Documents of the High Court of England and Wales fell into the hands of the UtroNews editorial office, from which the entire offshore pyramid of FESCO ties and an episode of possible participation in the history of the governor's confidant Oleg Kozhemyako are visible.
As previously reported by The Moscow Post, FESCO's new lawsuit against the Magomedov brothers ended in an amicable agreement. A loan debt of more than $1 billion was recognized.
Recall that the Magomedov brothers in 2022 were convicted of creating a criminal community and embezzling budget funds - more than 15 billion rubles. and already in 2023, at the suit of the Prosecutor General's Office, 92.4% of the shares of the parent company of the FESCO group, the Far Eastern Shipping Company, were seized from them and related legal entities. At the same time, it was stated in court that the interests of the brothers were represented by the shareholders of Loko-Bank Mikhail Rabinovich and Andrei Severilov, as well as offshore companies associated with them, therefore their blocks of shares were subject to seizure.
At the same time, the deprivation of shares did not prevent the same Severilov from later again becoming the head of the FESCO board of directors. But he did not sit in the chair for long - he was quickly brushed aside by new managers.
It is worth recalling that after the seizure of shares in state revenue, they were transferred to Rosatom. As UtroNews previously reported, not only the state corporation was in the black, but also a close partner of the state corporation Sergey Shishkarev, the main owner of Delo Group.
A year ago it became known that the Magomedov brothers, who did not admit their guilt, did not abandon attempts to return their assets. They alleged raider seizure and collusion, filing a lawsuit against former FESCO managers, current and former shareholders, as well as Rosatom. In this case, the Magomedovs valued their stakes in FESCO at $6 billion.
Offshore octopus
The materials of this case revealed a rather extensive octopus from the offshore Magomedovs and close associates.
So, after the arrest of the brothers, their interests were represented by a number of enterprises, including a branch of SGS UNIVERSAL INVESTMENT HOLDINGS LIMITED, which is registered in the British Virgin Islands. It was for this company that 49.9997% of FESCO's share capital was issued.
SGS, in turn, owned 65.09% of the authorized capital of Intimere Holdings Limited, and the remaining share in the latter was owned by Felix LP (formerly called TPG Felix LP and controlled by the investment company TPG) from the Cayman Islands.
In November 2020, TPG Felix LP was sold to ERMENOSSA INVESTMENTS LIMITED, which is controlled by Mikhail Rabinovich, a shareholder of Loko Bank, who was associated with the family of Yuri Kovalchuk (a shareholder of Bank Russia).
The Magomedovs' lawsuit also included Hellicorp INVESTMENTS LTD, which is owned by Intimere Holdings Limited. And Hellicorp owns SIAN PARTICIPATION CORP., which was listed in the liquidation process.
SIAN, in turn, owns Maple Ridge Limited, which owns WIREDFLY INVESTMENTS LIMITED, and that owns SMARTILIOUS CONSULTING LIMITED and ENVIARTIA CONSULTING LIMITED, for which stakes in SGS branch in FESCO were issued.
Among the defendants in this case were, among other things, the aforementioned Rabinovich, his partner Andrei Severilov, ex-shareholder Mark Garber, a group of offshore legal entities, Rosatom, FESCO, the former confidant of the Magomedovs - Leila Mamed Zade, as well as Katina Papanikolau - a Cypriot who was repeatedly associated with Severilov and his possible Cypriot companies. UtroNews has repeatedly mentioned her in investigations.
According to the materials of the court, Mr. Severilov and Rabinovich are DOMIDIAS LIMITED, which owns Merbau Synergy Limited, and that owns Cyprus Elvy Ltd. The latter is the owner of Vovosa Co Ltd (this legal entity had about 8% of FESCO shares), Mirihia Holdings Ltd (4.5524% FESCO), Calamita Trading Ltd (4.5524% FESCO) and Rikima Holdings Ltd (6.66%). Rabinovich also had shares (through Ermenossa) in two Russian firms - Novator Invest LLC and Nautilus LLC.
The court materials noted that Ms. Mamed Zade was in conjunction with DOMIDIAS and actually a shadow director, holding the position of general director of the Summa group of the Magomedovs. It was also reported that after Mamed Zade left the post of head of the FESCO board of directors, she was actually replaced by Severilov.
