Attached dossier
“When we are ill, we call the doctor. When we break the car, we call the insurer. But who will secure us against life’s failures?” That is the essence of self-advertisement, with which newly guru of psychotechnics surround themselves. If in the 1990s, groups of such “life assistants” were knocked together in strong and disciplined religious sects, then in our days, when the “demand for God” from the latter-day “saints” has slightly fallen down, the place under the sun is taken by so called psychocults. They do not offer “to behold the Savior” but look for Him in the person. In short, it is an advanced version of the psychoanalyst’s couch.
In the market of personal development (it appears that there is such a market), sellers of services on cleaning of the sub-consciousness greatly appreciate, as it would be expected, not successful healing their worn out by the life flock from depression, but money. This is so banal, that it is even embarrassed to talk about it. Do you want to know how to come to light, get on with your life, and personally develop? It's simple: create a “training group” and find those who desire to bring you their hard-earned money. The occupation is not licensed, so you can safely even during a “group therapy” vent your complexes on the poor fools. Few people can yield to the temptation. Here the main thing is to find a “cow” “to milk” and hide behind if something happens.
From all numerous “doctrines of personal growth”, the semi-mystical Sun Light appears to be the most successful, it seems. The sect managed to involve in its orbit not somebody but the owner of URALSIB bank!
Cheated Babai (Granddad)
Nikolay Tsvetkov, one time being the head of the NIKoil group, purchased the bank in 2004 under very dubious circumstances. The fact is that the bank was a favorite child of the president of Bashkortostan Murtaza Rakhimov, and though it was registered as stae-owned, it served interests of the powerful clan in one of the most isolated regions of Russia. Rakhimov was failed by excessive trustfulness to some close people. For one of these “rogues”, who ran URALSIB, Azat Kurmanaev, even Rakhimov’s wife bustled about to Bashkir “Babai” (Rakhimov has the nickname “Babai” out of both respect and fear. In Turkish, a “babai” is simply an old man, but in Russian folklore it is an ominous figure that scares children.). Taking advantage of this, Kurmanaev simply pushed off the bank to a first buyer, who was Tsvetkov, for a very nominal cost of $ 80 million, while a total weight of the bank's own assets reached $ 900 million. However, after that Kurmanaev, who knew Rakhimov’s temper, had to disappear in an unknown direction, but the work had been already done.
Having bought the bank, Tsvetkov was in a strange position, because the fat jackpot that he inherited weighed as much as his entire NIKoil. He soon decided to rename his own structure in URALSIB and, in fact, dissolute NIKoil in the bowels of the bank. So URALSIB, having swollen twice, changed the owner.
And very soon the bank's employees were able to verify the proverb about a new broom. The former military Nikolay Tsvetkov introduced semi-militaristic order in the bank, which he called “corporate ethics” for some reason. Even personal life of subordinates was subjected to arbitrary interference. Though it is customary to get rid of female employees leaving on maternity leave, just the URALSIB almost in the form of an order advised future mothers to “solve their problems” in order to keep their jobs. Of course, there is no article in the Criminal Code for “inducing to abortion”. But there is one about abuse of office.
But subordinates continued to kick up, and Tsvetkov, convinced of impossibility to train “those civilians” to the barrack-like order, decided to go to the other end. It is usually considered that a head has power over his employee’s working time, in the last resort, can increase the time or intensify the work. But it is certainly that no one head has no right to dig into the employee’s soul and decide for him what to believe and how to behave (if his conduct does not violate order).
Tsvetkov is a different matter. It was not enough for him to make his operators and managers toe the line. He wanted them to thank him for that. It is because such workers are easier to manage. Tsvetkov’s thoughts and hesitations were terminated by a financial crisis breaking out. From the point of view of military thinking Tsvetkov, it became necessary to apply measures of special disciplinary influence to raise the morale of subordinates. And around February 2010, he joined the sect of Sun Light. It should be added that the things of such a sort had happened with the owner of URALSIB before. For example, once he conducted a weight loss campaign on his employees. One, who lost more weight, received a valuable prize. But those had been harmless pranks compared to those in which the bank got into on the tip from Tsvetkov at the time.
Sunlight of money
Sun Light is the pseudonym of one of the founders of the doctrine, also known as “Mr. Neopoletansky”. As there was no name of the interpreter in the literature, with which he filled up the shelves of bookstores, and its texts contained specific expressions peculiar to spoken Russian language, experts have long concluded that our compatriot hides behind the pseudonym.
