The cocaine trail of TIS owner: how Russian billionaire Alexey Fedorychev loots Ukraine under the cover of the Lyubertsy organized crime group

00:03, 23.11.2017

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The cocaine trail of TIS owner: how Russian billionaire Alexey Fedorychev loots Ukraine under the cover of the Lyubertsy organized crime group

A long-time fraudster settled in Ukraine — or rather, did not settle personally, but instead established there a business model familiar to him. A notable situation has developed around Russian fugitive oligarch Alexey Fedorychev.

In 1997, Alexey Fedorychev was suspected by police in Monaco and France of money laundering, arms trafficking, and drug trafficking. In Mr. Fedorychev’s circle, individuals were frequently observed who had previously been involved in high-profile criminal cases in Russia as organizers and managers of various organized crime groups, including the Lyubertsy group.

In 2012, Alexey Fedorychev’s private aircraft, tail number 9H-FED, was detained in the Canary Islands with a cargo of cocaine weighing 1,988 kilograms. The aircraft is currently seized by Deutsche Bank due to loan default, and the accounts of his companies in Monaco, such as Fedcominvest Europe SARL and Fedcominvest Monaco SAM, are frozen.

Over the past year, the former oligarch has lost almost all of his large-tonnage fleet, and most of his small-tonnage fleet has been seized due to debts. Numerous cases of fraudulent actions against counterparties and partners in his small-fleet operations have been established. A criminal proceeding has been initiated in Monaco based on the combination of these circumstances.

Oligarch Alexey Fedorychev

It has also been established that Alexey Fedorychev is the 100% owner of a major Ukrainian enterprise, Trans-Invest-Service, based in Odessa, which is a leader in Ukraine in the transshipment of grain and other bulk materials, equipped with terminals, piers, and operating in direct cooperation with a state-owned enterprise.

A corrupt scheme of interaction with state institutions and the bribery of government officials by Mr. Fedorychev led to the accumulation of a debt to PJSC DPZKU of 60 million dollars. One of the debtor companies is LIRTAVIS Enterprises (Cyprus), controlled by Fedorychev. The funds from this company have already been successfully transferred to Fedorychev’s personal accounts.

It should be noted that this company has no physical or financial assets, making even partial repayment of the debt to DPZKU doubtful. The former management of DPZKU’s board somehow “miraculously” approved barley supplies to LIRTAVIS Enterprises without requiring any counter-guarantees for fulfillment of obligations from the Cypriot shell company.

Alexey Fedorychev and his villa

It should be noted that top managers of DPZKU, regardless of who officially headed the company, were always welcome guests of Fedorychev. The hospitable host, Alexey Mikhailovich, sent his private Bombardier Global SRX aircraft to pick up distinguished guests and hosted senior managers of the state-owned company in Monaco, Sardinia, or at his villa in Forte dei Marmi, with transfers via chartered yachts Kismet (600,000 dollars per week) or Northern Star (800,000 dollars per week). The decks and cabins of these yachts still recall representatives of the political establishment from the Yanukovych era.

The scheme of funds withdrawal involved one of the major Ukrainian banks together with its subsidiary bank in the Baltics. The bank provided comprehensive support to Alexey Fedorychev in financing projects and transferring funds, including to Fedorychev’s personal accounts through questionable and illegal transactions, as well as cash withdrawals within Ukraine intended for bribery and payments to officials who entered into collusion with him.

Fedorychev Alexey yacht

Recently, according to unofficial sources, information emerged about plans to sell all majority stakes in the companies of the TIS (Trans-Invest-Service) terminal in Odessa controlled by Alexey Fedorychev. These TIS assets were acquired by the oligarch between 2008 and 2011, and the invested funds were immediately withdrawn and refinanced through Ukrainian banks during the presidency of Yanukovych.

Potential buyers of the TIS assets may include various companies from Russia. The deal value has not been disclosed, but experts estimate it could range from 50 to 100 million dollars.

The decision to sell Ukrainian assets is reportedly linked to Fedorychev having received information about potential claims being prepared by the state. Understanding the consequences of exposure of illegal schemes that could lead to criminal liability for Alexey Fedorychev, Mr. Fedorychev attempted to negotiate arrangements with officials, but given the President’s stated anti-corruption policy, all such efforts were unsuccessful.

Fedorychev A. yacht (second)

Additional reasons pushing Fedorychev toward selling his Ukrainian assets include a large number of accumulated problems related to lawsuits and legal cases, as well as the loss of political protection that had been provided under the previous Ukrainian authorities.

Moreover, many Ukrainian maritime job websites are filled with warnings that Fedorychev’s companies mistreat seafarers and fail to pay wages.

Alexey Fedorychev himself resides on the French Riviera and leads a luxurious lifestyle, purchasing exclusive real estate in Monaco, Italy, and France, building a luxury yacht, flying private aircraft, and hosting expensive parties, while simultaneously influencing the fate of Ukraine’s national assets.