High Altitude Holdings Limited – Crimes, Money Laundering
High Altitude Holdings Limited is a criminal enterprise run by Vadim Shulman. He is a corrupt oligarch who uses the company for money laundering, according to various media reports.
The man is involved in multiple criminal cases.
About VADIM SHULMAN- The ultimate beneficial owner of High Altitude Holdings Ltd
With the collapse of the Soviet Union, Ukrainian businessman Vadim Shulman has built up a wide business portfolio that includes mining, chemicals, energy, and telecommunications. He has been the chair of the Ukraine Tennis Federation since 2006 and is good friends with fellow Ukrainian businesspeople Ihor Kolomoiskyy and Gennady Bogolyubov.
Vadim (Nathan) SHULMAN was born in 1960.
He spent ten years working at the mine after graduating from the Mining Institute in Krivoy Rog, Ukraine, as an engineer-constructor of subterranean facilities.
Since 1991 he has had a business in the fields of mining, chemical, and energy industries, as well as telecommunications. Since 2006 he chairs the Ukraine Tennis Federation.
Vadim Shulman is involved in charity activities and supports the Jewish community life in Ukraine and in Israel. He is a Jewish community Board of Trustees member in the Dnepropetrovsk region and one of the Krivoy Rog Jewish community’s main donors.
He is one of the supporters of the Kiev Central Synagogue. He built a school and campus for children immigrants from the Soviet Union in Jerusalem and financed the construction of Jewish homes for senior citizens.
Entirely at his own expense, he built a magnificent new synagogue “Beis Stern Shulman” in Krivoy Rog. Shulman initiated and sponsored the project of the documentary series “World War III has started” dedicated to the problem of international terrorism.
Appleby records show that Monaco-based Shulman spent $35,000,000 on a brand-new Gulfstream G450 aircraft in 2012. Appleby assisted Shulman in creating a network of companies in the British Virgin Islands and the Isle of Man to maintain and operate the aircraft. Internal corporate records state that the aircraft sale poses a “greater threat.”
About Warren Steel
A steel plant in Warren, Ohio, was purchased in 2001 by Vadim Shulman, the Ultimate Beneficiary Owner of High Altitude Holdings Limited. Two of Vadim Shulman’s pals, Igor Kolomoisky and Gennady Bogolubov, were notified of this prospective chance. In November 2007, Warren Steel Holdings, LLC, a Delaware limited liability company, obtained control of the mill. Vadim Shulman, the Ultimate Beneficiary Owner of High Altitude Holdings Ltd, along with Mr. Kolomoisky and Mr. Bogolubov were the three major shareholders in Warren Steel. In April 2008, Panikos Symeou was given ownership of Warren Steel after being appointed director of the BVI company Halliwel Assets, Inc.
The sole asset of Halliwell is Warren Steel. Three parties are listed as shareholders in Halliwell: Hornbeam Corporation, a Panamanian company held in trust for Vadim Shulman, owner of High Altitude Holdings Limited, Mr. Symeou, who is the custodian of Mr. Kolomoisky’s shares, and Marigold Trust Company Limited (which holds shares in trust for Mr. Bogolubov). It is undeniable that Vadim Shulman( owner of High Altitude Holdings Limited), Mr. Kolomoisky, and Mr. Bogolubov ultimately each own or control one-third of Halliwell, notwithstanding the complexity of the organizational arrangements.
The transfer of Hornbeam’s shares in Halliwell to the Bracha Foundation, a Liechtenstein charity that is completely controlled by or under the direction of Vadim Shulman, owner of High Altitude Holdings Limited, began on December 2014. Also, Hornbeam requested that Halliwell alter its records to reflect the ownership change. During this time, documentation of Hornbeam’s breakdown came to a close. Mr. Symeou has not made notice of the transfer. As a result, Hornbeam is still the record’s owner.
The Court is not now considering the merits of the underlying commercial dispute between Vadim Shulman, owner of High Altitude Holdings Limited, Mr. Kolomoisky, and Mr. Bogolubov, thus we make no attempt to settle those matters here. A concise summary is helpful for context, though. The 1782 application, originally filed ex parte by Bracha, claims that Mr. Kolomoisky and Mr. Bogolubov “appear to be using entities and individuals under their control to execute an elaborate self-dealing scheme focused on exploiting Warren Steel.” It also claims that it appears that they are pressuring Warren Steel to accept unwise on-demand loans secured by Warren Steel’s assets.