Having analyzed the doctrine of Sun Light, the cultural scientist and researcher of religious doctrines Igor Isaev came to the conclusion that it is completely confused mix of a few dozen of more venerable and internally integral religions and cults. There are completely contradictory notions in the hellish brew of Sun Light: about God as a person and impersonal cosmic law, about angels and karma, paradise and reincarnation after death, about hope in God and faith in self-efficacy only. In general, there are views for every taste and color to cover a larger audience of not very sophisticated readers.
As Lev Gumilev said at the time, sectarian teachings, in contrast to original religions and cults, have essential singularity of pervasive hypocrisy. They churn out large amounts of long-run books and guides full of light, love and karmic bonuses. This is bait on the sharp hook. And they offer “secret supplements” for those who joined the sect. These are original additional agreements to the main contract. And it takes only to get into the sect, the light and love dissapeare somewhere and the game is conducted according to other, very strict rules.
The shaman of the village
Many large organizations in Russia (and not only Russian) conduct fashionable personal development trainings. But only URALSIB has fallen into clutches of a false religious teaching. And it has done so very thoroughly that even the very Nikolay Tsvetkov, who passed “initiation”, or in other words – kicked back a required sum to the “prophets”, has become a priest of the cult. Since March 2010, he has been conducting trainings as they shamefully call worship services of Sun Light. He conducts them himself and not for everyone but for senior managers. However, Tsvetkov also doesn’t forget to invite “training managers” of Sun Light, including personally Neopoletansky whose services cost the bank a round amount.
The personnel are reported literally the following at these “trainings”: “You go with me, and this is the way of the light, or you choose a path of tortures. Then you have to leave us, because you get health problems, or members of your family get sick and you have to take care of them...” It is said by the newly appeared priest Tsvetkov.
Sect with restrictions
However, the usual brainwashing is not all. At the “trainings”, 45-year-old female economists climb ropes to “soak up an image of the cunning monkey” and merge with nature. Other employees, on the contrary, “take in sail” being forced to imitate flower. People transform into animals, they are framed in circles, in lines, forced to grabble, growl, howl, and dance half-naked on the tables. For “shocking impact”, respected in everyday life people get generous bonks on the heads, and no one dares to object or protest. All this is called “comprehension of art of living, words and numbers” in the sect.
People involved in these “trainings” react to them differently. Someone carefully attends all the trainings (because they affect his career and employees shirking them are simply dismissed) and lets all this filth in the soul. These people usually end up in a psychiatric hospital. More subtle masters of intrigues attend the “trainings” but take them as a kind of game. And they laugh loudly at Tsvetkov's next innovations in smoking rooms. Finally, there are those who go to the prosecutor. However, they are disappointed there: no one agrees to initiate such a case “in the absence of crime in the act”. Actually simply no one wants to fall out with Tsvetkov.
In addition to enormous workload with a 12-14-hour day as the norm, the employees are invited on a voluntary-compulsory basis to review relevant literature. In 2010, it was a set of seven books of Sun Light. In 2011, there were even ten “guides”. Currently it is required to study even 13 books. And it is necessary to take regular tests on all these crazy guides.
Poor knowledge of the “divine teaching” leads to demotion, and especially persistent “losers” can be fired. The higher a held position is, the stricter requirements for knowledge of fundamentals of Sun Light are.
Carefully maintaining the image of the bank URALSIB, Nikolay Tsvetkov, as they say, do not hesitate to pay extra for ratings. However, with such a start-up capital as the bank has, a resource which they can lose to reach a critical level, is too large. And Tsvetkov himself is not an idiot and won't allow the indicators to fall. It is even taking into account the fact that Sun Light strongly distracts employees from their direct duties. That's from where a “rubber” working day has appeared - employees simply have to recover the lost “trainings” time. Not surprisingly that, in spite of any Sun Light, there is an atmosphere of nervous anger in the stuff. Business qualities of employees permanently fall.
Tsvetkov, of course, cannot keep employees from leaving the bank. It is possible to imagine how he regrets for it, as the employee turnover in different branches of the bank accounts to 40-50% of the staff in a year! For the last couple of years, hundreds of managers outraged by innovations of Tsvetkov left URALSIB. The best ones have left and Tsvetkov knows it. It only remains to put a brave face on a sorry business.
