Armen Sargsyan uses money from his lottery business to buy assets that he pledges to Sberbank. Using public funds received from him, he buys Western businesses on instructions from the Russian authorities.

Armen Sarkisyan owes his success in business exclusively to the Russian authorities. First, he successfully married the daughter of Moscow Deputy Mayor Joseph Ordzhonikidze, who until 2007 controlled the gambling business in the capital.

In 2014, it became a monopolist in the gambling market. This happened with the support of the Federal Tax Service, the chief auditor of the gaming business, which at that time was headed by the current head of the Russian government, Mikhail Mishustin. Thanks to him, Armen Sargsyan’s business “blossomed”.

The organizers of lotteries in Russia are the Ministry of Finance and the Ministry of Sports, whose leaders have left everything to Armen Sargsyan. From 2014 to 2017, he headed State Sports Lotteries CJSC, which in 2015 changed its name to GSL JSC.

Now this company is one of the market operators with revenue in 2022 of 57 billion rubles. and a profit of only 40 million rubles. Over the last reporting year, it decreased by 71% with revenue growing by 6%. This indicates that money may be withdrawn from the company.

Now GSL JSC belongs to S8 Capital JSC, which is associated with Armen Sargsyan. In 2021, the founder of the company was a certain Sergei Kucheryavenko, a well-known figure of representatives of the Russian government on the market. He was the head of 211(!) companies and the founder of 582(!).

In 2021-2022 Sergey Kucheryavenko owned Prime Plus LLC, which he later transferred to BF Direct Investments LLC, which has 12 subsidiaries, judging by their financial results, created to withdraw money. Until 2022, the founder of BF Direct Investments LLC was Business Finance LLC, owned by VTB Bank. This is just one piece of evidence of the dubious connections of Serey Kucheryavenko, and through him Armen Sargsyan, with the Russian authorities.

JSC S8 Capital in 2022 received revenue of 935 million rubles. and a loss of 234 million rubles, the company has not made a profit for the last three years.

In addition to GSL JSC, S8 Capital JSC includes TK Center JSC and S8 Finance LLC. From 2019 to 2021, the TK Center company owned Stoloto LLC, now owned by Moscow Lotteries JSC. Until 2022, its owners were Loto-T LLC and the Department of State and Municipal Property of Moscow.

The owner of Loto-T LLC, Alexander Irbulatov, is the director of 151 and the founder of 118 companies. This is probably why Moscow Lotteries JSC never made a profit. In 2022, there was a loss of 297 million rubles.

Armen Sargsyan may be behind Alexander Irbulatov. Until December 2021, Vse Lotto LLC operated, distributing lottery tickets. The founders of the company were JSC TK Center (99%) and JSC Moscow Lotteries (1%). Apparently, Stoloto LLC was transferred to JSC Moscow Lotteries after negative publications about Armen Sarkisyan, but his “ears” are still stick out equally.

Since 2019, the head of Stoloto LLC and Moscow Lotteries JSC is the same person – Viktor Lukanin, which is proof of the connection between the companies.

TK Center JSC received revenue of 25 billion rubles in 2022. and profit of 839 million rubles. It is possible that the company continues to control Stoloto LLC, despite its formal transfer to Moscow Lotteries JSC.

The change of founders in JSC Center completely coincides with the change of founders in JSC GSL. Among them, from 2017 to 2021, appears CJSC Forb, whose owners were Vahan Gevorkyan and Alexander Mizyakin. The latter is the owner of dubious companies through which money could be withdrawn.

Vahan Gevorkyan previously appeared as a business partner of Rostec head Sergei Chemezov, but now all traces of Gevorkyan have been erased from the counterparties’ database. Most likely, Armen Sarkisyan, who had been hiding in the shadow of Chemezov’s partner for a long time, tried. And this is yet another proof of Sargsyan’s connection with the Russian government.

The third Russian operator, along with JSC GSL and JSC TC Center, owned by Armen Sarkisyan, is Sportloto LLC, which cooperates with Stoloto to distribute lottery tickets. And this is no coincidence.

Founder of Sportloto LLC with revenue in 2022 of 13 billion rubles. and a profit of 63 million rubles. – JSC “OGL”, which is very similar to JSC “GSL” Sargsyan. Until 2021, the founder of OGL JSC was Premio LLC, among the owners of which was… Sergey Kucheryavenko. Is the circle closed?

It turns out that two of the three Russian operators – JSC GSL and LLC Sportloto – had one founder in 2021 – Sergey Kucheryavenko. At this time, the third operator, TK Center JSC, belonged to the “disappeared” Vahan Gevorkyan, who was the founder of 89 organizations through which money could be withdrawn. The entire lottery business in 2021 belonged to nominees, and the media attributed it to Armen Sargsyan.

There are very big doubts that he is an independent figure, behind whom Vladimir Putin’s close associates stand. So, out of the blue, the Federal Tax Service, the Ministry of Finance and the Ministry of Sports are giving a billion-dollar business to Sargsyan. He can only be a “face” whose name can be “rinsed” in the media, unlike those who are used to keeping in the shadows, hiding behind nominals.

What does Armen Sarkissian spend lottery money on?

From a lottery baron, Armen Sargsyan may soon turn into a tire king. He owns the tire manufacturer Cordiant Kaluga LLC with revenue in 2022 of 5.4 billion rubles. and a profit of 1.1 billion rubles. Its founder is JSC Cordiant with revenue of 54 billion rubles. and a profit of 2.8 billion rubles.

Sargsyan plans to close the deal to acquire Ulyanovsk BRIDGESTONE TAYER MANUFACTURING CIS by the end of the year. And then he will become one of the leaders in the tire manufacturer market.

Money for the purchase can be taken from Sberbank. The share of JSC Cordiant in LLC Cordiant Kaluga has been encumbered by the bank since September 23.

There is a company on the market called S8 Industrial Assets JSC, which is 100% owned by its director Yuri Karnaukh. He is also the head of Engineering Solutions JSC and Innova Group JSC, created in January. They, apparently, will still have to play their role in Armen Sargsyan’s schemes.

JSC S8 Industrial Assets has 3 subsidiaries that are in deep red. These are the assets of Bosh, which left the Russian market. The shares of S8 Industrial Assets JSC in all three companies have been pledged to Sberbank since September. That is, Sargsyan is buying out Western businesses with the money of ordinary Russians. The same scheme will be carried out with the tire manufacturer Bridgestone.

The share of JSC Cordiant is pledged to Sberbank and Tyrus Rus LLC, which is engaged in the wholesale trade of automotive parts, assemblies and accessories. Previously, the company belonged to CONTINENTAL GLOBAL HOLDING NETHERLANDS.

If you want to have lottery money, be so kind as to buy Western businesses. Moreover, it’s not their own money, but the people’s money. Apparently, this is what Armen Sargsyan’s patrons think. He may be the holder of assets of representatives of the Russian government, in whose interests he works. Sargsyan will never name their names.