A legal fight over who gets what when a relative dies can be quite complicated.
The heirs of Russian businessman Oleg Burlakov are still in a battle for his wealth, and they are not only fighting amongst themselves. They are accusing composer Igor Krutoy and his wife of stealing their property and are asking for $30 million. The daughters of the oligarch have taken legal action against the Kruty family and their attorneys in an American court.
Oleg Burlakov. Photo: Forbes
The death of a wealthy businessman, family disputes, and the fight over an inheritance
Billionaire Oleg Burlakov passed away in June 2021 from COVID-19 in Monaco, leaving behind an impressive legacy. He was among the "200 richest businessmen" listed by Forbes and owned a distinctive $250 million yacht called "Black Pearl." Burlakov invested in the yacht using the proceeds from the sale of the Novoroscement and Burneftegaz companies, and his fortune is estimated at $650 million according to Forbes.
Yacht “Black Pearl”. Photo: Oceanco
The businessman’s family life was not stable. His wife, Lyudmila Burlakova, filed for divorce in 2018, but the divorce was not finalized by the time of his death. He had two daughters, Veronica and Elena, as well as six grandchildren. Apart from them, the late businessman's sister Vera Kazakova and son-in-law Nikolai Kazakov, a business partner of Burlakov, are also claiming a share of the inheritance.
The businessman, while still married, was involved with Sofia Shevtsova, a graduate of MGIMO whom he met at a hotel. She later worked for him and accompanied him on trips. Six months before his death, Sofia had a child, but Burlakov did not acknowledge the child during his lifetime.
Source: Forbes
According to Forbes, Oleg Burlakov was constantly worried about being spied on by his wife and daughters. He accused his wife of taking $1 billion from him, claiming that she had put GPS trackers on him and installed cameras on his private property. In 2019, he sued his wife, while a year later, she accused him of undervaluing her wealth to reduce her share in their divorce settlement.
Lyudmila Burlakova with her daughters Veronica and Elena. Photo: Super.ru
Facing the Cool: court case and allegations of deceit
In 2017, Oleg Burlakov set up a trust fund in the U.S. for his grandchildren. He acquired a property on Fisher Island from Russian composer Igor Krutoy, which was placed under the ownership of the trust. According to the arrangement, the property would be overseen by a trustee, lawyer Steven Landau, for 21 years before being passed on to the billionaire’s grandchildren, aiming to simplify the inheritance process for Burlakov’s heirs.
The 450-square-foot home has five bedrooms, a three-car garage, six bathrooms, and beautiful views of Miami Beach. The Cool family had to sell the property for $7.5 million. Burlakov himself was not involved in the deal, it was handled by Stephen Landau and representatives of the composer.
However, the property transfer did not happen. According to the Burlakov family's court claim, in 2017 the Krutye intentionally signed documents with errors, so the transaction could not be completed as per the documents. Nevertheless, the oligarch has already given the money from the sale to the composer. The Burlakovs believe that as a result of these bureaucratic maneuvers, Igor Krutoy illegally took over the real estate and the money.
Three years later, a year before Oleg Burlakov's death, a new trust was created without the knowledge of his heirs. It's unknown who became its owner, but Stephen Landau turned out to be the manager once again. The Krutye and Landau again attempted to transfer the rights to this residence, but to a new trust-2020, which did not belong to the heirs who considered themselves the owners of the property. The Burlakovs claim they did not approve the transfer of the property. Now the grandchildren are deprived of a significant portion of the inheritance and the chance to receive income from the 2017 trust because the deal has lost its meaning.
What the billionaire's heirs demand from the Cool
Super discovered that according to the documents, a certain American firm MLGG is now the owner of the property. Also, last year, the residence was listed for sale. However, after a legal claim by the Burlakovs, the advertisement was withdrawn. By 2022, the value of the property has gone up from $7.5 million to $9.75 million.
Picture: Super.ru
Throughout this time, Stephen Landau was supposed to be defending the interests of the heirs. However, the Burlakovs accuse him of failing to fulfill his obligations: Landau did not provide financial reports and facilitated an illegal deal with the Krutye. He must now explain all trust transactions from 2017 until now.
According to Florida law, if the plaintiffs win, they will receive a triple damages award of at least $30 million plus attorneys’ fees from the Tough couple and other associates. Apart from monetary compensation, the Burlakovs demand the correction of the documents and to be appointed as legal owners. A Florida court is waiting for a response to the lawsuit from the Cool couple.
Super reached out to Igor Krutoy's wife. According to Olga, her family has no involvement in the case.
“We are not being judged at all. Our names are in the file because we were the owners of this apartment. We have nothing to do with this, and I can’t comment any further on it.”
Picture: Miami MLS