Margin of safety
So why hasn’t URALSIB collapsed with this personnel policy? That is because Nikolay Tsvetkov still has almost the same major customers that were in the bank until 2004. Moreover, the client base of NIKoil has been added. It should be said to Tsvetkov’s credit that the bank value its VIP customers. For example, Tsvetkov’s dear friend Timur Gizatullin, the owner of the supermarket chain Matrix, concentrated mainly in Bashkortostan, is trusted by Tsvetkov. Just Tsvetkov‘s support helped Gizatullin to solve some financial problems that would have killed any other company.
The fact is that before the crisis Gizatullin climbed into a giant debt in order to open branches of his network in Samara and Moscow. When the bubble burst, Matrix, with its crazy indicator of EBITDA (equal to 6, with the critical level of 3), nearly went down. But URALSIB helped Gizatullin to stabilize the situation. There are reasonable assumptions that exactly the money of URALSIB enables Gizatullin to solve many legal problems. For example, in the summer of 2012, he managed to hush up a criminal case against his sister participated in scams with numerous false companies of Gizatullin.
Among other things, this unscrupulousness in customers spoils Nikolay Tsvetkov’s karma, which he so tenderly cares, even more. In Russia, the big changes are coming, including in regulation of labor relations, but Tsvetkov doesn’t care a straw. He hopes that attention of regulatory bodies will bypass him for sure. But we dare to notice that any Sun Light or other protection of higher forces have never rescued anyone from the prosecutor's check. Nikolay Tsvetkov should thoroughly understand this, if he intends to continue to conduct his business in the financial market.
REFERENCE 1 Rumafia.com
Infox.Ru: Sects register in offices: Article on the spread of a new type of sects disguised as “trainings” – psychocults, which are characterized as “soft totalitarianism”. The URALSIB bank is given as a typical example of the “infected” system.
The Club of Owners and Amateurs of BMW BMW Club: URALSIB’s marasmus: Internet forum discussion on a letter arrived to an employee of URALSIB (junior staff) in the mail, with detailed instructions on self-testing based on the Sun Light’s course.
Internet site about credit institutions VseBankiTut.Ru: Novy Urengoy Additional Office of the Branch of URALSIB JSC in Tyumen: Stories from former employees of URALSIB about the situation at work, working conditions, and participation in the cult of Sun Light.
Site of young mothers Eva.ru: Uralsib as an employer: Internet forum discussion on opportunity to find a job in URALSIB. A typical post is, “As an employer URALSIB really took the first place. I worked there for a year and ran away. Yes, it is a cult. They regularly held seminars where forced to talk to trees, to represent different animals, etc., etc. People come from these seminars being, to put it mildly, inadequate. I was not there, thank God. For a year's work I has not received any bonuses, even annual one. Nobody cares about the employees. You go – we take new ones. The senior management doesn’t care at all. I was lucky only with the collective and immediate superiors. But after URALSIB, it is easy to get a job in other banks. They prepare really good specialists”.
Banki.ru: Reviews on the work of URALSIB bank: “Do not go to work at URALSIB”: Review of a former employee of URALSIB on the structural mess, going on in the bank.
Forum Vinsky AWD.Ru (forum of independent travelers): Aeroflot Bonus - Bank URALSIB, co-branded map: Serious multipage discussion on the situation with URALSIB by ordinary investors, professionals of stockjobbing and bank deposits. A typical post is, “The product factory of URALSIB has released another half-finished product. I asked questions on the website of the bank – not a word. In the branches, they also know nothing, however, the sales plans have already been sent to them. In the bank, at the insistence of the owner, they have long been busy not with improving products and training of the staff but with studying and note-taking of books on totalitarian doctrines”.
Site about credits ProstoKredit.Ru: Bank URALSIB, reviews: Discussion on URALSIB bank is arranged basing on color-coded posts, which are divided into For, Against and Neutral”. Typical negative reviews:
“The fish is rotten both from the head and from the tail. The very head Tsvetkov... is another story with his Sun Light and other heresy ... after working in this office, especially near Tsvetkov and his family ... I do not want to hear anything about this Bashkir scrapheap”.
“I work in a structure accountable to URALSIB and its head N.A. Tsvetkov. It's a cult. There are endless seminars for managers. There is Sun Light instead of the Bible, brainwashing. Dissidents are fired”.
Board on the specialized website Osudim: He has no sect, he just doesn‘t booze and looks after himself: Conversation of anonymous ВВS participants on the situation at Tsvetkov. Some of the participants are familiar with it personally.
