I sent Marty the following post from Julia Davis, a reporter who monitors Russian media:
Russian oligarch Alexei Kuzmichev charged in France with tax fraud.
The business tycoon, considered one of the 'most influential people in Russia' and an associate of Vladimir Putin, was arrested in Saint-Tropez on Monday.
According to Le Monde, the “Russian billionaire Alexei Kuzmichev, an associate of Vladimir Putin targeted by EU sanctions, was charged with tax fraud in France on Wednesday, November 1, the country's financial prosecutor said. Kuzmichev was ‘placed under judicial supervision’ and banned from leaving the country” and is facing “charges of concealing work with an organized crime group and on a presumption of money laundering.”
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Martin Sheil, retired IRS criminal investigator had a bit of fun with this one. I hope you enjoy his hot take as much as I did, and please search the archives for Marty’s Follow the Money series. His work is vital.
Here’s Marty…
Heidi,
Sacre bleu!
Alexi Kuzmichev was one of the founders of Alfa Bank, the single largest bank in Russia at one time. But he skedaddled to France upon the commencement of Putin's war against Ukraine.
Alexi decided to tough out the war in his multi-million dollar luxury villa in Paris before deciding to calm his nerves further and relax in his multi-million dollar compound in the French Riviera resort of Saint-Tropez where authorities arrested him and seized a bunch of cash and jewelry.
Tant pis!
Kuzmichev was suspected of Money laundering, sanctions evasion and consorting with an organized crime group in addition to charges of tax evasion. Previous to his arrest, French authorities had seized two yachts belonging to Alexi.
Poor baby!
What's a rich Russian oligarch to do?
Such an injustice evokes recent memories of UK's sanctions crackdown treatment of fellow Alfa Bank founder Mikhail Fridman when they denied Fridman's request for a maid to clean up his luxury mansion in Londongrad and also denied his request for a personal driver claiming that Mickey could use the Metro. (Heidi’s note: Lol).
To this injustice Mikhail exclaimed in vigorous protestation - that the Metro station was blocks with an s, away from his mega mansion and having to walk so far was a gross injustice and hardship.
O mon dieu as the French would say or perhaps a simple - Blimey - would be more suitable here to more appropriately reflect the Brit's stupefaction at the chutzpah being exhibited.
Hopefully, the authorities are just scratching the surface in their pursuits of the fruits of the leaders of the Alfa Group's kleptocratic criminal proceeds. But they are going to have to penetrate a number of offshore shell companies that all seem to lead to the British Virgin Islands.
Observe: with regard to Monsieur Kuzmichev
Lets start with a graphic from ICIJ that connects Alexey with Alfa Overseas
And when we examine the beneficial owners of CountryIsle Assets whom do we find?
Zut alors!
The original founders of Alfa Bank: German Khan, Mikhail Fridman, Petr Aven along with Monsieur Kuzmichev but no sighting of the secret leader of this organized crime group - Vladimir Putin.
Vlad would no doubt refer to the above noted brothers in crime as - good earners!
I would encourage readers to click on the names on the graphics to find more shell companies, and I would hope the authorities in France and UK need no further encouragement to do the same as they are off to a good start.
Keep up the good work.
Marty
Back atcha brother.
****
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