The mobilization announced in Russia prompted not only ordinary Russians who are subject to conscription into the ranks of the armed forces to leave the country, but also accelerated the relocation of business structures.
Thus, all the employees of billionaire Timur Turlov, who is the founder and majority owner of the investment group LLC IC Freedom Finance with the “parent company” Freedom Holding Corp., have already been transferred to Kazakhstan from Russia. If earlier a number of media outlets called Timur Turlov an ordinary fraudster with a Ponzi pyramid, now this individual deserves much more serious attention.
Currently, Turlov, despite repeatedly and publicly voicing promises to create jobs for citizens of Kazakhstan, actually reduces the number of Kazakhstanis involved in his structure in favor of immigrants from Russia – many of those who follow the labor market know that Russians are already forced out more than half of the Kazakh employees in the structures owned by Turlov. This situation is developing in companies that Turlov owns directly: LLC IC Freedom Finance, Bank Freedom Finance Kazakhstan JSC – the former Bank Kassa Nova JSC, Freedom Finance Insurance and Freedom Finance Life. And also in those companies that he controls through authorized persons – Vitaly Dyadchev and Viktor Shadrin: the Kursiv publication, the Freedom Finance Credit microfinance organization, the Finpari brokerage, the Freedom24 online securities store. Moreover, after Turlov announced that the Moscow office of his company Freedom Holding Corp would be completely closed, the jobs of Kazakhstanis in the companies partially controlled by him were also at risk: BAST JSC, Chocofamily Holding, Arbuz Group, Naimi kz”, “Relog”, “Cerebra”. At the same time, all leading positions in Turlov’s structures are also occupied by Russian citizens, even in cases where this is expressly prohibited by national legislation.
How do Timur Turlov and Bulat Utemuratov work?
It is believed that such actions, as well as the billionaire’s business in general, which is implemented through illegal financial transactions and resembles a financial pyramid, are possible only thanks to Turlov’s patrons, close to the first president of Kazakhstan, Nursultan Nazarbayev, and the former head of the KNB, Karim Massimov. Without such patrons, no business of a young Russian – and Turlov is only 34 years old – could not only achieve a capitalization of a billion dollars, but even exist on the territory of Kazakhstan.
As you know, one of the patrons of billionaire Timur Turlov is the oligarch Bulat Utemuratov, Nursultan Nazarbayev’s “purse”. In particular, this is indicated by the acquisition of the Bank Kassa Nova JSC for $52 million, which is considered sham, since the market valuation of the bank, which ranked fifteenth among all second-tier banks in Kazakhstan, was much higher. De facto, with this deal, Utemuratov entrusted Turlov with part of the assets, the ultimate beneficiary of which may be directly the first president of Kazakhstan. It is no coincidence that Turlov was subsequently included in the implementation of a number of socially significant projects that are connected with the family of the former father and the leader of the nation; for example, Turlov began financing the Almaty football club Kairat after the arrest of Kairat Boranbaev. Turlov publicly denied the purchase of the football club, but during the club’s games on the VIP stand, where Boranbaev had previously sat, it was Turlov who was seen, and moreover, it was Turlov who, instead of Boranbaev, was appointed a member of the executive committee of the Kazakhstan Football Federation.
In addition, the same Turlov financed a commemorative football tournament in honor of Nazarbayev’s nephew, Aisultan Nazarbayev, at which Dariga Nazarbayeva personally presented the prizes, and also financed a football media project and the creation of a youth football league. It must be assumed that all these actions of Turlov are not connected with his personal love for Kazakhstani football, but are dictated by the interests of the Nazarbayev family, which, dreaming of political revenge, wants to maintain control over the large army of Kazakhstani football fans. Also, one of the media assets of the family of the former father and leader of the nation, Channel 7, was transferred under Turlov’s control, which was previously financed and controlled by Alexander Klebanov, a confidant of Dariga Nazarbayeva.
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All this indicates that Turlov, through the investment group LLC IC Freedom Finance and the “parent company” Freedom Holding Corp, launders the corruption funds of the family of the first president of Kazakhstan. This happens through a network of offshore companies in Belize, Cyprus and the United States, since initially Turlov’s brokerage business was built on strange transactions of clients’ money through offshore jurisdictions with subsequent legalization on accounts in brokerage companies in the United States. In the United States, Turlov’s goal is to acquire shares in various companies, while the shares are acquired not in the name of clients, but in the name of these very companies – “gaskets” from offshore jurisdictions. The complicated scheme of acquiring shares of various companies and the fact that ordinary clients who trusted Turlov’s business schemes, after depositing cash, are forced to comply with a 93-day ban on the sale of securities on the exchange and over-the-counter market, have already attracted the attention of the Securities Commission to the activities of the billionaire and US exchanges (SEC). In the event that the United States closes Turlov’s access to buying and selling securities, all his clients will remain deprived of access to funds, which will instantly lead to the collapse of the financial pyramid.
It is believed that before the tragic “January events” Timur Turlov felt quite secure at the expense of clients from Nazarbayev’s inner circle, who were interested in anonymously buying up securities in the United States. However, now, although he continues to rely entirely on the representatives of the “old Kazakhstan”, he, nevertheless, cannot be called an untouchable person.