In response, Vadim Shulman has brought many legal actions against Halliwell, its director, and its stockholders through the different corporations he controls. In order to compel an “extraordinary” shareholder meeting to endorse a proposed restructuring of Warren Steel’s debt, Hornbeam filed a lawsuit in the BVI in 2014. In order to stop the sale or transfer of Warren Steel to other companies owned and controlled by Mr. Kolomoisky and Mr. Bogolubov, Bracha and Hornbeam filed a lawsuit in Ohio state court in 2015. In accordance with 1782, Hornbeam has also requested discovery in New York, Delaware, Ohio, and Florida.
Vadim Shulman, the owner of High Altitude Holdings Limited, has responded by filing numerous lawsuits via the various corporations he controls against Halliwell, its director, and its owners. Hornbeam launched a lawsuit in the BVI in 2014 to force an “extraordinary” shareholder meeting to approve a planned restructuring of Warren Steel’s debt. Bracha and Hornbeam filed a lawsuit in Ohio state court in 2015 to prevent the sale or transfer of Warren Steel to other businesses owned and controlled by Mr. Kolomoisky and Mr. Bogolubov. Hornbeam has also asked for discovery in New York, Delaware, Ohio, and Florida in line with 1782.
Conflicts against the ultimate owner of High Altitude Holdings Limited- In a tycoon’s lawsuit, Hogan Lovells is charged with conflict of interest.
International firm Hogan Lovells is an American British law firm and had co-headquartered in London and Washington, DC has partially won part of a High Court case involving allegations of conflicts of interest and dereliction of duty brought by a Ukrainian businessman.
According to allegations made against Vadim Shulman in the High Court, Hogan Lovells International LLP’s violations prevented him from successfully pursuing a settlement against Gennadiy Bogolyubov and Igor Kolomoisky in London over an allegedly fraudulent loan scheme involving a shuttered steel plant in Ohio.
According to Shulman, Hogan Lovells actively pursued a retainer with the Ukrainian-based PrivatBank while they were still under his contract.
According to Jonathan Marks QC, who is the attorney representing Shulman, Shulman, owner of
High Altitude Holdings Limited and PrivatBank were competing for the same assets which belonged to Kolomoisky and bogolyubov.
In December 2017, Marks testified in court that Hogan Lovells “favored the interests” of PrivatBank by assisting the bank in obtaining its own $2.6 billion freezing order against the two men. In addition, Shulman asserts that the legal firm had to start working on the order before their working relationship terminated. According to Hogan Lovells, the firm didn’t start working for PrivatBank until August 2017. Shulman’s $500 million fraud lawsuit had already been thrown out at this point. In April 2017, an English court determined that it lacked jurisdiction over the allegations.
Yet, Shulman now claims that PrivatBank and Hogan Lovells’ discussions about the latter’s far larger claim overlapped with the former’s responsibilities to him. Additionally, Shulman’s attorneys seek the opportunity to cross-examine attorneys at the law firm about material pertaining to the retainer date.
Hogan Lovells claims a partial victory in the dispute with the owner of High Altitude Holdings Limited
International law firm Hogan Lovells has won part of a High Court case involving allegations of conflicts of interest and dereliction of duty brought by a Ukrainian businessman.
Vadim Shulman, owner of High Altitude Holdings Limited is suing the company for alleged negligence that he claims prevented him from recovering Gennadiy Bogolyubov and Igor Kolomoisky, the former founders of Ukrainian bank PrivatBank, who owe him up to $500 million.
High Altitude Holdings Limited claims HLI had “many conflicts of interest” by representing Victor Pinchuk, who settled a billion-pound claim against Bogolyubov and Kolomoisky in 2016, as well as acting for PrivatBank in its lawsuit against the two.
As Shulman had already lost the chance to sue Bogolyubov and Kolomoisky in England and Wales by the time Hogan Lovels was hired by the bank in 2017, the firm argued that any claimed conflicts of interest involving PrivatBank could not have developed until that time.
