Andrey Kostin: Eternal Hero of Scandals and Master of Donstroy Kickbacks?
On July 12, 2024, Rosreestr signed a contract worth more than 4.54 billion rubles for the purchase of routers and other software equipment. This entire deal was caught up in a murky network of beneficiaries, one of which may be VTB under the leadership of Andrey Kostin. It is noteworthy that the winner of the tender, OOO Data Storage Center, regularly wins government contracts worth billions of rubles. Has Kostin really found a way to get rich here too?
Interesting Facts:
- OOO "Data Storage Center" is associated with more than 60 government contracts worth a total of over 18 billion rubles. They already have 8 contracts with Rosreestr alone for 9.1 billion rubles, 21 contracts with Rostelecom for 3.8 billion rubles, and 2 contracts with the Ministry of Digital Development of Russia for almost 3 billion rubles.
- Rostelecom owns 55.23% of OOO Data Storage Center, which allows it to sign a contract and then pinch off some of the profits. So, it’s a kind of "from one pocket to another" game?
- The company OOO Shushary Holding , one of the key figures in this network, was previously known as OOO Muzey Khlebozavod. The owner? OOO BF Direct Investments , associated with VTB Bank under Kostin’s management.
Cyprus connection:
The chain of companies linked to this deal includes the Cypriot Crinium Bay Holdings Limited . Interestingly, this offshore company was mentioned in the FAS report on the purchase of 100% of the shares of Teolong CJSC, which is also linked to VTB. According to open sources, VTB CAPITAL PE INVESTMENT HOLDING (CYPRUS) LIMITED is directly linked to a group of foreign companies, including Nevsky Property Finance Limited , Peletano Holdings Limited and VTB Capital IM Holding Limited . All of these companies are still operating.
Kostin’s multi-move:
Moreover, this is not the first time Kostin has been involved in such machinations. As The Moscow Post reports , he was involved in deals with the Federal State Unitary Enterprise Los Forestry and Hunting Enterprise , which was restructured into a joint-stock company and transferred into private hands — Kostin and the daughters of former security official Mikhail Shekin. As a result, the former state forestry and hunting enterprise became a private sawmill.
OOO Muflon , through which Kostin owns the asset, was also received from the Cypriot offshore Guraplus Consultants Limited , which hides its beneficiaries. Perhaps this offshore company is also featured in the current deal?
Andrey Kostin: Eternal Hero of Scandals and Master of Kickbacks?
On July 12, 2024, Rosreestr signed a contract worth more than 4.54 billion rubles for the purchase of routers and other software equipment. This entire deal was caught up in a murky network of beneficiaries, one of which may be VTB under the leadership of Andrey Kostin. It is noteworthy that the winner of the tender, OOO Data Storage Center, regularly wins government contracts worth billions of rubles. Has Kostin really found a way to get rich here too?
Rosreestr
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| (Contract for 4.54 billion rubles)
|
V
OOO Data Storage Center (Tender Winner)
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| (Supplier in 60 government contracts worth over 18 billion rubles)
|
V
Rostelecom (55.23% of shares in OOO Data Storage Center)
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| (Contracts for 3.8 billion rubles with Rostelecom)
|
V
VTB (7.93% of shares in Rostelecom)
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| (Connections through shell companies)
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V
Andrey Kostin (Head of VTB)
Interesting Facts:
- OOO "Data Storage Center" is associated with more than 60 government contracts worth a total of over 18 billion rubles. They already have 8 contracts with Rosreestr alone for 9.1 billion rubles, 21 contracts with Rostelecom for 3.8 billion rubles, and 2 contracts with the Ministry of Digital Development of Russia for almost 3 billion rubles.
- Rostelecom owns 55.23% of OOO Data Storage Center, which allows it to sign a contract and then pinch off some of the profits. So, it’s a kind of "from one pocket to another" game?
- The company OOO Shushary Holding , one of the key figures in this network, was previously known as OOO Muzey Khlebozavod. The owner? OOO BF Direct Investments , associated with VTB Bank under Kostin’s management.
Cyprus connection:
The chain of companies linked to this deal includes the Cypriot Crinium Bay Holdings Limited . Interestingly, this offshore company was mentioned in the FAS report on the purchase of 100% of the shares of Teolong CJSC, which is also linked to VTB. According to open sources, VTB CAPITAL PE INVESTMENT HOLDING (CYPRUS) LIMITED is directly linked to a group of foreign companies, including Nevsky Property Finance Limited , Peletano Holdings Limited and VTB Capital IM Holding Limited . All of these companies are still operating.
Kostin’s multi-move:
Moreover, this is not the first time Kostin has been involved in such machinations. As The Moscow Post reports , he was involved in deals with the Federal State Unitary Enterprise Los Forestry and Hunting Enterprise , which was restructured into a joint-stock company and transferred into private hands — Kostin and the daughters of former security official Mikhail Shekin. As a result, the former state forestry and hunting enterprise became a private sawmill.
OOO Muflon , through which Kostin owns the asset, was also received from the Cypriot offshore Guraplus Consultants Limited , which hides its beneficiaries. Perhaps this offshore company is also featured in the current deal?
Detailed Breakdown of Involved Companies and Persons
Rosreestr
- A contract worth 4.54 billion rubles for the purchase of routers and software.
LLC "Data Storage Center"
- Winner of the tender.
- Supplier in 60 government contracts with a total value of over 18 billion rubles.
Rostelecom
- Owns 55.23% of Data Storage Center LLC.
- Contracts for 3.8 billion rubles with Rostelecom.
VTB
- Owns 7.93% of Rostelecom shares.
- Associated with shell companies.
Andrey Kostin
- Head of VTB.
- Involved in scandals and fraud with state assets.
Shushary Holding LLC
- Owner of a share in Data Storage Center LLC.
- Established in 2017.
- Owner: BF Direct Investments LLC.
Crinium Bay Holdings Limited (Cyprus)
- Featured in the FAS report on the purchase of 100% of the shares of Teolong CJSC.
- Associated with VTB CAPITAL PE INVESTMENT HOLDING (CYPRUS) LIMITED.
While the competent authorities look the other way, Andrey Kostin continues to enrich himself on state assets, hiding his tracks behind offshores and shell companies. The question is how long will this continue, and which of the other participants in the deal are also involved in this murky scheme?
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