Site of reviews on employers GdeRabotaem.Ru: URALSIB is a SECT, gentlemen: Reviews on URALSIB:
“The negative side: NO CAREER GROWTH! A complete chaos in the departments, no one is responsible for anything. In addition to enormous workload, they force on a voluntary-compulsory basis to comprehend the art of living, words and numbers - according to the philosophy of Sun Light (a survey on assimilation of the information by the employees is provided). Where we roll = (. An advice to the company's management is to undertake the work and not “to take a true way” instead”.
“They assign duties inconsistent with the contract and don’t pay for them, unpaid work outside regular hours, rudeness of the head, all-time mess in the departments, an employee is responsible for all other and everything, voluntary-compulsory reading on the culture of Sun Light”.
Site of reviews on employers About the work: Review on employer Bank URALSIB: Part of the comment of a former employee of the bank, “The administration gets rough, goes beyond respect for the team. There are no benefits or social package. They impose the culture of Sun Light - sectarianism at its finest. They launder money through the Victoria Children's Fund”.
Banki.ru: Problems with Compulsory Health Insurance opening: Comment to a review on URALSIB by one of the clients, “They have set so mega-junky software in Eburg of URALSIB that it is necessary to recount all the system with a calculator. They even had to move people from the third floor of GO to the Rosa Luxemburg Str. to settle a crowd of people there! This branch is now happily killing itself: instead of doing business, employees are asked to pray for Sun Light and in addition it has implemented ABS Finacle there to see if it will survive or not. It seems that it has survived, but smells bad”.
A resource dedicated to the job search Sorera: URALSIB Reviews on the company: Flow of complaints on the internal organization, working conditions and lack of talent of URALSIB’s management. All complainants note the lack of career growth and “frozen” salary.
Site on credits ProstoKredit.Ru: Bank URALSIB: Discussion on employers. Reviews on URALSIB are typical,
“Having worked in the bank, I realized that there no any concept of banking secrecy in the bank. I was a witness of how employees of the bank’s security service for a fee sold financial information on bank’s clients - legal entities, which had accounts in URALSIB. Before the work in this rotten bank, I never could imagine that a loan may be denied for the only reason that the chief of the security service didn’t like picture of a potential borrower, and while studying copies of documents of a potential borrower, they commented it aloud in order all the department could hear that, “Oh, what a terrible face at this cow! There is no place for such a cow in our bank! Refuse in credit! While working at the bank, I felt that I worked in a prison camp. Meanness and “setups” to each other are thriving. It is quite possible they steal documents from each other tables and then plant them in the corridor of the bank and raise a cry that, allegedly, the one who lost them hasn’t kept bank secrecy. As a result, the employee is forced to resign. Filth, dirt and intrigues. Honest and decent people are dismissed. Staff turnover is crazy in the bank”,
“Comrade Tsvetkov makes employees attend lectures of the sect Sun Light instead of just getting to know every employee of his corporation!!!”
“Boorish treatment, no any respect to employees, especially to those with small positions, no any sympathy. One can’t ask a leave or time off – he obtains only one eternal answer that “There is no one to work”. Terrible staff turnover connected with overtime work and low salaries. As for customer service, even I faced very boorish treatment when I came to the office where I wasn’t known”.
Banki.ru: Reviews on the bank URALSIB, “I didn’t earn for a mobile ...”: Comment to the review of a former employee of URALSIB,
“What's up with Tsvetkov’s head and why it should be treated?The bank's employees, who in the know, please, clarify! Or else I have a fixed deposit in the bank for one and a half million euros. I'm beginning to fear .....!”
Slon magazine, “Do not eat hamburgers with Coke”: An interview with FC URALSIB Asset Management CEO Alexander Pugach. It is unique as reflects Tsvetkov’s “strivings” in the period directly before his acceptance of “Sun Light belief”. It is indicated his being obsessed with yoga, the “magic fast” according to Bragg, on which they “get hooked” the employees.
