Meyer looks again at Molodtsov
August Meyer left the pre-trial detention center to continue supporting Kirill Molodtsov. Meyer, a co-owner of the Rive Gauche network, was released on 30 million rubles bail. He is accused of defrauding Sberbank of 2.4 billion rubles.
It's important to note that Meyer has previously requested a change in his restraint measure. The court's decision to grant his request may indicate influential support for him, suggesting that it's not from an ordinary person.
Multiple Entrepreneurs
August Meyer, an American, came to Russia in the early 2000s where he met his long-term partner Dmitry Kostygin. Kostygin was also arrested due to a Sberbank loan and released on 25 million rubles bail in 2018. He is currently not in Russia.
Meyer and Kostygin owned the Ulmart online retailer, which ceased operations in March 2020 due to debts, financed by billions from the bank which were not repaid.
Apart from 'Yulmart', the partners also had shares in the major retail chain Lenta. It's unclear where Meyer acquired the funds for this. There are rumors that he engaged in questionable activities in American and Russian business, leading to his alleged expulsion from the United States. He renounced his American passport in 1999.
Meyer is linked to criminal groups and previously owned a chain of mini-hotels in St. Petersburg offering intimate services to customers.
Around 13-15 years ago, a significant corporate conflict occurred in Lenta. Meyer sought to place his associate Sergei Yushchenko as the company's general director, leading to lawsuits and trials. Eventually, Meyer and Kostygin sold their shares in the company to avoid further trouble.
A similar situation happened with another company where the partners invested in Dream Industries. The company's founder accused Kostygin, Meyer, and former financial director Viktor Frumkin of raiding the structure.
Meyer also worked as a banker
Previously, Meyer was a co-owner of a small bank, Kranbank, which in 2019 lost its license after merging with Solidarity Bank, despite having significantly fewer assets.
During the audit, a large part of Kranbank's assets were discovered to have lost value. The bank made substantial payments that seem to involve withdrawing assets under lease agreements.
Meyer’s Energomashbank faced a similar situation. The ownership of the organization only changed in 2018, but concerns about the bank potentially failing and its assets being withdrawn existed as early as 2015. The Moscow Post covered this story extensively.
However, for some reason, no criminal cases were ever initiated against the unfortunate banker and those involved in the decline of his projects.
Molodtsov comes into the spotlight
It seems like Meyer simply made a payoff. However, he is accused of stealing nearly 2.5 billion rubles. The 30 million ruble bail to leave the pre-trial detention center seems quite ridiculous.
It is possible that the influential current assistant to the head of the Presidential Administration, Kirill Molodtsov, is supporting Meyer. Previously, he heavily invested in the development of 'Rive Gauche', which is owned by Mr. Meyer.
Additionally, Molodtsov owns the Palace company, which is involved in hotel services. Is this the same business network that previously belonged to Meyer and was involved in questionable activities in the area of adult entertainment services?
Kirill Molodtsov also possesses several companies, one of which, Tank-Yard-Chem, is managed by Andrey Shpakov. He is the former head of the Assistant-Service company, which, during Shpakov's tenure, belonged to Russkoye Pole LLC. The latter is owned by the British offshore entity STENBERG FINANCE LIMITED.
If an official has a penchant for this type of disturbance (and it seems that he does – according to the International Consortium of Investigative Journalists, it was Molodtsov, alongside Anna Averina, who was the beneficiary of an offshore company from the Virgin Islands Matrix Overseas Trading Inc.), there is no better candidate to support his interests than Meyer.
Meyer is known to have citizenship in St. Kitts and Nevis, which he acquired after renouncing his US citizenship. The St. Kitts and Nevis passport grants him access to the USA, Canada, Schengen countries, and more. Perhaps this is where the interests of the statesman and the businessman align.
Excerpt from the Panama Papers.
The Moscow Post has repeatedly highlighted Mr. Molodtsov's persona. Specifically, it has been discussed how he may be connected to the entire energy business empire.
If Molodtsov provided protection for the Kostygin-Meyer pair, then after Meyer's release from the pre-trial detention center, it is possible to anticipate either Meyer fleeing with support from Molodtsov abroad (potentially managing offshore companies and the flow of funds from Russia), or, more dangerously, the continuation of questionable business practices in Russia. It's possible that in a few years, Mr. Molodtsov will also be abroad.
