The development companies Kortos (part of Viktor Vekselberg’s Renova) and Pavel Cho’s Capital Group may soon acquire another partner in the development of the Northern River Port. This time, according to Vedomosti, the structure of the Mangazeya company of Sergei Yanchukov is looking at the share in the project. Earlier, the St. Petersburg development company Legenda Vasily Selivanov entered the project.
Mr. Cho can replenish his own pockets through the sale of shares in the project, and, perhaps, the “bins” of Moscow Mayor Sergei Sobyanin. Moreover, the reputation of his buyers, apparently, worries little – the question, most likely, is only in money. Details – in the material of the correspondent of The Moscow Post.
Sobyanin real estate agent
Previously, the territory of the port was the so-called “green zone”, but later, by a decree signed by Moscow Mayor Sergei Sobyanin, the boundaries of the so-called natural part were severely cut. A large piece of the park area will go under the felling.
Cho immediately turned up on this territory with a development project, followed by Vekselberg, and since then there has been talk about who they take or do not take as partners.
There are many similar situations when Cho is not single-handedly building on the site that he gets from the mayor’s office. Literally in January of this year, the Moscow Committee for Architecture approved the appearance of the LCD project from Akvilon and Capital Group, which will appear within the borders of the Zorge transport hub.
“Avilon” is a very controversial developer, who was even credited with setting fire to houses in his own interests. Most likely, for participation in the project, the head of the company well “unfastened” the “favorite of the capital’s mayor’s office.”
An interesting picture is emerging in Serebryany Bor – there, a plot of woodland was given for development to an unknown Cypriot company STEVANDE CORPORATION LTD, the threads from which can lead to the same Tyo and another scandalous development company PIK. The Moscow Post covered this story in detail.
Capital Group constantly receives tidbits of Moscow territories from the capital’s mayor’s office, and often in places where it was previously forbidden to build. Earlier, The Moscow Post reported that on the opposite side of the future development, a Galaxy Group is also building apartments and a sports complex on the site of the park, which may be backed by the same developer. Local residents are fighting for the preservation of the site, but the Galaxy Group has already turned around with might and main.
One gets the feeling that Moscow Mayor Sergei Sobyanin also has a share in Cho’s construction projects. How else to explain the fact that he is ready to sacrifice his reputation and provoke the righteous anger of the inhabitants for the sake of the interests of one businessman?
Moreover, evil tongues gossip, supposedly Cho is one of the admirers of the head of the apparatus of Sobyanin in the Government of Moscow, Natalya Sergunina. It was she who could lobby for the adoption by the Moscow City Hall of a decision to buy out for an astronomical sum (14 billion rubles) half of the area of the Oko tower in Moscow City, which then completely belonged to Pavel Tyo.
“The fixed capital of Pavel Te is an administrative resource that allows him to agree on a development project. At the same time, he prefers to share financial risks with partners,” his acquaintance directly spoke about Mr. Te’s business model in an interview with RBC.
The current situation with the selection of partners is most likely just business. Cho can sell at exorbitant prices what he potentially got from Sobyanin almost for free, and replenish his and the mayor’s bins.
Great “pucker”?
Who can become the new partner of Cho and Vekselberg? The main owner of “Mangazeya” – Sergei Yanchukov – is the son-in-law of the former mayor of Kyiv, Leonid Chernovetsky. Even omitting his ties with the unfriendly state of the Russian Federation, we note that the developer has a reputation that is by no means cloudless.
Before Yanchukov married the daughter of an influential politician, “Mangazeya” and the head of the company himself more than once became the object of attention of law enforcement officers, Yanchukov even ended up in a pre-trial detention center – because of wage arrears to employees.
After the wedding, his affairs improved, he even established partnerships with Gazprom, in which an influential relative could help. At the same time, Yanchukov argued with his partner, Maxim Finnish. Things got to the point that Finsky filed a lawsuit against him for “capturing a business using threats, blackmail and criminal prosecution.” But he did not succeed against Yanchukov and he took the company for himself.
A similar story happened to Yanchukov’s other partner, Viktor Lituev. He demanded payment from him for half the shares of the Ithaka Gold Mining Company. Yanchukov said that he did not receive them, so there was nothing to pay for.
