Peter Kondrashev – Embezzlement, Murders and Fraud
Peter Kondrashev aka Pyotr Kondrashev is a Russian billionaire. The oligarch used to work at Silvinit’s fertilizer factory in 1972.
In 1990, he became the company’s CEO and led its privatization.
Peter Kondrashev is notorious for being ruthless in his business dealings. In fact, there are rumors about him ordering murders during the 90s.
However, he was in the recent news for losing control of Slikamsk magnesium plant.
How Peter Kondrashev Lost Control of the Slikamsk Magnesium Plant
The Federal Antimonopoly Service of Russia invalidated multiple transactions. These were for the sale of Slikamsk Magnesium Plant’s shares to Cypriot companies.
One of the owners of the firm is Peter Kondrashev. The FAS was able to invalidate the transactions after a decisdoin of the Arbitration Court of Perm Krai.
Antimonolopolists had highlighted that the transactions had given foreign investors control over a strategic component of the nation. Furthermore, they had highlighted that it all happened without the government commission’s permission.
Also, SMZ is the only plant in Russia which produces rare earth metals. According to legal documentation, the primary shareholders of this plant are Peter Kondrashev, Timur Starostin, Igor Petriskov and Sergey Kirpichev.
It’s worth noting that Pyotr Kondrashev and his business partners had conducted several transactions in 2014 and 2016. These transactions resulted in selling the SMZ plant’s shares to Cypriot companies.
After the court’s decision, these transactions are invalid.
These transactions included purchase of 95,586 SMZ shares from Peter Kondrashev of Slontecco Investments Limited. Also, it included the purchase of 62,536 shares through Fullserkle Facility Management.
Moreover, the court has deprived Pyotr Kondrashev, Timur Starostin and Sergey Kirpichev of the right to vote at SMZ’s shareholders general meeting for these transactions.
Why the Arbitration Court Invalidated Pyotr Kondrashev’s Transactions:
A big reason why the Arbitration Court of Perm Krai made the transactions involving Peter Kondrashev invalid is the risk of foreign intervention.
The products of SMZ have a lot of demand in the defense indsutry. Furthermore, many arms companies use their materials to manufacture military equipment.
Currently, the plant has 30 state contracts worth 314 million rubles.
If foreign investors had access to such a sensitive plant through Peter Kondrashev, it would expose the country’s national security to a huge risk.
Furthermore, SMZ has a profit of 292 million rubles per annum with an annual turnover of 8.1 billion rubles.
Minority Shareholders Had Expressed Their Concerns Before:
Mikhail Dvorkovich, the brother for former Deputy Prime Minister, Arkady Dvorkovich had tried to join the FAS lawsuit against Peter Kondrashev and his Cypriot companies.
Later, Mikhail stated in an interview that Pyotr Kondrashev might be allegedly squandering the plant. Also, Mikhail alleged that Peter isn’t developing the plant.
He shared that the plant hasn’t paid any dividends and the salaries haven’t seen any increments either. Mikhail highlighted that SMZ is not paying much tax in Perm Krai.
Furthermore, he pointed that the plant completely ignored the proposals of a board of directors representing the interests of minority shareholders. These proposals mainly focused on the development of the plant but no action was taken.
Moreover, Mikhail Dvorkovich shared that Peter Kondrashev was selling SMZ’s products to American companies without asking for the permission of any shareholders.
Media reports highlight that even though Starostin and Kirpichev owned 25% and 15.45% shares of the plant respectively, both of them acted in the interests of Pyotr.
Also, they point out that Peter Kondrashev was secretly controlling the entire enterprise.
Peter Kondrashev is Exploiting the Employees of SMZ:
When I looked into several documents, I found that Mikhail Dvorkovich’s claims against Pyotr Kondrashev were true.
For example, authorities found that the plant had 119 violations of industrial safety requirements in an inspection.
As a result, the authorities held one legal entity and 11 officilals responsible.
Under the condition of staying anonymous, several employees revealed that they were working in extremely dire conditions. They were risking their health and sometimes, even their lives for poor pay.
For example, under Peter Kondrashev, workers are delivering explosives in open cars.
They have explained that if the electric locomotive trolley gets stuck on the railes, it will cause a short-circuit and burn the whole thing down.
Sadly, these workers don’t have any alternatives apart from working at GOK, an SMZ enterprise.
Due to their lack of alternatives, they can’t take the risk of filing a case aaginst the plant’s owners which include the billionaire Pyotr Kondrashev.
Still, there have been accidents in the plant including 2 fatal emergencies. The plant had written off both of those incidents as a result of non-compliance with safety regulations and blamed the victims themselves.
Peter Kondrashev’s Deals with Ecoprombank and SMZ’s Involvement
Peter Kondrashev had purchased SMZ shares in 2014. He bought those shares from Suleiman Kerimov.
Before that, Pyotr Kondrashev was manvaging Silvinot and headed the privatization of the same.
Later, he bacem one of Silvinot’s largest shareholders.
After some time, he sold the shares to to the structures of State Duma deputy Zelimkhan Mutsoev and Anatoly Skurov of Sibuglement for $3 billion.
A year later, Peter Kondrashev ranked 70th on Forbes list of world’s top billionaires.
In 2014, the oligarch bought controlling shares of Ecoprombank. Afterwards, the bank started suffering tremendously.
