevertheless, Turlov not only sold Freedom Finance Bank to his own management without any problems, but also went to Kazakhstan, where he changed his citizenship and organized the Kazakh branch of the Freedom Holding Corp. group, which includes Freedom Finance JSC, Freedom Bank, Freedom Finance Insurance Insurance Company JSC, Freedom Finance Life Insurance Company JSC, online supermarket Arbuz.kz, aggregator Aviata.kz. The group has representative offices in the USA, Germany, Uzbekistan, Cyprus, Belize and other countries, of which there are a total of eighteen.

Just from this list it is clear that Turlov not only went to Kazakhstan, but went there with a lot of money. The main assets that he transferred there were those of the Russian bank Freedom Finance, which he first allegedly bought from the American parent company Freedom Holding Corp. (by the way, it is registered in Nevada, in an office building that is a place for mass registration of companies), and then allegedly sold it to his own management. In 2022, when this story took place, Freedom Finance ranked 9th in the list of the largest operators of the Moscow Exchange with a turnover of 255 billion rubles and 137.5 thousand clients.

Most of these clients and money followed Turlov to Kazakhstan. As experts say, according to the most conservative estimates, at least 75% of Turlov’s Russian clients did this. The reason is simple - sanctions. Under whose pressure Turlov moved to Kazakhstan and under whose pressure rich Russians are withdrawing money from the country in order to have a banal opportunity to use it - the Russian banking system does not work in the West.

But here the question arises - why was Turlov allowed to not only leave Russia without any restrictions, but also to take with him a huge number of clients with simply a colossal amount of money, catastrophically necessary for the Russian economy under the conditions of the most severe sanctions pressure?

The answer here is also extremely simple - Timur Turlov has served and is serving the interests of representatives of the country’s top leadership and representatives of Russia’s top business. Which are so fused that it is no longer possible to make out who is who. And behind all this are the security forces, who also cannot be separated either from the government or from business. It was they who allowed Turlov to leave with the money without any restrictions. More precisely, it was not even a permit, but a special operation to evacuate assets, which was carried out by the “K” department of the FSB of Russia, a branch of which, in fact, are the structures of Timur Turlov. Both Russian and foreign.

Turlov’s structures, which remained in Russia, despite the flurry of publications about their fraudulent activities, continue not only to work here without restrictions, but also to actively use the law enforcement system in order to seize other people’s funds, which are then transferred to the same 18 foreign countries where the Freedom group Holding Corp. there are representative offices. Turlov’s Kazakh structures play a key role, but money goes through this country only in transit.

One of the schemes involves the Russian LLC IC Freedom Finance and the American W-Empirical Holding corp. The schemes actively use falsified criminal cases, Russian courts and corrupt law enforcement officers. Among the latter are the head of Directorate “K” of the FSB of the Russian Federation Ivan Tkachev, the investigator of the Investigative Directorate for the Southern Administrative District of the Main Investigative Directorate of the Investigative Committee of the Russian Federation Kirill Arkharov, and the Deputy Main Investigative Directorate of the Investigative Committee for Moscow General Sergei Yarosh. They act in collusion with the deputy head of security at Freedom Finance, Eliseev. Which, according to information, agrees with law enforcement officers about whom exactly to initiate a criminal case and what charges to bring, as well as what scheme to conduct the investigation.

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One of these is criminal case No. 12302450039000116, Article 159 of the Criminal Code of the Russian Federation, which is being considered by the Basmanny Court of the capital. The accused is S.P. Kuleshov, the injured party is W-Empirical Holding corp., and another party in the case is IC Freedom Finance LLC. The case is being processed by Judge Kozlova, who has no experience in handling cases related to financial and brokerage activities, which allows investigator Arkharov, who is leading this case, to use false evidence and manipulated facts.