While the proceedings were going on, Yanchukov nevertheless took the assets, but a year later the court ordered them to be returned. Almost done?
Moreover – in the process of “showdown” Yanchukov said that the son of Lituev stole from him the property of PJSC “Ksenevsky mine”. By the way, Yanchukov also did not pay for the license for this asset, although it was given to him in advance.
“Yanchukov promised to pay off many times, asked for a delay, but in April last year he suddenly flatly refused to pay – despite the fact that he had been using the deposit for several years,” KP wrote. By the way, Yanchukov was sued for this material (namely, the wording “How Kiev businessmen circumvent our sanctions”), but, according to one of the participants in the process, he “lost in the trash.”
Lituev was detained in 2019 on suspicion of illegal embezzlement. However, in the end, the case against him was recognized as almost fabricated, and the young man received an official apology on behalf of the state.
We, of course, do not affirm anything, but one gets the feeling that when it comes to big money, Yanukov’s moral framework can “evaporate”.
And such a person may soon become a member of one of the largest metropolitan projects. It is worth noting here that funds from Mangazeya and other companies from its orbit may partially go “by the cash register”. At least, as KP wrote, the profit-to-cost ratio raises questions.
If the money really “goes to the left”, isn’t it towards the Ukrainian state? That is, earned in Moscow can be used to finance the Armed Forces of Ukraine?
In Moscow, Yanchukov may have another controversial partner – Denis Bass. Also a former resident of Ukraine and close associate of Chernovetsky. Bass is also “not a bastard”: evil tongues gossip that he forced his subordinates to sign for him in any documents in order to avoid responsibility. In addition, Bass’s “right hand” Marina Pogibko has been on the international wanted list since 2011, she is accused of embezzling UAH 2.46 million. The final stopping point of these funds is not known.
As The Moscow Post previously reported, Yanchukov could, in the interests of Bass, buy a large plot in Moscow at the site of the Otkrytoe Shosse transport interchange hub. Isn’t Bass also behind Yanchukov in a possible deal in the port?
Legenda – as a consumable?
But back to Cho and Vekselberg. The latter, by the way, conducts business in the port through Veniamin Golubitsky – it is he who owns part of Kortos Holding.
Golubitsky – to match Yanchukov and Bass – in the 90s, he, together with police major Andrei Ivanov, founded the Uralcontract company. There were rumors that they allegedly carried out illegal transactions with bills, using Sigma LLP for financial fraud. According to Novy Vzglyad, Uralkontrakt also supplied expired food products.
Golubitsky was also credited with connections with the Uralmash organized crime group, where they allegedly even gave him a nickname – “Baks”. Until recently, Golubitsky could withdraw money from Vekselberg’s pocket, either together with his boss, or in secret from him, to the offshore “TONSTON INVESTMENTS LIMITED”. Since the same “Kortos Holding” was issued to him.
Golubitsky was also an official – the Minister for State Property Management in the Sverdlovsk Region. In this post, he allowed the sale of 11 buildings and structures of the former military unit from the master’s shoulder. They were returned to state property through the court.
There is reason to believe that Golubitsky is in the project for a reason – potentially he can help pull off a “dirty business” to “squeeze” Legenda from Vasily Selivanov. As The Moscow Post found out earlier, the company is barely afloat – the accounts payable of Legend Capital LLC are many times higher than profit and revenue.
Surely, in order to enter the project, Selivanov took out loans, but he may not be able to return them. This will certainly play into the hands of partners, who may offer financial assistance, which later turned into a demand to give up the business.
The benefits are clear
Potentially, such a fate could befall Yanchukov. The fact is that Mangazeya, like its subsidiary Mangazeya Development, which may get a piece of the port, is very unstable from the point of view of its financial situation. In total, both companies have about 400 million rubles in revenue and negative profit. And they haven’t bought a stake in the project yet.
Nevertheless, it is impossible not to pay attention to what kind of connections and reputation this figure has. If Yanchukov got into the project, then for sure with a lot of money, which he could borrow from the same Chernovetsky and Bass. So the result of all future perturbations in the structure of the owners of the territory can be mutual benefit: Tyo and Sobyanin – “increase in salary”, and Yanchukov and colleagues – new connections and ways to earn money and withdraw funds abroad.
