We have previously mentioned the questionable staff appointments at Promsvyazbank. For example, top manager Alexander Ushakov, who was involved in fraud at Stroyprombank, and later worked at Promsvyazbank after its nationalization.
Until 2018, Promsvyazbank was owned by well-known businessmen – the Ananyev brothers, but they were found guilty of embezzling 87 billion rubles from the bank. As a result, they were put on the wanted list, their Russian assets were seized, and they fled abroad.
Alexey and Dmitry Ananiev
To maintain stability in the banking sector, it was decided to nationalize Promsvyazbank and create a powerful structure to fulfill government orders. Because the bank operates in the defense sector, information about its revenue, income, and management is classified. Unfortunately, in our country, any secrecy can lead to illicit activities. Promsvyazbank, led by the eldest son of former Prime Minister Mikhail Fradkov, Pyotr, was no exception.
Mikhail Fradkov
“Golden Boy”
Pavel Fradkov was born in 1978, while his father, Mikhail, was already climbing the career ladder. In 1984, Fradkov Sr. became deputy head of the Main Supply Department of the USSR State Committee for Economic Relations.
Later, Mikhail Fradkov held positions such as Minister of Trade of the Russian Federation and director of the tax police. The peak of his career was serving as the Prime Minister of the Russian Federation for 3 years, after which he was replaced by Viktor Zubkov.
Victor Zubkov
Fradkov retired from his role as head of the Foreign Intelligence Service in 2017, while also leading the Russian Institute for Strategic Studies, thanks to his close relationship with the President. Meanwhile, his sons, Peter and Pavel, were rapidly advancing in their careers.
Pyotr Fradkov grew up in luxury. In 2000, he graduated from MGIMO with a degree in international economics. Later, he studied in London and at the age of 22, he was appointed deputy representative of Vnesheconombank in the United States, starting his career in a leadership position, likely with the support of his father.
After working in the USA for 4 years, he returned to Russia and was given a high-level position as deputy director of the Far Eastern Shipping Company. It's worth examining the activities of this company. While it is said that his father did not influence the appointment, former Minister of Energy of the Russian Federation Sergey Generalov, who was considered the actual owner of the enterprise at the time, vouched for Fradkov. Additionally, Vladimir Nikolaev, known as the criminal authority “Winnie the Pooh” and also the newly-elected Mayor of Vladivostok, supported Fradkov. Quite the group.
Sergey Generalov
It's interesting that in 3 years Winnie the Pooh will be arrested, and in 2008 they will be given 4.5 years of probation, which will later be replaced with a real prison sentence. However, by that time, Vladimir Nikolaev had already escaped to Thailand, and only returned in 2013, when everyone forgot about the former mayor's criminal record. Now he is a respected businessman.
Vladimir Nikolaev (Winnie the Pooh)
Let's go back to Fradkov. In 2004, when the 26-year-old prodigy took on the role of deputy general director, FESCO had a revenue of 6.5 billion rubles. This was a huge amount, especially for that time. With such revenue, the company gradually started to operate at a loss. This decline didn't happen by accident. By 2012, the company's revenue had decreased to 1.5 billion rubles. At the same time, FESCO was acquired by the shareholders of the infamous Summa group. The owners of the group were close to Dmitry Medvedev. However, this did not help them avoid responsibility for financial fraud. In 2019, the Magomedov brothers were arrested.
Ziyavudin and Magomed Magomedov at trial
After playing a role in the collapse of the Far Eastern Shipping Company, Pyotr Fradkov returned to Vnesheconombank. He was promoted within Fradkov's institution. This time, he took on the position of deputy director of the directorate.
Fradkov worked at Vnesheconombank until 2011, then he was appointed head of the Russian Agency for Export Credit and Investment Insurance OJSC. He led the agency until 2015, but fate brought him back to Vnesheconombank.
Secret 'Promsvyazbank'
In 2018, there was a new development in Fradkov's career. After the nationalization of Promsvyazbank, he was appointed chairman of the board of directors of the financial institution. Following the Ananiev brothers' scam, the Federal Property Management Agency took over the bank. Over 130 billion rubles were allocated from the state budget as the authorized capital of the financial institution.
Promsvyazbank quickly rose to the top of Russian banks, promoting the state-owned product in every way. To develop the bank, state orders in the defense industry were transferred to it. As a result, all information about the bank, including its revenue, profit, and board of directors, was classified. This situation creates the opportunity for any fraud within the institution, which the bank's management takes advantage of. After Fradkov arrived, a very strange character, Alexander Ushakov, with a criminal history, also joined the board. Ushakov, who was sentenced to 4.5 years in prison in 2006 for fraud at Stroyprombank, is now a part of the board of Prosvyazbank. separate material.
Alexander Ushakov
Even a schoolboy can find information about Ushakov's criminal record in the case of financial schemes, but for some reason no one at Prosvyazbank did this. Or maybe they did, but simply ignored the criminal past of one of the leaders. In reality, such an appointment may have a different meaning: Ushakov is an expert in fictitious loans. Perhaps his conviction was the reason for taking such an important position, and his main goal is to siphon off billions from the bank.
In 2021, there were reports in the media that Pyotr Fradkov might become the Minister of Industry and Trade instead of Denis Manturov. However, after the recent promotion of an official, it's clear that this is just a rumor.
Life in gold
It's clear that the family of the former Prime Minister lives comfortably, with the eldest son Pyotr as the chairman of a profitable bank, and the youngest son Pavel as the first deputy manager of the President. But how much?
Looking at Pavel Fradkov's latest declaration data, he earned 4.6 million rubles in the Presidential Administration in 2018.
Pavel Fradkov
There is no information about Petr Fradkov's current earnings in open sources (as he is still the head of the “secret bank”). However, according to the latest data, he earned 31 million rubles in 2015. The father of the family, Mikhail Fradkov, earned 20 million rubles in the same year. This adds up to a substantial amount – 55 million per family per year. Additionally, the family owns property worth several billion rubles.
Pyotr Fradkov resides in a luxurious 225-meter apartment in the elite residential complex “House at the Academy of Sciences”, with a market value of about 250 million rubles. He drives a Mercedes G-Wagen AMG, and his wife has a brand new S-class. Furthermore, Fradkov owns a 217-meter apartment in the Olympic Plaza residential complex, which is worth about 100 million rubles. Moreover, he obtained this apartment for free from the Presidential Administration, where his younger brother Pavel works. This presents a conflict of interest, but no one seems to care.
LCD “House at the Academy of Sciences”
Peter’s younger brother Pavel turned out to be even richer, despite officially having the smallest income. He owns a huge penthouse in the Dominion residential complex, which is worth about 400 million rubles (despite an annual salary of 4.6 million). This means that Pavel Fradkov would have to work for about 100 years just to afford this apartment.
LCD “Dominion”
A 543-meter house in Akinshino was decorated for father-in-law Fradkov Jr. However, Pavel Fradkov lives there regularly with his wife Anna. It's difficult to estimate the cost of a house, but a similar, more modest house in the market costs about 80 million rubles.
Announcement of the sale of a house in Akinshino
Mikhail Fradkov, the father of the family, also has substantial property. He owns a 588-meter three-story apartment in the residential complex “House on Smolenskaya Embankment” and a 300-meter house on Rublyovka.
According to The insider, all the property of the Fradkovs is worth about 2 billion rubles. And that’s just what is known. Remember that none of the family members had their own business. They all worked in government positions. One can only imagine how many billions Fradkov stole from ordinary Russians…
