vkomarovskiy
04-26-2012, 08:03 AM
The fortune of the General Prosecutor has become commensurable with the assets of Karimovs family (part 2)
136
For the majority of ordinary law-abiding citizens of Uzbekistan pecuniary difficulties are related to the lack of money. For the corrupt people like Rashid Kadirov, the Prosecutor General pecuniary difficulties mean the opposite – excess of money.
In the first part of the article it was told that Rashid Kadirov solves the problem by using INFINBANK. However, the excess of money belonged to Rashid Kadirov’s family expressed by cash, stocks, deposits and others represent another problem – safety of these assets. Of course the Prosecutor General is an extremely heavyweight. He has no fear of auditing. The only power, who is able to crush him is Karimovs family (to be more precise – Gulnara Karimova), who keep him on a short leash. In 2010 Kadirov was appointed to the position of the Prosecutor General for the third period, though third period of holding such position is not stipulated by the Uzbek legislation. There are only two periods. In return for this Kadirov serves to the interests of Gulnara Karimova. He supports to deprive of successful business and transfer them to this person’s structure. He shuts his eyes on embezzlement, theft and machination with the budgetary funds of Gulnara Karimova’s firms, companies and numerous funds. This is the charge for staying at the Olympus.
However, Rashid Kadirov, whose fortune according to the experts, including sources from the Prosecutor’s office and banking structures is assessed totally in the amount of $700 million US, is not ready to share with Karimov’s family. This is his “Achilles heel”. Being a smart man, Rashid Kadirov realizes that there are no guarantees that the Karimovs family will rule Uzbekistan in future. In these conditions most preferable and logical act would be to move out the assets, which needs laundering first. Alisher – Rashid Kadirov’s son and Timur Kerimov (high-ranking employee of Uzbekistan Airways Company) – Kadirov’s son-in-law actively deal with this.
The first steps have been already taken. Several years ago through the Uzbek criminal structures (where Timur Kerimov has contacts) the Prosecutor Genaral invested around $170 million US to the construction of Prince Casino in Kapchigay, the gambling area in Kazakhstan. For these reasons there was Pacific Trends Co., Ltd, company was registered in the Man Island (the offshore territory). The founder of the company is a certain Redjep Bayturaev, Alisher’s, (the Prosecutor General’s son) trustee in Kazakhstan. The Kazakh side was represented by the President of the Gambling Association of the Republic of Kazakhstan Stanislav Ogay (a trustee of the Russian businessman Alimjan Tokhtakhunov, having interests in Prince Casino).
Rashid Kadirov with the help of the experts properly estimated everything. Nowadays casinos have turned to irreplaceable laundries where daily the fortunes are being laundered. The advantage of this method is that there is no need to provide a passport and income report to buy chips. Everything is anonymous in casinos – one comes, puts on zero, and – what a surprise – wins half a million dollars! Or the opposite – gamblers lost a lot of money in the casino. Rashid Kadirov always makes profit.
The profit in the shape of “laundered money” is transferred to Raiffeisen Bank and Kaiser Ritter Partner Privatbank AG in Lichtenstein. It is known that owing to its low taxes for the placed capital and income, and tightly guarded bank secrecy Lichtenstein reserves a position of a big financial centre. Along with Monaco and Andorra Lichtenstein princedom is a “tax shelter”, where the other countries’ residents escape from taxation. The origin of the money usually makes no difference for the valorous bankers there. The main thing is that they should come legally to Lichtenstein. So the casino of the Uzbek General Prosecutor provides this.
The other way used by Rashid Kadirov to move the money out of Uzbekistan is to buy elite realty abroad and luxuries.
In 2007 Alisher Kadirov, the General Prosecutor’s son bought Trulbaks, a five-star hotel at one of the picturesque places of Switzerland – Weggis in the canton of Luzern. He paid 14 million francs for the hotel, the price worth for the exclusively beautiful building situated at the bank of the Lake of four cantons. According to Rundschau newspaper the hotel was purchased by Consul AG firm, the address of which is stated as Lichtenstein and the owner of which is Redjep Bayturaev (a stated above financier of Rashid Kadirov’s family). There were two firms established at the Marshall Islands and one in Luxemburg, used to transfer the money to buy the mentioned realty. According to the local published media the owner of the hotel intends to invest to the reconstruction of the building 45 million francs more and turn it to a modern congress-hotel.
Concerning luxuries according to different internet sites the General Prosecutor’s family owns “a private airplane – CESSNA Citation XLS”, the interior design of which is made by Diamonite Aircraft Furnishing Ltd., British design company. Besides, Alisher Kadirov possesses a luxury yacht, which costs $85 million US, moored at one of the closed harbors of C-ote d'Azur in France between Marseilles and Menton, the harbor where the best mega-yaughts of the world stay. A yearly membership in this harbour costs around $300 thousand US.
This is not the most complete list of Rashid Kadirov’s business items. Austerity measures within financial centres of the world taken with the aim not to allow “laundering” of the money aquired illegally make the process of its legalizing difficult. So the assets which have not been legalized will stay as a “dead weight” at the accounts at the banks in offshore territories, and there is no quarantee for safely functioning of them in nearest future. So the time for Rashid Kadirov is rather limited, but the money which have not been laundered and moved out is still too much.
