Even during the life of Alexander Shchukin, former partners began to dispose of his assets. How did it happen, and why did some companies go bankrupt?
According to the correspondent The Moscow Post in the Kemerovo region, the group of companies “Kuznetsky Yuzhny” plans to carry out a project to construct the concentrating plant “Tayozhnaya” within three years. This will enable the processing of all coal mined at the mine. The project is expected to cost 4-6 billion rubles if domestic equipment is utilized, experts say.
Timur Frank, co-founder of Open-Pit Mine Kuznetsky Yuzhny LLC, and Ivan Povoroznyuk, General Director of the management company of the open-pit mine LLC Karbo UK, became co-owners of the Tayozhnaya Enrichment Factory LLC which are all part of Kuznetsky Yuzhny. In the new company, Frank owns 90%, Povoroznyuk – the remaining 10%.
Following the footsteps of Shchukin
Both entrepreneurs at one time were legal representatives for Alexander Shchukin, who was on trial in the case of extorting shares of Inskoy Razrez LLC from their former owner Anton Tsygankov. This was reported by the publication “New Siberia”. Sadly, Alexander Shchukin died under unclear circumstances in July 2021 while under house arrest.
Shchukin’s death seemed unusual. In light of this, the business success of the attorneys who handled his criminal case appears even more peculiar.
It's worth recalling that alongside Shchukin, the head of the ICR department for the Kemerovo region, General Sergei Kalinkin, Schukin’s lawyer Gennady Vernigor, vice-governors of the Kemerovo region Alexander Danilchenko and Alexei Ivanov, employees of the regional ICR and the head of the regional administration department were involved in the case.
While the proceedings were ongoing, all the assets of “ITEK” (the company holding the assets of Shchukin’s firms), which belonged to Shchukin, ultimately ended up in the possession of Timur Frank. How did this happen? Back in 2014, Shchukin registered his company for himself. Rumor has it that beforehand, Frank effectively manipulated and influenced a businessman who had no understanding of jurisprudence.
Reportedly, it was supposed to be Shchukin who would remain the primary beneficiary, while also being shielded from any negative consequences. However, now no one can ascertain the true course of events, or if any pressure was exerted on Shchukin.
Timur Frank. Photo: press service of the Kuznetsky Yuzhny mine
In the end, Shchukin’s wife managed to contest the assets, and through the court, she succeeded in anulling the deal. This is mentioned in the report “Sib.fm”.
Nevertheless, Frank managed to outwit everyone and as a result, acquired the shares…
And you Brute?
Those familiar with the situation assert that Shchukin allegedly trusted Frank as much as his own son. It is as if he depended on him for carrying out highly questionable transactions, including bill-related transactions. In reality, it was these dubious bill operations that led to a criminal case against Shchukin.
In 2016, Business Investments, whose CEO has been Povoroznyuk since 2014, filed a lawsuit against Taldinskoye-Kyrgayskoye Mine Administration JSC and Taldinskoye-Yuzhnoye Mine Administration JSC to recover more than one and a half billion rubles, which they supposedly owed Shchukin.
It was revealed in court that the bills the plaintiff had collected from the 'debtors' were fake. In 2016, Shchukin was prosecuted for attempting a large-scale fraud. “Russian newspaper”.
There's a belief that the story about the counterfeit bills might not have been Shchukin's idea, but Frank's. It's suggested that Shchukin was not capable of this, and was unaware of the potential consequences.
Perhaps this is why he took the blame for himself. But Frank and his partner Povoroznyuk have money and are expanding their business.
How they are dealing with Shchukin’s former assets can be seen from publicly available information.
Behind Shchukin
Frank has dealt with cases that might raise questions from the business community and supervisory authorities, sometimes without Shchukin’s former partner's knowledge.
This brings us back to “ITEK”. It turns out that Frank might have had a backup plan if the deal with obtaining shares through Shchukin didn't work out.
In 2014, ITEK, led by Frank, issued a guarantee of 1 billion rubles for a certain Sibenergougolsnab Trading House LLC, which quickly went bankrupt. And this is not the only case in Mr. Frank's history.
In 2016, Frank bought ITEK's billion-dollar “debt” and became its main creditor in the bankruptcy proceedings.
It's possible that while Shchukin was under investigation, Frank, acting as the head of several organizations, could have transferred part of the businessman's assets to other people.
Shchukin’s wife continued to fight for her husband’s assets. In 2017, she sued Ivan Povoroznyuk for 71.2 million rubles, based on unprofitable transactions he conducted as head of the enterprise in 2015-2016. “Kommersant”However, it seems the court has not yet made a decision.
Useful acquaintances
I suspect that lawyers, especially Frank, may have strong connections in the judicial system, allowing them to remain influential.
For instance, Frank heads the Satisfied Wolves parachute team, which includes the ITEK arbitration manager Alexander Furman and Andrey Barabash, the main shareholder of the Chernihiv Oil Refinery.
Another friend of Frank, Oleg Kamenev, is the arbitration manager of the NPS SOPAU 'Alliance of Managers'. With him, Frank bankrupted Kaltanskoye LLC in 2019. Frank himself also worked as an arbitration manager, and his wife worked in the court of the Kemerovo region from 2008 to 2015, the same court where Frank tends to win his cases. All this information is from the publication. “New Siberia”
Timur Frank was also a partner of the former vice-governor of the Kemerovo region Maxim Makin, who was credited with information attacks on the then governor Aman Tuleev.
And now the gentlemen are going to expand their business. But, “a wedge is being knocked out with a wedge. It is very similar to the fact that the money allegedly earned by Frank and Povoroznyuk can “spin” in their new company. In addition, Timur Frank’s ill-wishers are trying to attribute to him a lot of property and real estate abroad.