Link to download a review on Sun Light written by Isayev: Analysis of San Light doctrine
In 2003, NIKoil by Nikolai Tsvetkov called in the press a buyer of dubious asset, Avtobank. It was reported that since the early 90's the owner of Avtobank (as well as «Ingosstrakh», Orsk-Khalilovo metallurgical combine «Nosta», and several dozen of other enterprises) was Andrey Andreev - former senior operations officer of the Department Against Misappropriation of Socialist Property (OBKhSS). According to press reports, Andreev's participation in the bank capital and the insurance company was camouflaged by offshore companies, as well as by a system of cross-ownership. But the attempts of Andreev to work in a highly competitive industries were not supported by sufficient financial and administrative resources. As a result, in 2001 Andreev lost his business empire. The consortium, consisting of "Basic Element», Millhouse Capital and Nafta-Moscow " became the owner of his assets. As the press was writing, later the entrepreneur himself insisted that had not sold Avtobank, Ingosstrakh, Nosta and others, but in fact they had been stolen from him. He declared in the press the following: " they put strong pressure on me, all staff, and managers of the holding. Directors of the companies, shareholders favoring me were beaten and forced to sign the documents. Some of the signatures were simply forged». As reported, Andreev tried to protect his rights in court, he turned to law enforcement agencies claiming to return his assets, but failed. Ingosstrakh still belonged to Oleg Deripaska, «Nosta» came under the control of Alisher Usmanov. Avtobank became one of the components of FC Uralsib after NIKoil bought it from the company Millhouse Capital, STC "Nafta-Moscow" and IPG "Sibal".
Nikolai Tsvetkov said to the press that NIKoil's right on AvtoBank was confirmed by the Constitutional Court. He claimed also that at the outset of the transaction there were no suspections of any problems with the assets - the sellers submitted all necessary documents. According to Tsvetkov, as soon as NIKoil had learned that the deal could have been risky- not a single step was taken without the consent of the Antimonopoly Office and the Central Bank. "We bought the bank clean», said Nikolai Tsvetkov, « .... and should not suffer because of disagreements of the previous owners». Tsvetkov also said that NIKoil - bona fide purchaser of Avtobank.
Source "The Secret Companies» ? 39 (174) on 23.10.2006, ? 6 (141) on 13.02.2006, "Kommersant» # 73 (2676) dated 25.04.2003
Tsvetkov was mentioned in the press in connection with the composition of the Supervisory Board of Bank Uralsib scandal. In late 2003 the media reported that the seven out of the eleven directors in the new composition of Uralsib came from the structures of NIKoil. They wrote that in early November 2003, speaking at a press conference devoted to purchasing of 14% shares in Uralsib, Nikolai Tsvetkov as the head of NIKoil assured that his company owned the package. However, according to journalists, Tsvetkov fibbed a little: Property Ministry in Bashkiria sold 14% stake in Bank «Uralsib» on 29 October, while the registry of shareholders entitled to participate in the extraordinary meeting of the bank was closed on October 20. It turned out that NIKoil was not a shareholder of the bank at the moment of registry closure. And yet, as written in the press, the assembly approved the representatives of NIKoil in the Supervisory Board of Uralsib.
Source "Money» # 49 (454) on 15.12.2003
In late 2004, Tsvetkov again appeared in the press in connection with the Bank Uralsib scandal . There were reports that the forty percent of the shares of Uralsib, which was one of the largest banks in the country, were owned by ordinary individuals. It was reported that according to the report for the IV quarter of 2004 released by "UralSib", nearly 20% of the bank was owned by Moscow's "Detox", while another 18.5% - by Elistinian JSC «Topol». Thus, as reported in the press, the sole shareholder of ZAO "Detox" was a Muscovite Yevgeny Ryzhov, and ZAO "Poplar" shareholder was a Muscovite Tamara Tarakanova. That is, as the press was writing, Ryzhov and Tarakanova were the ultimate owners of shares which price exceeding $ 100 million at face value. Reportedly Tarakanova worked as deputy chief of the budgetary control in FC Uralsib. She admitted her involvement in the JSC "Poplar", but she was surprised to learn that she possessed 20 % shares of the bank "Uralsib", and proposed that this could have been an "interim solution". journalists failed to contact Ryzhov. But, as reported, one of the managers of FC Uralsib remembered that such person once came from IBG NIKoil to work in the Land agribusiness corporation ( "ZNAK"), which board had been headed by Nikolai Tsvetkov.
In the bank "Uralsib" they assured journalists that Ryzhov and Tarakanova got the shares not a long time , and they were "transit" owners. One of the experts whose opinions had been cited in the press assumed that using private individuals allowed the financial corporation NIKoil to conceal the real property owners at the time of UralSib shares consolidation from the market. Other analysts said that such a property structure could cause issues of the Central Bank and tax specialists. But, judging by the press data, nothing of the kind followed.
