Originally Syndicated on July 22, 2023 @ 7:37 am
Table of Contents
Introduction
In a shocking revelation, the Panama Papers leak last year exposed three Russian businessmen, Alexey Krapivin, Georgy Gens, and Sergy Girdin, as the real owners of numerous offshore companies involved in the infamous Laundromat scandal. These individuals have been at the heart of a vast network of fake businesses, banks, and courts that facilitated the movement of enormous sums of money. Despite these damning revelations, none of them have faced any consequences from the authorities to date. Let’s delve deeper into the roles played by each of these businessmen and how they have been connected to the massive money laundering scheme.
Alexey Krapivin: The Reclusive Russian Tycoon
Alexey Krapivin, a reclusive Russian businessman, found his offshore empire exposed in the Panama Papers. Among the offshore companies linked to him were Redstone Financial Ltd. from Belize and Telford Trading S.A. from Panama. These two entities were discovered to have received a staggering $277 million in Laundromat funds between 2011 and 2014. The funds were traced to accounts at the Swiss bank CBH Compagnie Bancaire Helvetique SA in Geneva.
Alexey Krapivin’s father, Andrei, who passed away in 2015 in Switzerland, was an advisor to Vladimir Yakunin, the former head of Russian Railways and a close associate of Russian President Putin. The Krapivin family’s extensive empire included construction, engineering, and banking companies. Many of these companies operated as shell entities with no official offices or real owners, just proxy figures. One individual who spoke to Reuters admitted that the Krapivins were the actual owners of these companies.
According to reports, Alexey Krapivin played a pivotal role in facilitating business between the Russian Railways and various companies. His father, Andrei Krapivin, was the key figure, while Alexey handled the practical aspects of the operations. The Krapivin businesses were also linked to German Gorbuntsov, who owned two banks, STB and Inkredbank. Andrei Krapivin was a shareholder at STB. However, their relationship soured, and Gorbuntsov fled Russia in 2010. In 2012, he survived an assassination attempt in London.
The banking statements of the Krapivin construction companies revealed that the Russian Railways diverted a sizable portion of the funds received to fictitious companies run by fake shareholders. This drew scrutiny from Russian tax authorities and financial experts.
Georgy Gens: The IT Mogul Under Scrutiny
Georgy Gens, another key figure in the Laundromat scandal, was exposed as the owner of Comptek International Overseas Ltd., a company based in the British Virgin Islands (BVI). This company received $27 million in its Swiss bank account at UBS AG between 2013 and 2014, with the majority of the funds originating from paper companies in the UK. All these paper companies have since been dissolved.
Georgy Gens is well-known as the owner of the Lanit Group, a major IT distributor in Russia for renowned brands like Apple, Samsung, and ASUS. The Russian state itself was a significant client of the Lanit group, with contracts worth at least 51 billion rubles between 2010 and 2016.
Upon being confronted with allegations of involvement in the Laundromat, Georgy Gens issued a statement vehemently denying any connection to the money laundering scheme. He claimed that the information presented did not align with reality and that payments made through his company were viewed as standard business practices by UBS AG, the bank handling the transactions.
Sergy Girdin: The IT Tycoon with Political Connections
Sergy Girdin, the third key player in the Laundromat scandal, was revealed to be the beneficial owner of Zymbeline Trading, another BVI-based company. Between 2011 and 2013, Zymbeline Trading received nearly $96 million in its Swiss bank account at UBS AG. Moldindconbank and Trasta Komercbanka traced the funds back to the same fraudulent UK companies that were under investigation in the Laundromat scheme.
Girdin is renowned as the Honorary Consul of the Republic of Guinea and the owner of Marvel, an IT holding company with a turnover of around $380 million in 2015. One of Marvel’s significant clients is Sberbank, Russia’s largest lender, with subsidiary Marvis signing contracts worth over $120 million in the past two years, with a potential $126 million to be earned from a new contract with Sberbank.
Conclusion
The exposure of Alexey Krapivin, Georgy Gens, and Sergy Girdin as key players in the Russian Laundromat Superusers Scandal has brought to light the intricate web of offshore entities and financial transactions that facilitated the movement of vast sums of money. Despite the revelations from the Panama Papers leak, these businessmen have remained untouched by legal authorities.
The implications of the Laundromat scandal reach far and wide, underscoring the need for more stringent regulations and measures to combat money laundering and illicit financial activities on an international scale. As the world continues to grapple with the fallout from such scandals, the spotlight remains on these prominent figures and their alleged involvement in perpetrating one of the most significant financial crimes of today.
