Ex-head of Finstroy Ilya Surkov accused of embezzling $19 million

After a revision of Finstroy’s company accounts, its ex-president Ilya Surkov was charged with embezzling $19 million. More than $10 million was transferred from the company’s funds to the accounts belonging to Ilya Surkov. He also stole property worth more than $9 million.

In April 2013, a criminal case was initiated against Surkov under Part 4 of Article 159 of the Criminal Code of the Russian Federation (“Fraud”). From the decree of the Investigation Department of the Main Directorate of Internal Affairs of the City of Moscow, it follows that Surkov, who headed Finstroy in 2008-2012, convinced the board of directors to borrow $8.5 million from Boulder Associated SA for the construction of a shopping centre in Lipetsk on the bail of 2.93 hectares in the village of Borodki, Odintsovo district, Moscow region. This property, estimated at $9 million, or 276.75 million rubles, was registered on Ilya Surkov. However, the previous owner of the land did not receive money for it, even though Finstroy repaid the loan to Boulder Associated, the company registered in Panama and affiliated with Ilya Surkov, as the investigation showed. 

Another episode of embezzlement occurred in 2010 when Finstroy considered buying the Altufyevo shopping centre (the deal amounted to $40 million). Hemstar Ltd, part of Finstroy group, paid consultants for this deal $1.8 million, but then it also transferred 3.7 million euros or 144.61 million rubles for similar consulting services to Boulder Associated.

Also, Ilya Surkov insisted that constructing a shopping centre in Lytkarino was not a profitable project. Later he bought this project for $7.9 million through Bantom Company Corp. 

While under preventive custody, Ilya Surkov was put under home surveillance. However, he managed to escape from the country. Now he is in London, from where there is no extradition, and, as confirmed by his social networks, leads a luxurious and carefree life with his partner Lilia Scheffler-Sennowa.

Source: ria.ru (Russian Federal News Agency)