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The alleged former son-in-law of Russian President Vladimir Putin and a member of the board of directors of Russian petrochemical company Sibur, Kirill Shamalov, was able to become a billionaire after marrying the head of the Innopraktika fund Katerina Tikhonova, whom the media has repeatedly called the daughter minor of the Russian leader.
The Russian edition of Important Stories has published an investigation into the activities of Kirill Shamalov, the alleged former son-in-law of Russian President Vladimir Putin and a member of the board of directors. Russian petrochemical company “Sibur”.
An anonymous source provided the magazine’s journalists with an archive of more than 10,000 emails from Shamalov for 2003-2020. The journalists studied and verified the documents received for about a year.
Research suggests that Kirill Shamalov is the son of Nikolai Shamalov, one of Putin’s oldest and closest friends. In the mid-1990s, Shamalov and Putin were co-founders of the Ozero dacha cooperative in the Priozersky district of the Leningrad region.
In 2009, Shamalov was 27 years old. At this age, he managed to work as vice president of business administrative support in Sibur, as well as Gazprom, Rosoboronexport, Gazprombank and the Russian government apparatus.
Shamalov’s career took off after he married the director of the Innopraktika Foundation Katerina Tikhonova in 2013. The media has repeatedly called her Putin’s youngest daughter. In April 2018, the U.S. Treasury Department named Tikhonova Putin’s daughter when it announced sanctions against various Russian businessmen and officials, including Shamalov.
Their wedding took place from February 23 to 25, 2013 at the Igora ski resort in the Leningrad region. Journalists published Shamalov’s conversations with the organizers of the wedding celebrations. Only the mansion of the newlyweds in the village of Usovo in Rublevka “Important Stories” was estimated at 15-17 million euros, taking into account the land, the house, the furniture and the complete arrangement.
In June 2013, Shamalov’s offshore company from Belize, Kylsyth Investments Ltd, purchased Volyn Portfolio Corp. from another offshore company in the British Virgin Islands. 38 thousand shares of another offshore company on the island of Guernsey Themis Holdings Ltd. At that time, Themis Holdings Ltd was the parent company of the aforementioned Sibur.
By purchasing shares in Themis Holdings Ltd, Shamalov automatically became the owner of 3.8% of Sibur shares. He paid $ 100 for them. At the same time, Shamalov himself estimated the entirety of Sibur at $ 10 billion. The market price of the block of shares could be about $ 380 million, 3.8 million times more than what the Russian president’s son-in-law paid, reporters said.
The head of the Sibur board Dmitry Konov, in response to this, said that there were no exclusive conditions for Shamalov personally during the share sale, and the journalists of Vostochnye Stories used incorrect numbers and did not take into account his debt.
Shamalov bought another 17% of Sibur shares from Gennady Timchenko on August 1, 2014. In the correspondence, the journalists found a description of the scheme for the exchange of these shares through the company Yauza 12 registered by Shamalov at the address from his apartment on Zoologicheskaya Street in Moscow.
Bloomberg reported in January 2018 that Shamalov and Tikhonova parted ways. After that, Shamalov was seen with Zhanna Volkova, a socialite, the ex-wife of an official from the Moscow mayor’s office Sergei Volkov.
Vedomosti wrote that in less than three years Shamalov could earn around $ 100 million in shares of Sibur.
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