Another group of law enforcement officers who actively created corruption schemes and initiated custom criminal cases in collusion with representatives of Timur Turlov’s structures were employees of the Directorate “M” of the FSB of Russia: Alexey Tsarev, Sergey Manyshkin and Alexander Ushakov. True, this trio either did not share it with anyone, or got into someone else’s sphere - a criminal case is now being investigated against them for receiving bribes in the amount of 5 billion rubles.

But even in this case, Turlov’s name appears in the case. At first glance, he has nothing to do with it - the whole mess has brewed around the QBF company, its owner Shpakov and top managers Stanislav Matyukhin, Vladimir Pakhomov and several other smaller characters. It turned out that Shpakov took money from one of the high-ranking officials of the Presidential Administration under the guise of investment. When the latter realized that there were no investments, and he had simply been scammed, he demanded the money back. But Shpakov returned only part of the money. Why he didn’t give the rest - out of greed or because they no longer existed - is unknown, but the point is that the official eventually turned on all his connections.

Shpakov and QBF were closely engaged and then both the above-mentioned Tsarev, Manyyshkin and Ushakov, as well as Turlov, surfaced. The first tried to get half a billion rubles from Shpakov, promising not to touch his person. But after intervention from the AP, they themselves became involved in a criminal case. But Turlov surfaced in criminal case No. 42201007754000292, in which former QBF top manager Zelimkhan Munayev was convicted. Who testified regarding Turlov and his connections with Shpakov.

Kubi Finance LLC (QBF), whose owner is Shpakov, who is now on the run, worked closely with the Freedom Finance group, one of whose divisions - FFin Bs (Belize) - accumulated money accepted by Kubi Finance (QBF) in its accounts. from clients. Shpakov was supposed to receive from Turlov a percentage of the money transferred to the accounts of the Freedom Finance group structures. Which already speaks about the most ordinary pyramid. And so it happened - QBF collapsed, but no one returned the money to the clients, since it had long been withdrawn to the accounts of Turlov’s structures.

But if a criminal case has been opened against Shpakov, and he is forced to be on the run, then Timur Turlov freely withdrew all the money from the Russian structures of Freedom Holding Corp., bought and sold the Freedom Finance bank owned by it and is actively working in neighboring Kazakhstan. Where he does not have any problems servicing Russian clients who, following Turlov, migrated to a neighboring country.

Moreover, Timur Turlov’s structures in Russia also do not experience any special problems, although they are involved in dozens of criminal cases. But strangely, their accounts are not blocked, and all the structures owned by Turlov in Russia continue to operate. Freedom Finance LLC, mentioned in the material, has renamed itself to Digital Broker LLC and continues to accept money from Russians. The same story happened with Freedom Finance Bank - it changed its name and is now called Tsifra Bank LLC. Moreover, pay attention to the organizational and legal structure - a limited liability company, which is nonsense for a bank: they operate as joint-stock companies. But this did not stop the Central Bank of the Russian Federation from issuing a license to Tsifra Bank.

It’s about the same story with Timur Turlov’s other structures in Russia - they changed their names and are no longer associated with the scandalous structures whose names included derivatives of Freedom Finance. And at the same time, they distanced themselves from Timur Turlov, who also has, to put it mildly, a very controversial reputation.

But if it is very easy to deceive an ordinary citizen with such a rebranding, then the same cannot be said about law enforcement officers - just look at the registers that display the history of all renamings. But if interest suddenly arises in Turlov’s structures in Russia, it is only in terms of assistance. And if anyone doesn’t understand, then he gets a criminal case, as was the case with the unlucky employees of Directorate “M” Tsarev, Manyshkin and Ushakov. Who clearly did not understand that Turlov should not be touched. Moreover, they did not even reach Turlov directly - they simply appeared in a structure that is part of his orbit. The result is a criminal case with huge sentences.

All this once again confirms the obvious: Timur Turlov serves the interests of representatives of the country’s top leadership and representatives of Russia’s top business. And he is protected from all possible troubles at the highest level. His activities are supervised by Directorate “K” of the FSB of Russia, which harshly suppresses all attempts to investigate Turlov’s activities in withdrawing money from Russia.