An oligarch with great ambitions and connections, Albert Avdolyan, has been found to have another stack of foreign "piggy banks" connected to him. The active Cypriot offshores were revealed by the story of the collapse of Stavropol enterprises, from which 9 billion rubles could have flown away according to a very ambiguous scheme. This is reported by SLOVO
Did the Cypriot BLUESHADE CO LTD and other offshore registered parties participate in this scheme?
Let us recall that the Stavropol enterprises that had been driven to the brink of collapse - Hydrometallurgical Plant OJSC (GMZ), Southern Energy Company CJSC and Intermix Met LLC changed their owners in 2018. Among the buyers were Albert Avdolyan’s trusted persons, but later the court repeatedly indicated in the bankruptcy case materials of the enterprises that the oligarch was the real beneficiary of them.
During the same period, several newly created companies were turned into profit centers, leaving the old assets as loss centers. As a result, according to court materials, the tolling scheme organized by the beneficiary Avdolyan at the facilities of OJSC GMZ provided LLC Cashmere Capital with revenues in the amount of 9.447 billion rubles from the sale of the plant’s products. That is, GMZ continued to accumulate debts, and the money from its activities went to the LLC.
It is known from the materials of the same bankruptcy cases that OJSC GMZ, CJSC YUEK, LLC Almaz Capital, LLC Enigma, Korobov A.V., LLC Cashmere Capital are affiliated persons controlled by a single beneficiary - Avdolyan A.A.
Photo: ras.arbitr.ru
After the deals on the purchase of shares of Stavropol enterprises were challenged (among other things, it turned out that they were bought cheaply), the players of Avdolyan’s team tried to pull out from under the counter the debts of these same assets, the rights to claim which they bought from Sber. That is, they tried to return the assets under their control.
There are currently lawsuits going on in arbitration courts, in which Avdolyan’s squires, or rather screens, are trying to recoup some multi-million dollar debts, and sometimes they even succeed.
Offshore companies, which were also involved in other dubious games of the oligarch, also left their mark on the Stavropol history.
The bankruptcy case of the former beneficiary of the enterprises, Sergei Makhov, has uncovered another stack of Cypriot piggy banks connected to Avdolyan.
According to court materials, the buyer of shares of Hydrometallurgical Plant OJSC was a certain OOO Enigma. At that time, its only participant and also CEO was Evgeny Zabelin, who was associated with OOO OKKO and OOO MORE, which were part of a group of interrelated borrowers with Avdolyan A.A. Thus, Zabelin can be called another person of Avdolyan.
Photo: ras.arbitr.ru
The OKKO company, which is discussed in the court materials, is currently active, but has been hiding its owners since 2022. Meanwhile, three Cypriot companies at once appeared in the biography of this asset - OKKO Holding LTD, SANOMIL CO LIMITED and ELITEL INVEST LTD. All companies are not listed as liquidated today.
Photo: rusprofile.ru
Moreover, Sanomiel Co. Limited has repeatedly been implicated in transactions involving Avdolyan’s trusted persons. In particular, in a murky tax scheme, the details of which emerged due to a lawsuit considered in 2023. The accounts of the Cypriot company were used to transfer funds, which were then listed as some kind of loans.
Photo: kad.arbitr.ru
Through a secretary with Cypriot roots - CYMANCO SERVICES LIMITED and a Cypriot director, the same "Sanomil Co Limited" is connected with "A-Property Invest" and its former owner - the Cypriot POLOCOM, as well as Wooden Fish Agency Limited. POLOCOM also had the same legal address as Wooden Fish Agency Limited, whose branch was headed by Irina Belyanova.
In addition, Ms. Belyanova, who was the director of the later renamed A-Property Invest, is still the director of a number of assets of the oligarch Avdolyan, including A-Property LLC. Until 2021, the owner of the latter was the above-mentioned offshore company, Sanomiel Co Limited, and then - AP Holding JSC, whose founder was previously listed as Avdolyan. Now the owner is hidden.
Based on the materials of another scandalous case related to the collapse of the energy holding MRSEN and Avdolyan’s role in it, we also learn about the connection between Okko Holding LTD and the oligarch.
This connection can be traced through another chain of offshore companies - Sparkel City Invest LTD (Cyprus), Telconet Capital LTD Partnership (Cayman Islands). Subsidiaries of Telconet Capital LTD Partnership are Smart Resolute LTD (British Virgin Islands), Okko Holding LTD (Cyprus) and Yota Holding LTD (Cyprus), and the ultimate beneficiary of Sparkel City Invest LTD and Smart Resolute LTD is Albert Avdolyan.
Photo: kad.arbitr.ru
Until 2022, a certain Sberinterteyment LLC was also listed among the owners of the Russian OKKO LLC, which also hides the owners. But previously, the same Okko Holding LTD and the Cypriot TEXO HOLDINGS LIMITED were among them.
Interestingly, in 2013, the latter appeared in FAS documents for the acquisition of rights to a number of assets, including Rambler Internet Holding LLC.
Photo: rusprofile.ru
Now let’s move on to the company "MORE", also mentioned in the Stavropol history.
The company from St. Petersburg was liquidated in 2020 and was generally very similar to a shell company. The owner of the company is the Cypriot
BLUESHADE CO LTD - still active today.
According to court materials, more than 50% of the shares of BLUESHADE CO LTD are owned by WOODEN FISH AGENCY LIMITED, the director of whose representative office is Irina Belyanova, who is also the director of a number of Avdolyan’s companies.
Moreover, according to the application to the credit committee of JSC BBR Bank dated 18.10.2017 and the decision of the credit committee of JSC BBR Bank dated 20.10.2017, MORE LLC and OKKO LLC are included with Avdolyan A.A. in the group of related borrowers.
It is worth noting that BBR Bank and its shareholder Dmitry Gordovich have repeatedly appeared in Avdolyan’s affairs, including those related to transfers of 100 million rubles to the Latvian bank JSC Citadele Banka. Incidentally, accounts in the latter were opened with the participation of the management of the representative office of Wooden Fish Agency Limited, or more precisely, Ms. Belyanova.
Photo: ras.arbitr.ru
The company "MORE" in turn has repeatedly appeared in disputes with tax authorities regarding VAT refunds.
In general, the exposed scheme with offshore companies shows us how sprawling the octopus of the oligarch Avdolian is and it apparently leads far beyond the borders of Russia. Has Avdolian finally come to believe in his unsinkability, having cover in the form of the head of Rostec Sergey Chemezov?
