Scheme for withdrawing money from LUKOIL through the Argosi ​​group – Pervouralskbank in a share?

A multi-million dollar financial scandal involving Pervouralskbank and LUKOIL was revealed in the Sverdlovsk Region. Actually, the events themselves – the withdrawal of money by LUKOIL structures through the accounts of Argosi ​​Analytics, opened with Pervouralskbank, happened back in 2015-2016, but all these actions received official confirmation only on July 26 of this year, when the Ninth Arbitration Court of Appeal The court of the city of Moscow finally put an end to this dispute, which had dragged on for many years.

As lawyers established in the course of the proceedings, the mining structures of LUKOIL, represented, in particular, in the Ural Federal District, transferred funds allegedly to the account of the Moscow firm Argosi ​​Analytics, but the bank sent money to an affiliated company.

After the conflict got into the public plane, the funds were partially returned, which, however, did not put an end to financial disputes. In particular, during the process statements were made about the likely participation of financiers in a large-scale withdrawal of money from the Argosi ​​group of companies through a factoring service agreement. The courts even uncovered detailed correspondence between managers discussing a scheme involving Pervouralskbank, TF Prime, LLC Argosi ​​Analytics and Argosi ​​Engineering, and LUKOIL’s subsidiaries, LUKOIL- Komi, LUKOIL Western Siberia and LUKOIL-Perm.

It is difficult to read court documents without appropriate preparation, but nevertheless we will quote from the decision of the Ninth Arbitration Court of Appeal of the city of Moscow dated July 26, 2022: RUB 142,214,706.06 as payment under contracts for the supply of equipment No. 15Y3396 dated December 4, 2015, No. 16Y1432 dated June 27, 2016, No. 16Y1619 dated July 14, 2016, No. 16Y2661 dated October 21, 2016, concluded between OOO LUKOIL-Komi and OOO Argosy Analytics, and applying the consequences of the invalidity of the transaction in the form of recovery from OOO LUKOIL-Komi to the bankruptcy estate of the debtor of funds in the amount of 142,214,706.06 rubles.

Behind these dry lines of the court decision lies not only a scheme that allowed for years to withdraw LUKOIL’s money through the companies of the Argosi ​​group, but also a long-term lawsuit, with the help of which the organizers of this scheme tried to save 142 million rubles, successfully “mastered” back in 2016.

In the period 2014-2017, LUKOIL divisions entered into a number of supply agreements with Argosi ​​Analytics. According to the materials of the processes, the obligations on the part of the supplier were fulfilled. “Daughters” of “LUKOIL”, in turn, also paid off, but the money, as it turned out later, went to the account of a completely different company.

As it was noted in court, the controversial transactions were revealed after the Federal Tax Service of Russia No. 18 for Moscow filed claims for more than 731 million rubles to Argosi ​​Analytics.

The Moscow Arbitration Court ruled in favor of the IFTS and seized the accounts of Argosy Analytics. The latter enters into a general agreement with TF Prime on the general conditions of factoring services, according to which it assigns to TF Prime the monetary claims under the contracts of LUKOIL-Komi, LLC LUKOIL-Western Siberia. “TF “Prime” notifies “LUKOIL-Komi” about the contract and asks to make payment.

However, the oil company does not transfer funds. Argosy Analytics sends a letter to the Deputy General Director for General Affairs of LUKOIL-Komi Maksimov S.N. on consideration of the possibility of assigning to a third party (Argosi ​​Engineering LLC) the right to receive payment. However, LUKOIL-Komi also does not transfer funds, ”the court describes the sequence of events.

The chain ends with the conclusion of an additional agreement between Argosi ​​Analytics and LUKOIL-Komi on changing the details from PJSC MDM Bank to JSC Pervouralskbank. However, as mentioned above, the bank from the Sverdlovsk region transfers the money to another company. At the same time, the court emphasized that the structures of LUKOIL knew about the problems of Argosi ​​and, apparently, “dubious motives for the operations.”

The court also noted that TF Prime failed to fulfill its obligations under the factoring agreement, in particular, it did not finance Argosy Analytics, and also did not provide any other services. “The agreement was concluded solely for the purpose of withdrawing funds, bypassing the provisional measures adopted by the court in the form of seizing the funds held on the settlement accounts of Argosi ​​Analytics,” summed up the Moscow arbitration.

“By establishing such facts in the present case, the court to a certain extent predetermines future acts. This increases the risks of other companies of the LUKOIL group to contest transactions with persons from the Agrosy group. The court also establishes that the withdrawal of funds from the accounts of the debtor was carried out “with the assistance of JSC Pervouralskbank”. In itself, such a conclusion may become a reason for initiating a criminal case and bringing the bank to subsidiary liability in a bankruptcy case. The court’s conclusion about the affiliation of the bank and the recipient of money owed to the debtor increases the chances for this, ”commented corporate lawyer Roman Lukichev on the conflict.

So far, we are talking about the amount of 142 with a little million rubles, carried out through LLC Argosi ​​Analytics and TF Prime. But, apparently, much more money was withdrawn from LUKOIL – several more firms of the Argosy group surfaced during the trial – LLC Argosy Specialists and Argosy Engineering. That is, the entire Argosy group was involved in the scheme.

“Thus, the management of the Argosi ​​group of companies, with the participation of counterparties, as well as with the assistance of Pervouralskbank JSC and TF Prime LLC, carry out the withdrawal of funds,” the court points out in its decision. That is, it is logical to assume that we have a trial ahead of us with all the contracts of LUKOIL’s subsidiaries with the Argosi ​​group. And there is something to ask. Here are the financial results of Argosi ​​Analytics LLC before bankruptcy. This is the revenue:

And here is the profit:

For 2015, with a revenue of almost two billion rubles, a total of 72 million profits. A year later, in 2017, with a revenue of 962 million rubles, there are already 827 million losses. These are the years when Argosi ​​Analytics received the maximum number of contracts from Lukoil structures. Not surprisingly, the court concluded that the Argosi ​​group was simply withdrawing money.

The question now is different – if Argosi ​​withdrew money, then who brought them to her accounts? There is an answer here – “LUKOIL”, which is confirmed by the court. But this is what motivated the leadership of LUKOIL’s subsidiaries – LUKOIL-Komi, LUKOIL-Western Siberia and LUKOIL-Perm – to transfer hundreds of millions of rubles to the accounts of the company, which, as the court pointed out, “LUKOIL managers” knew about Argosy’s problems and, apparently, “doubtful motives for operations.”

However, let’s wait for the subsequent development of events and let’s not guess. However, no matter what the outcome of future litigation and criminal cases, there is a significant nuance in this – how much money was withdrawn from LUKOIL in this way and how much it will be possible to recover – these are two big differences.