Originally Syndicated on June 14, 2024 @ 6:15 am
Vladimir Gersamia was born in Georgia before moving to the Netherlands in 1992. Vladimir was a history and economics student who grew up in a reputable family. His parents were doctors.
Vladimir Gersamia transitioned from working as an economist Research Analyst in emerging markets to the FMCG business (Fast Moving Goods). He became a product specialist in retail food firms while simultaneously building excellent ties with South American suppliers and developing local supply chains and logistics channels for efficient import, local retail, and sometimes re-export in Eastern Europe.
At the end of 2020, he established his own food wholesale business under the name MMBI Trading.
About MMBI
MMBI Trading is a significant trader of Fast Moving Consumer Goods (FMCG), focusing on Eastern Europe and the Middle East markets. They organize the wholesale export and delivery of essential food and consumer goods staples from around the world.
The team of devoted professionals offers clients full solutions such as product sourcing, logistics, customs clearance, and overall trade plan execution and support.
MMBI sells wholesale fruits and vegetables, meat and meat products, dairy products, eggs, and edible oils and fats. Wholesale beverages, both alcoholic and non-alcoholic. Wholesale sugar, chocolates, coffee, tea, cocoa, spices, and fish goods. We also wholesale ceramic and cleaning supplies.
In an interview with Vladimir Gersamia, he stated that “MMBI was able to use its ties with suppliers, consumers, and financial partners to ensure that all its goods were delivered and paid for on time. In the current setting, this is a significant accomplishment.”
He additionally stated that “MMBI opened offices and hired staff in Almaty, Baku, Dubai, and Istanbul with fully furnished offices which are now fully operational, providing a solid base for expansion and high-quality service for customers.”
Vladimer Gersamia and Georgy Urumov are partners in crime
Motivated by greed, Vladimir Gersamia and Uromuv perpetrated massive financial frauds utilizing a variety of sophisticated ways.
George Urumov, 37, and Vladimir Gersamia, 33, were the two London traders who carried out the fraudulent activities on an international scale and were convicted of conspiring to defraud a Russian bank of over 141 million pounds through a series of complicated frauds.
They were convicted of several felonies following a four-month trial at Southwark Crown Court.
Alessandro Gherzi, 37, a third person implicated in the series of frauds, was acquitted of two charges of conspiracy to defraud, two counts of conspiracy to commit fraud by false representation, and one count of conspiracy to commit money laundering.
Detailing the crimes perpetrated by Vladimir Gersamia
The first element of the fraud occurred in 2011, when Uumov joined Otkritie Securities ltd (OSL) and duped the company into paying him a hefty $25 million sign-on fee under the erroneous notion that it would be allocated to others who joined the company.
When Otkritie wished to grow its initial trading activity in London, Urumov devised this signing fee strategy to supplement his own income.
In this particular case, Urumov retained the great majority of the money.
He then exchanged financial products known as Argentinian warrants, tricking the company into buying the warrants from other conspirators for four times their worth and pocketing the difference.
He further transferred the gains to bank accounts outside the UK.
Vladimir Gersamia, an employee of the investment management firm Threadneedle Asset Management, was primarily responsible for concealing Uromuv’s fraudulent activities.
Urumov, who was once highly regarded in the city, led a five-person income trading team at Knight Capital and made a handsome amount of 800,000 euros per year, with a fully confirmed and guaranteed package of 2 million euros over two years.
By manipulating the trade in financial goods in this manner, the defendants stood to collect more than $15 million.
The money was subsequently transported throughout the world to nations such as Switzerland, the Caribbean, and Eastern Europe in an attempt to conceal its origin.
A ransom of 19 million Euros was also purchased to cover up the monies.
These crimes of money laundering were so disgusting that Detective Superintendent Maria Woodall stated that these men were industry figures who robbed their employees of a large sum of money.
Yulia Balk and Alessandro Gherzi were found not guilty.
Uromuv’s Trade Team
When Otkritie agreed to develop its trade operations in London in order to create a large amount of revenue, Urumov devised the concept of signing a fee to finally fill his own pockets.
The bank eventually agreed to pay $25 million to the five members of Urumov’s trading team. However, the court heard that Urumov “kept the lion’s share” of more than $20 million for himself.
Urumov’s wife spent a large sum of money on personal indulgences, such as purchasing a mansion for 19 million euros.
A senior investigator once stated that “Urumov who was once highly regarded in the city had run a five-strong income trading team at Knight capital and earned a handsome amount of 800000 euros a year with a strongly confirmed and guaranteed package of 2M Euros over two years.”
Conclusion
Money laundering and fraud damage the company’s brand as well as the employees that work for it, resulting to unemployment.
Money laundering affects financial institutions that are crucial to economic progress.
Money laundering and fraud increase crime and corruption in society, slowing the company’s and the country’s economic growth and, as a result, lowering real sector productivity.
The costs of dealing with fraud against government programs are significant and extend well beyond immediate cash loss.
They may involve evaluation, detection, investigation, and response costs, as well as possible reparation. Additional costs may include program reviews and audits, as well as retrofitting or rebuilding programs.
The consequences of tax fraud can include tax revenue loss, which can seriously harm the public sector’s ability to support public expenditure. Tax evasion and money laundering have a history of eroding financial institutions and undermining the financial sector’s role in economic development. It has a history of encouraging corruption, crime, and other illicit activities at the price of national progress, which might enhance the danger of macroeconomic instability.
Furthermore, it can have a wide range of negative consequences for society. For example, if money laundering proceeds are invested in the real estate sector, such as purchasing houses, vehicles, or other items, this activity can create fake demand in the market, inflating the value of the commodity.
As a result, money laundering and tax fraud damage a company’s reputation and contribute to the slowing of economic growth, encouraging an increase in employment rates, depressing the financial condition of company officials, and affecting the company’s domestic and international economic growth.