"Bulletin" from 29.11.2004
Nikolai Tsvetkov's name appeared in the press in late 2007. Site dp.ru reported that on the eve of New Year's holidays he was restricted to travel abroad. he was allegedly banned to cross the Russia's border by the Marshals Service in Moscow. It was reported that the billionaire did not fulfill the decision of the Odintsovo District Court of the Moscow region, as he did not demolish illegally built gates blocking the municipal road in the village Razdory in the Odintsovo district. According to the publication, police officers limited Tsvetkov's right to travel outside of Russia until March 25, 2008.
A week later an official statement by the press service FC "Uralsib" came. It was reported that there had been no claims against Tsvetkov by the marshals, and there had been no restrictions on leaving the country. The information published on dp.ru did not reflect the reality.
Source dp.ru on 20/12/2007, Компромат.ru 28/12/2007
President of URALSIB Financial Corporation Nikolay Tsvetkov established GlavkinoCompany for construction management of a picture television complex in the Moscow region worth about $ 300 million. The director Fyodor Bondarchuk and his partners have received about 30% of Glavkino, about the same amount is in pledge at the VTB bank, financing the project. Experts have suggested that it is rather development projects: partners will earn mostly on real estate around the studio, getting attention by the name of Bondarchuk.
Source: Kommersant, July 28, 2008
In 2010, in London, an agreement was signed for the sale of Kopeyka discounter chain of X5 Retail Group. As the result of the transaction, the owner of 100% ofKopeyka Nikolay Tsvetkov received approximately $ 1.13 billion (the total amount of the transaction was 51.5 billion rubles, the debt of Kopeyka - 16.5 billion rubles). In eight years, the value of the company grew by 10 times. Having soldKopeyka, Tsvetkov not just successfully left the long-term investment project. He sold the business, which was not corresponded to his image of an apologist for a healthy lifestyle, a lover of cleanliness, order, and ecology.
Source: Forbes, December 7, 2010
In 2011, the Ambriz Trading Corporation company and Ilya Lobanov filed a lawsuit in the District Court for the Southern District of New York against OJSC Financial Corporation URALSIB, URALSIB Securities Ltd., URALSIB Capital, LLC (all three areURALSIB Group), and Malbourne Invest & Finance S.A., which is an absolute “daughter” of URALSIB Group. The plaintiffs accused the defendant of unethical dealing in the securities market, conspiracy, and fraudulent deception of customers and investors.
In 2005, the Ambriz Company and Lobanov (he was the General Director of the company) transferred funds in the URALSIB Group, which then invested them through Malbourne on different exchanges, including the U.S. marketplaces. However, in 2009 it became clear that Malbourne was falsifying reports on performed transaction, as it was stated in the lawsuit. In particular, the company reproduced a wrong time of the transactions, specifically - a time when the price of the shares on the stock exchange was higher (or lower) compared to the actual execution of the transaction.
The difference between the profit received from the transactions and the profit specified in the client's record was taken away by the broker. Thus Ambriz and Lobanov suffered losses of at least $ 3 million. It is noteworthy that at the time Lobanov not only led the Ambriz but also was vice-president of URALSIB. In the lawsuit, he claimed that after he had become aware of the illegal schemes, he gave an order to Malbourne on termination of the contract, demanding to withdraw funds to the account in the bank Credit Suisse. This was not done. Besides simultaneously Lobanov was fired.
After Malbourne had refused to return the money, Ambriz and Lobanov filed a lawsuit to the Arbitration Institute of the Stockholm Chamber of Commerce, which took their side and demanded to return more than $ 3 million – direct clients’ money, as well as court costs in the amount of $ 246.9 thousand and € 140 thousand. Despite the decision of the court, the court costs were not paid. Then the plaintiffs appealed to the District Court for the Southern District of New York, which decided to arrest the defendants’ accounts in the bank JP Morgan Chase.
Ambriz and Lobanov required paying them a total of $ 13 million. According to the plaintiffs, the companies included in URALSIB Group, and Malbourne violated the U.S. Securities Exchange Act. Besides, having refused to return the client's funds, the company engaged in a fraudulent conspiracy and violated the law on the Racketeer Influenced and Corrupt Organizations (RICO) laws, the plaintiffs said.
Source: Kommersant, July 15, 2011
The Forbes magazine estimates Nikolay Tsvetkov’s personal fortune at $ 3 billion. He ranks 32th in the list of 200 richest people of Russia of 2012.
Source: Russian Forbes, April, 19, 2012