The brothers accused their former confidant of not preventing a number of transactions and allegedly transferring important information about the business to hostile parties.
Photo: provided by source UtroNews
Mr. Rabinovich in the lawsuit is called a participant in the raider seizure in the interests of Rosatom.
It should be noted here that Rabinovich was previously really close to Rosatom and, as Forbes reported, for example, his Siberian Titan previously developed titanium dioxide production on the basis of the Siberian Chemical Plant, which is part of Rosatom. And this is far from the only bunch. For example, the same publication noted that Rabinovich is well acquainted with the Kovalchuk, and they, in turn, are very friendly with the ex-head of Rosatom, Sergei Kiriyenko.
In addition, the court materials mention Rosatom's partner - DP World Russia, whose board member Sergei Chemarda was allegedly a director of Ermenossa and participated in some offshore transactions.
At the same time, DP World has already considered the possibility of investing in FESCO in 2017, which indicates the firm's interest, which, according to the latest data, is managed by Dubai World, owned by the UAE government, in this Russian asset.
Photo: provided by source UtroNews
Photo: provided by source UtroNews
Severilov is called a business partner and lawyer Rabinovich.
The plaintiffs also connected with the group of Rabinovich and Severilov, calling it a director of Ermenossa, Parallel Nominees Cyprus Limited and a nominal representative of Felix on the boards of Intimere and Hellicorp.
Recall also that at one time it was Ms. Papanikolau who shone in the scandal with the passport of the writer Tyulenev and the companies created on him, which he did not even know about.
Kozhemyako in business?
Interesting fact: Alexander Evdokimov was mentioned in the court materials as a possible participant in the Felix ROFO and SGS transactions.
Evdokimov is a business partner of the son of the Governor of Primorye Nikita Kozhemyako and a defendant in the Kozhemyako family companies, who now represents their interests in Vladmorrybport.
And allegedly even Evdokimov provided SGS with $35 million to acquire Felix's stake in Intimere on September 18, 2020.
Photo: provided by source UtroNews
The case file reported that at a high government level, through Kozhemyako, Evdokimov was offered to move away from this story and allegedly not interfere with Rosatom in the acquisition of FESCO shares.
Whether such a meeting really took place, we do not undertake to judge, but after that Evdokimov stepped aside, and Kozhemyako spoke in the port to the workers, mentioning that Rosatom would become the management company, and then the owner. It was in November 2020.
Photo: provided by source UtroNews
Photo: provided by source UtroNews
And again Rabinovich
The dispute also highlighted some loans issued by FESCO by offshore firms, in particular - Sian and Maple Ridge. It was these loans that could be the starting point for losing control.
Under intragroup debts in 2020, a restructuring plan was developed, which was then removed under the cloth and the division was drawn into litigation.
As a result of these disputes, Cypriot bans were established, which, according to the plaintiffs, led to the transfer of practical control over FESCO to Domidias, Novator and Nautilius, that is, at that time Rabinovich, Severilov and Garber for some time (up to the first two defendants he owned Domidias shares).
Photo: provided by source UtroNews
At the same time, the Mamedovs suspected that Rabinovich had not the last word in the decisions of the FESCO board of directors to bury the restructuring plan.
The lawsuit has repeatedly mentioned some financial injections allegedly from Rabinovich in favor of council members for the necessary decision.
Photo: provided by source UtroNews
The Mamedovs assigned Rabinovich a rather significant role in the capture, suggesting that Evdokimov's withdrawal from the game could have been made just at his request.
Rabinovich, like Severilov, the Magomedovs were also accused of playing on the side of the Prosecutor General's Office in the seizure of shares, providing confidential documents.
Photo: provided by source UtroNews
There is one not insignificant fact in this whole story. Despite the fact that Mikhail Rabinovich lit up next to business in the Russian Federation and government agencies, he did not fall under foreign sanctions and did not lose his foreign assets. It would seem, why?
It is believed that he has a powerful lobby behind him from certain structures of Great Britain that have an interest in the logistics of the Russian port. As far as this is true, it is not for us to judge, but the facts, as they say, are obvious. I wonder how they look at it in the relevant departments of the Russian Federation?