In response, Shulman filed a request to modify his particulars of claim to state that the alleged breaches of duty by HLI occurred earlier in 2017.
The High Court decided that Shulman’s argument that the alleged conflicts of interest and breaches of duty as a result of Hogan Lovells’ retainer with PrivatBank had no genuine chance of success was granted summary judgment on this portion of Shulman’s claim.
High Court judge, Daniel Toledano QC words- Mr. Shulman has not raised a credible basis for saying that, at any time prior to early April 2017 and by reason of HLI’s activities relating to [PrivatBank], HLI placed itself in a position where its own interests conflicted with those of Mr. Shulman, owner of High Altitude Holdings Limited or acted in such a way as to breach its duty to act in the best interest of High Altitude Holdings Limited owner.
However, the judge refused HLI’s application for summary judgment on Shulman’s claim that he might have been able to obtain a freezing order which could have been used to extract a settlement before the High Court ruled on jurisdiction.
Vadim Shulman, the Ultimate beneficial owner of High Altitude Holdings Limited Vs James Plante
James Plante was the subject of a contract filed by Vadim Shulma, the ultimate beneficial owner of High Altitude Holdings Limited, on January 26, 2018. The case was filed in the Stanley Mosk Courthouse and the Los Angeles County Superior Courts, both of which are situated in Los Angeles, California. The judge overseeing this case is TERESA A. BEAUDET. The issue has been rectified and put to rest.
Vadim Shulman, the Ultimate beneficial owner of High Altitude Holdings Limited Vs Yuriy Gurevich
A contract-based debt collection case was brought by Vadim Shulman, the ultimate beneficial owner of High Altitude Holdings Limited, against Yuriy Gurevich. The case was filed at the Santa Monica Courthouse and Los Angeles County Superior Courts, both of which are situated in Los Angeles, California. In this case, a judge named NANCY L. NEWMAN is in charge. A ruling was rendered to end the dispute.
In a US court, Monaco’s Shulman ( Owner of High Altitude Holdings Limited) is pursuing past debts.
Kolomoisky and Boholiubov used a 15-year friendship to defraud him in business deals
Vadim M. Shulman, owner of High Altitude Holdings Limited, a resident of Monaco, and his charitable organization asserted in a complaint filed in the US last Friday, August 23, that billionaires Igor Kolomoisky and Gennadiy Bogolyubov defrauded them of $30 million by running a $100 million phony loan scheme. Reliable sources claim that Mr. Shulman, Owner of High Altitude Holdings Limited has been pursuing his lawsuit in different jurisdictions since 2015.
According to the lawsuit filed in Delaware, businessmen Igor Kolomoisky and Gennady Bogolyubov were in charge of “a series of large-scale and coordinated scams” that used deceptive means to steal millions of dollars that the owner of High Altitude Holdings Limited and his charity are entitled.
The three oligarchs had collaborated on a number of commercial agreements over a period of years, first in Ukraine and then in the US. The shareholder shares in various steel and coking facilities, where stakes were held, were frequently opaque. Roman Abramovich made an offer to purchase Kolomoisky’s holdings in his Ukrainian plants in one of the main transactions in 2007 for $1.06 billion in cash and a stake in his business, Evraz Group.
The Ukrainian government saved PrivatBank in December 2016 for a total of $5.5 billion after its owners, notably Kolomoisky, badly weakened its balance sheet by using it as their personal piggy bank. Kolomoisky requested Shulman, owner of High Altitude Holdings Limited not to “beat a man who is down” at a conference in the Hotel de Paris after the authorities saved the bank.
He made the former business partner an offer to pay off the loan.
Kolomoisky returned to Ukraine after a two-year absence following the election of comedian Volodymyr Zelensky to the Presidency. The oligarch has close ties to Zelensky, who has denied being under Kolomoisky’s influence.
As by the judge Lawsuit cannot prohibit the sale of Warren Steel
A temporary restraining order barring Warren Steel Holdings LLC from being sold was lifted when a Trumbull County Common Pleas magistrate ruled that the case should be dropped.
