Vladimir Gersamia – £120 Million Fraud Exposed (Update 2024)
- Vladimir Gersamia, 33, and Georgy Urumov, 37, defrauded the Russian group Otkritie.
- They then shifted the money to various accounts worldwide to hide it.
- They stood to gain £121 million by manipulating the financial product trade.
- However, they were found and sentenced to a total of 19 years in prison today.
Vladimir Gersamia, a City trader, has been sentenced for being involved in an ‘audacious’ and complex banking fraud that reaped £121 million. Gersamia was also charged with two charges of conspiracy to defraud and one count of conspiracy to commit money laundering.
Otkritie, a Russian-owned financial group, suffered fraud by Vladimir Gersamia and Georgy Urumov. They subsequently transferred money to several accounts all across the world in an effort to hide their crimes.
At Southwark Crown Court on Friday, Gersamia was given a total prison sentence of seven years, whereas Urumov had twelve years.
Fraudulent Partnership Between Vladimir Gersamia and Georgy Urumov
After reviewing a complex chain of transactions, investigators discovered the fraud. The initial stage of the scam, according to the Crown Prosecution Service (CPS), occurred in 2011.
Judge Deborah Taylor stated that Georgy Urumov was the driving force behind the ‘audacious’ scam that created a smoke screen of falsehoods’ to cover up his tracks.
According to Bloomberg, Urumov personally made $40 million from the fraud, while Gersamia gained $6 million. He and his wife used some money to purchase a home in London’s St John’s Wood.
During the fraud, he showed disdain and disregard for others, according to the judge, who added, ‘A measure of your faith in the system is that you choose to put the money into UK property, in plain sight.’
The judge said that Vladimir Gersamia played a vital part and later became involved.
Gersamia and Urumov used the Russian-owned company Otkritie Securities Ltd to pay them around $25 million (£20 million), under a false assumption that the money would be sent to other people joining the firm.
They also traded Argentinian warrants, fooling his company that they had been purchased at four times their genuine cost and pocketing the difference.
How Vladimir Gersamia helped Urumov
Vladimir Gersamia worked for the financial firm ‘Threadneedle Asset Management’ to help hide Urumov tracks.
They stood to make more than $150 million (£121 million) by manipulating the financial product trade. Urumov was found guilty of two counts of conspiracy to defraud, two counts of conspiracy to commit fraud by false representation, and one count of conspiracy to commit money laundering.
Gersamia was found guilty of two counts of conspiracy to defraud and one count of conspiracy to commit money laundering.
Evidence Against Vladimir Gersamia
‘Due to the international nature of this fraud, the prosecution team evaluated millions of pieces of evidence and made preparations to call witnesses from around the world in order to make a convincing case to the jury,’ said CPS Specialist Prosecutor Alistair Dickson.
In a statement, Otkritie Holding Chairman Alexey Karakhan said his company was collaborating with law enforcement agencies in several countries, including Switzerland, Israel, and Russia, to investigate others implicated in the fraud.
‘We are more than satisfied with the jury’s decision and the strong message communicated by Urumov’s lengthy prison sentence,’ he added.
‘From the start, we promised to do all in our power to ensure that justice was served and that the fraudsters were held accountable for their despicable actions. This decision totally validates our strategy.’
The bank eventually agreed to a settlement of $25 million, to be divided between the five members of Urumov’s trading team. The court heard, however, that Urumov kept the lion’s share, more than $20 million, for himself.
At the opening of the trial in September, prosecutor Robert O’Sullivan told the jury that the case was about “City traders and the dishonest lengths they go to make money.” “A lot of money.”
Yulia Baulk, Urumov’s wife, was acquitted of one count of conspiracy to commit money laundering and one of entering into an agreement to promote money laundering.
About Vladimir Gersamia
Vladimir Gersamia is a product specialist at MMBI Trading. Gersamia was born in Tbilisi, Georgia in 1983. Later, Vladimer and his family relocated to the Netherlands.