Vyacheslav Komarovskiy
136
For the majority of ordinary law-abiding citizens of Uzbekistan pecuniary difficulties are related to the lack of money. For the corrupt people like Rashid Kadirov, the Prosecutor General pecuniary difficulties mean the opposite – excess of money.
In the first part of the article it was told that Rashid Kadirov solves the problem by using INFINBANK. However, the excess of money belonged to Rashid Kadirov’s family expressed by cash, stocks, deposits and others represent another problem – safety of these assets. Of course the Prosecutor General is an extremely heavyweight. He has no fear of auditing. The only power, who is able to crush him is Karimovs family (to be more precise – Gulnara Karimova), who keep him on a short leash. In 2010 Kadirov was appointed to the position of the Prosecutor General for the third period, though third period of holding such position is not stipulated by the Uzbek legislation. There are only two periods. In return for this Kadirov serves to the interests of Gulnara Karimova. He supports to deprive of successful business and transfer them to this person’s structure. He shuts his eyes on embezzlement, theft and machination with the budgetary funds of Gulnara Karimova’s firms, companies and numerous funds. This is the charge for staying at the Olympus.
However, Rashid Kadirov, whose fortune according to the experts, including sources from the Prosecutor’s office and banking structures is assessed totally in the amount of $700 million US, is not ready to share with Karimov’s family. This is his “Achilles heel”. Being a smart man, Rashid Kadirov realizes that there are no guarantees that the Karimovs family will rule Uzbekistan in future. In these conditions most preferable and logical act would be to move out the assets, which needs laundering first. Alisher – Rashid Kadirov’s son and Timur Kerimov (high-ranking employee of Uzbekistan Airways Company) – Kadirov’s son-in-law actively deal with this.
The first steps have been already taken. Several years ago through the Uzbek criminal structures (where Timur Kerimov has contacts) the Prosecutor Genaral invested around $170 million US to the construction of Prince Casino in Kapchigay, the gambling area in Kazakhstan. For these reasons there was Pacific Trends Co., Ltd, company was registered in the Man Island (the offshore territory). The founder of the company is a certain Redjep Bayturaev, Alisher’s, (the Prosecutor General’s son) trustee in Kazakhstan. The Kazakh side was represented by the President of the Gambling Association of the Republic of Kazakhstan Stanislav Ogay (a trustee of the Russian businessman Alimjan Tokhtakhunov, having interests in Prince Casino).
Rashid Kadirov with the help of the experts properly estimated everything. Nowadays casinos have turned to irreplaceable laundries where daily the fortunes are being laundered. The advantage of this method is that there is no need to provide a passport and income report to buy chips. Everything is anonymous in casinos – one comes, puts on zero, and – what a surprise – wins half a million dollars! Or the opposite – gamblers lost a lot of money in the casino. Rashid Kadirov always makes profit.
The profit in the shape of “laundered money” is transferred to Raiffeisen Bank and Kaiser Ritter Partner Privatbank AG in Lichtenstein. It is known that owing to its low taxes for the placed capital and income, and tightly guarded bank secrecy Lichtenstein reserves a position of a big financial centre. Along with Monaco and Andorra Lichtenstein princedom is a “tax shelter”, where the other countries’ residents escape from taxation. The origin of the money usually makes no difference for the valorous bankers there. The main thing is that they should come legally to Lichtenstein. So the casino of the Uzbek General Prosecutor provides this.
The other way used by Rashid Kadirov to move the money out of Uzbekistan is to buy elite realty abroad and luxuries.
In 2007 Alisher Kadirov, the General Prosecutor’s son bought Trulbaks, a five-star hotel at one of the picturesque places of Switzerland – Weggis in the canton of Luzern. He paid 14 million francs for the hotel, the price worth for the exclusively beautiful building situated at the bank of the Lake of four cantons. According to Rundschau newspaper the hotel was purchased by Consul AG firm, the address of which is stated as Lichtenstein and the owner of which is Redjep Bayturaev (a stated above financier of Rashid Kadirov’s family). There were two firms established at the Marshall Islands and one in Luxemburg, used to transfer the money to buy the mentioned realty. According to the local published media the owner of the hotel intends to invest to the reconstruction of the building 45 million francs more and turn it to a modern congress-hotel.
Concerning luxuries according to different internet sites the General Prosecutor’s family owns “a private airplane – CESSNA Citation XLS”, the interior design of which is made by Diamonite Aircraft Furnishing Ltd., British design company. Besides, Alisher Kadirov possesses a luxury yacht, which costs $85 million US, moored at one of the closed harbors of C-ote d'Azur in France between Marseilles and Menton, the harbor where the best mega-yaughts of the world stay. A yearly membership in this harbour costs around $300 thousand US.
This is not the most complete list of Rashid Kadirov’s business items. Austerity measures within financial centres of the world taken with the aim not to allow “laundering” of the money aquired illegally make the process of its legalizing difficult. So the assets which have not been legalized will stay as a “dead weight” at the accounts at the banks in offshore territories, and there is no quarantee for safely functioning of them in nearest future. So the time for Rashid Kadirov is rather limited, but the money which have not been laundered and moved out is still too much.
Vyacheslav Komarovskiy