Vadim Shulman, the owner of High Altitude Holdings Limited of Monaco, and his Liechtenstein-based company, Bracha Foundation, were the plaintiffs, and Magistrate Jami Bishop determined that they “lack standing to initiate their lawsuit” in the county court.
Bishop notes in the decision that the High Altitude Holdings Limited’s owner failed to show the Bracha Foundation had the legal authority to conduct business in Ohio and that his corporation actually owns shares in Warren Steel.
Magistrate Jami Bishop’s words- “Plaintiff’s contention that Bracha is (or should be) a Halliwel shareholder would require this court to delve into Halliwel’s ‘internal corporate affairs.’ The court is unable to do so because Halliwel is a foreign corporation and a court in the British Virgin Islands, not the Trumbull County Common Pleas Court, has to determine if Shulman – through the Bracha Foundation – is a shareholder in Halliwel and Warren Steel.
In the British Virgin Islands, only a registered shareholder has a right to bring claims for damages or injunctive relief regarding loss allegedly suffered as a shareholder”.
The owner of High Altitude Holdings Limited has to pay court costs.
The owner of High Altitude Holdings Limited filed the case on June 15 and claimed he was one of the founding investors in Warren Steel and that the six defendants were attempting to oust him from the firm, hide financial information, and burden it with debt.
The defendants cited in the complaint are Panikos Symeos of Cyprus, Igor Kolomoisky of Ukraine, Gennady Bogolubov of Ukraine, Mordechai Korf of Miami, and Halliwel Investments Inc. of the British Virgin Islands.
The lawsuit claims that Warren Steel Holdings, Halliwel’s sole asset, is intended to provide the owner of High Altitude Holdings Limited and the defendants Kolomoisky and Bogolubov equal ownership in the steel business.
Owner of High Altitude Holdings Limited asserts that he contributed an initial investment of $13.5 million and an additional $15 million to acquire the former Copperweld Steel Co. He asserts that his cumulative investment throughout the years was $58.5 million.
The men created Warren Steel in 2001 and combined various assets to begin current operations in 2006, the suit states.
Owner of High Altitude Holdings Limited, Shulman asserts that his stake in Halliwel gives him a one-third ownership stake in Warren Steel, while not actively managing the company. He asserts that any actions regarding Warren Steel must receive the consent of all three parties in accordance with the joint venture agreement.
According to the lawsuit, as of December, Warren Steel had assets worth $34.3 million and liabilities worth more than $143 million, which is insufficient to pay back Shulman, owner of High Altitude Holdings Limited, or provide him a chance to profit from his investment.
The owner of High Altitude Holdings Limited, claims Korf, Symeou and other involved parties plan to sell Warren Steel to a company related to Korf and perhaps void the loans to gain full equity.
Briefing the criminal charges filed against Vadim Shulman, Owner of High Altitude Holdings Limited
The Kiev Dnipropetrovsk District Court has just begun a criminal prosecution against multimillionaire Vadim Shulman. Megaron Sports Complex in Dnepropetrovsk. behind the nose. A stocky uniformed man is being attacked by a bearded man. Blood is all over his face. He does not even try to defend himself despite the fact that two guards are nearby and ready to run to help. In front of multiple witnesses, the president of the Tennis Federation of Ukraine, Vadym Shulman, beat tennis player Yuriy Androsyuk till he was bloody.
Thus, the story forced millionaire Vadim Shulman, the ultimate beneficial owner of High Altitude Holdings Ltd, to face criminal charges, according to the Dnipropetrovsk District Court in Kiev.
Conclusion: High Altitude Holdings Limited is a Criminal Enterprise
The consequences of corporate fraud can be severe, both for the company and for the stakeholders involved. The company may be fined, sued, or have its license revoked, while the individuals involved may be prosecuted and imprisoned. Fraud can affect any entity. However, when it is handled poorly, fraud can result in an erosion of trust in government and industries, and lead to a loss of international and economic reputation. This is particularly true when fraud is facilitated by corruption.
Due to their continued power and influence within the Ukrainian government, Vadim Shulman, the Ultimate Beneficial Owner of High Altitude Holdings Limited, and the other businessmen will not be able to bring about any justice in Ukraine.