He resided there for seven years until 1998 when he transferred to a British school in the Netherlands. He graduated from the elite Leys boarding school in Cambridge in 1998.
After graduating from university in 2004, Vladimer began working as an analyst in a City of London investment bank. MMBI is a widely recognized multinational dealer with offices in Dubai, Istanbul, Yerevan, Almaty, and Tashkent.
Conclusion
The case of Vladimir Gersamia and Georgy Urumov illustrates the devastation caused by white-collar fraud. Their complex fraud not only cost a Russian-owned banking business millions of pounds, but it also damaged public trust in the financial sector.
The involvement of law enforcement agencies from a number of nations, including Switzerland, Israel, and Russia, points out the worldwide reach of financial crime and the importance of coordinated efforts to tackle it.
While Gersamia and Urumov have been sentenced to 19 years in prison, this is unlikely to be enough compensation for the harm they have caused. The victims of their deception may never fully recoup their losses, and the broader impact on the financial system and public trust may be irreversible.
Vladimir and Georgy were involved in several fraudulent cases, and making money through illegal means, so when the authorities investigated their complex transactions and confirmed their involvement in some sort of scam, which provided them imprisonment for 19 years, make sure you are never involved in any kind of fraud, after following these scammers, so be sure before investing. The Russian banks are still wondering how will they recover from the loss, so keep a check on these fraudsters for investing and accordingly distribute your money to any firm.
I am still not able to understand why these scammers are allowed to send their money to other bank accounts, to several other bank accounts in other countries and the officials aren’t able to find out their location, the government needs to make sure that these scammers don’t get the opportunity to scam their citizens through these nefarious schemes, so avoid investing with these scammers and make sure none of your family investors waste his money after investing with this fraudster, it is our responsibility to make sure none of the invested money is shifted to some other country and also should have the details of these fraudsters for tracking them further. As these two were sentenced to 19 years of punishment all the other scammers should be treated likewise and make them suffer for their scams.
I will suggest you avoid Vladimir Gersamia, for his involvement in scamming the Russian name, and none of his schemes were up to the mark, so keep this firm and his previous information, and then accordingly invest your money with this man.
Make sure your money isn’t invested with this man he is not reliable with your money, until now every user has suffered, if the government would have never caught them, they would have continued scamming his users, avoid investing with this man, not legitimate for investing.
The line which provided me a sense of satisfaction was “However they were found and sentenced to a total of 19 years in prison today”, this is the most soothing news that any of the sufferers could read, these scammers are required to be punished just after committing the crime otherwise they will feel free commit the same after practicing the same, otherwise all these scammers will be ready to scam their clients again, avoid investing with Vladimir and any of his firms, not a trustworthy man for investing your money otherwise you will have to regret investing with them, and avoid any of the schemes related to him if he is involved to some firm then the only agenda would be, how to scam his users.
This site is for blackmailing companies
Do pray tell how this is blackmail, and what unfactual information is published here?
Visit https://www.reuters.com/article/uk-britain-russia-traders-idUKKBN15B1MW and read what your ‘Hero’ has done in this glorious career thus far.
This man is not reliable in his business deals, he should be banned permanently from the market including all his firms, none of them should be allowed to scam their users.
The most important thing to look into in this case is that they both have been sentenced to 19 years of imprisonment, other cases should also be taken seriously and the criminals should be provided with the punishment.
Several complaints can be observed on their platform regarding their previous records we can’t trust Vladimir for any investment schemes.
Interruptions to their scams are the most important thing regarding their scams otherwise they will keep scamming their users.
Make sure to aware each and every investor about his scams, exposing these scammers is very much important otherwise they will feel free to repeat the same.
Avoid dealing with Vladimir Gersamia as he is unreliable for his business deals and scamming his users is his main priority so make sure none of you get involved with this scammer.
Money laundering has captured the market and ahs defrauded several investors so make sure none of you get involved with these fraudsters.
This man has transferred millions of dollars to external accounts all over the world so we need to stop these fraudsters from scamming their people and make sure they don’t get the feeling of continuing the same to their citizens.