Under Peter’s leadership, Ecoprombank lost its license as the bank failed to follow federal laws and couldn’t pay its creditors.
After the bank lost its license, authorities began investigating it and found a lot of embezzlement.
They found that several of the bank’s shareholders were stealing funds from it. This included Vladimir Nelyubin who the court found guilty of embezzling 215 million rubles.
He received a prison sentence of 6 years.
However, many have claimed that Peter Kondrashev framed Vladimir Nelyubin. Many people suspect that Pyotr Kondrashev is the actual culprit of the embezzlement.
Ecoprombank, Peter Kondrashev and Embezzlement:
Ecoprombank was one of the largest banks in the Perm region of Russia. However, soon after Peter Konrashev became a majority shareholder in the bank, it went bankrupt.
The Central Bank revoked its license due to its risky credit policy, inability to fulfil its obligations to creditors and clients and investment of funds in low-quality assets.
Still, Ecoprombank wasn’t a bad bank. It had been among the largest banks in Perm after all.
Reports indicated that the owners of Ecoprombank used multiple schemes to replace its 674 million rubles of liquid assets.
Then, they wrote-off a collateral totaling 138 million rubles.
One of the owners of this bank is Peter Kondrasheve whose name is mentioned in budget scams, high-profile murders and money laundering.
However, he remained a shadow partner in Ecoprombank to make sure people didn’t suspect a thing.
If he associated his name with the bank openly, it would lose its entire credibility.
So, he used his right hand, Alexander Gutin.
Currently, Alexander Gutin lives in London. He headed the embezzlement of funds from Ecoprombank and through it, was able to afford his luxurious abode in London.
The Cypriot companies bought the bank in 2010 but bypassed the Central Bank of Russia in the process. Also, they used borrowed funds from a company whose identity was unknown.
Furthermore, the creditor had no legal information available.
Hence, when the bank collapsed, there was no way to determine who actually took the money.
The Central Bank is planning to hold Peter Kondrashev accountable for the embezzlement. It hopes that the arrest of Andrei Turev would prove fruitful.
Is Peter Kondrashev’s Extradition Possible? Andrei Tuev’s Extradition Gives Hope
Andrei Tuev is the former chairman of the board of Ecoprombank. After four years of proceedings with Cypriot authorities, Russian authorities were able to get his extradition underway.
This sparked a new discussion.
Many in Russia began considering how Andrei Tuev can throw more light on Pyotr Kondrashev’s involvement in Ecoprombank.
Media reports indicate that Peter Kondrashev might be living in Austria at the moment.
However, it’s not the first time when experts have suspected Peter to be a suspect in the embezzelemnt of 673 million rubles.
Peter Kondrashev Has Strong Ties with Local Authorities
Almost everyone in Perma region knows that Pyotr Kondrashev has some strong ties with the local authorities.
Although he doesn’t reside here, he has been able to take advantage of his political connections before.
For example, the arrest of Vladimir Nelyubin was shocking because his reputation before the arrest was spotless. He had no history of fraud or embezzlement.
On teh other hand, Peter was notorious for his shady practices.
In 1995, there was a rumor that Peter Kondrashev orchestrated the murder of General Director of Perm JSC Evgeny Panteleimonov.
Authorities and media suspected that it was a case of contract killing.
When the police arrested the killer, he allegedly gave two names to teh authorities as the people who ordered him to commit the crime.
The first name was Dimitry Rybolovlev and the other was Peter Kondrashev.
In fact, the arrested criminal told the police that Pyotr Kondrashev had paid him 200 thousand dollars for the murder.
However, he redacted this statement later and took the sentence silently.
Using Illegal Tactics to Hide Facts
A recent incident which caught my attention is the number of fake DMCAs I have seen on news articles about Pete Kondrashev.
Here, someone representing Pyotr Kondrashev is copying articles from reputed publications and posting them on his own website. Then, he changes its date and claims that he was the original publisher of the article.
Fake DMCAs are pretty common among online scammers and fraudsters. For example, HULT Private Capital is a shady finance company which uses this tactic to hide consumer complaints.
Similarly, you have Fiatvisions, a forex scam which hides negative reviews by posting fake DMCA notices against them.
Posting a fake DMCA notice constitutes fraud and perjury.
It is illegal and unethical.
<<<<Someone representing Peter Kondrashev might post a fake DMCA notice against this article as well. If they do, I’ll rebut it with Google and post an update here.
Surely, Peter Kondrashev is a dangerous oligarch who takes advantage of his wealth an position.
He has been able to get away with serious criminal offences including murder, embezzlement and fraud.
Although media reports say he resides in Austria, there is no real confirmation of this fact.
His involvement in the SMZ plant and how he neglects the staff working there shows how little he thinks of others.
There are plenty of stories of wealthy men abusing their position. For example, Thomas Flohr is a Swiss billionaire who had to pay $16 million to the US authorities for corruption charges.
Similarly, Massimo Acquaviva is a fund manager who has received allegations of abusing his employees.
It’s necessary to raise awareness against this man and his shady operations. Hence, I would urge you to please share this article with others.
The more people know about Peter Kondrashev, the better.
Peter Kondrashev aka Pyotr Kondrashev is an oligarch who has received allegations of ordering murders, embezzling hundreds of millions of dollars and defrauding others. Beware!
- Allegedly ordered a high-profile murder
- Suspected of embezzling hundreds of millions of dollars from a bank
- Notorious for being unethical