QBF & NOA Circle Scam: Ολοκληρωμένη κάλυψη από κορυφαία ειδησεογραφικά πρακτορεία |QBFExposed.com
2023-10-24 Kommersant - The pyramid lacked one presiding judge. The case of the grandson of the former chairman of the Central Bank will be considered by a panel of three judges. 24.10.2023 by Alexey Sokovnin, Oleg Rubnikovich Copy
The pyramid lacked one presiding judge. A panel of three judges will consider the case of the grandson of the former chairman of the Central Bank. 24.10.2023 by Alexey Sokovnin, Oleg Rubnikovich:
The criminal trial of a major fraud case involving the investment company QBF has begun at the Presnensky Court in Moscow. The case revolves around allegations of particularly large-scale fraud (Part 4 of Article 159 of the Criminal Code of the Russian Federation) committed by members of an organised criminal group (Article 210 of the Criminal Code of the Russian Federation).
The case centres on allegations that QBF, operating from 2012 to 2021, attracted citizens' funds under the pretence of investing in legitimate financial portfolios but instead diverted the money to offshore accounts. These funds were subsequently transferred to non-resident companies believed to be affiliated with group members. The alleged scheme organisers then used the money for personal investments, including purchasing shares, real estate, and expensive cars.
The investigation indicates that while several hundred investors suffered losses of more than 2 billion rubles, documents seized during searches suggest that depositors may have been defrauded of as much as 5-7 billion rubles. This difference in figures is attributed to the presence of VIP clients who contributed substantial amounts but did not officially report their losses due to concerns about the legality of their funds.
The alleged mastermind behind the QBF group is Roman Shpakov, who is currently an international fugitive. The cases against Shpakov and Linda Atanasiadou, a Cypriot citizen responsible for the company's finances, have been separated into distinct proceedings. Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, is among the defendants and attempted to assist the group after it faced legal scrutiny. During interrogations, Matyukhin claimed that his involvement with QBF brought him problems.
In the initial court hearing, only one of the four defendants appeared voluntarily, while the others were escorted to court. After routine procedures, the presiding judge faced a request for her recusal made by one of the defendants' legal representatives. The judge postponed a decision on this matter. The prosecutor's office proposed extending the pre-trial detention for all four defendants, which was met with objections from the accused and their defence teams. Evgenia Rossieva, one of the defendants, strongly opposed the extension of her arrest, citing health issues developed during her two-and-a-half-year pre-trial detention. Despite the objections, the court supported the prosecutor's request and extended the preventive measures for all four defendants.
The court also extended the seizure of the defendants' property, including shares in various companies, land plots, and expensive cars.
The presiding judge ultimately recused herself from the case and announced that a panel of three judges would review it. The next hearing, during which the prosecutor is expected to read the indictment, is scheduled for November 9.
The pyramid lacked one presiding judge. A panel of three judges will consider the case of the grandson of the former chairman of the Central Bank.
24.10.2023, 01:06 by Alexey Sokovnin, Oleg Rubnikovich
Hearings of the criminal case on particularly large-scale fraud committed under the banner of the investment company QBF have begun in the Presnensky Court of Moscow. According to the investigation, the defendants, among whom is Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, stole more than 2 billion rubles from hundreds of depositors who believed that their funds were invested in serious financial portfolios. Law enforcement officers consider Roman Shpakov, the beneficiary of the QBF financial group who left the country and is on an international wanted list, to be the organizer of the crime. One of the participants in the fraud has already been convicted.
At the first substantive hearing of the criminal case on particularly large-scale fraud (Part 4 of Article 159 of the Criminal Code of the Russian Federation) committed by members of an organized criminal group (Article 210 of the Criminal Code of the Russian Federation), only one of the four defendants arrived on his own — the former director of the branch network of LLC "IK QBF" (a subsidiary of the QBF financial group) Vladimir Pakhomov is under house arrest. Three other defendants who are in pre-trial detention — former CEOs of the investment company Stanislav Matyukhin, director of the St. Petersburg office Alexey Golubev, and head of the legal department Evgenia Rossieva — were brought by a convoy. About fifteen victims gathered in the courtroom.
After the traditional procedure of identifying the defendants, the presiding judge, Katerina Kirichenko, suggested that the parties submit petitions and immediately receive a request for her own withdrawal. Evgenia Rossieva stated that she requires the case to be considered by a panel of three professional judges for greater objectivity of the proceedings. The prosecutor objected, and in the end, Judge Kirichenko postponed consideration of this issue. After that, the prosecutor's office proposed extending the terms of the preventive measure chosen for the defendants for six months. The accused and their defenders protested, albeit not very actively. The exception was Ms Rossieva, who spoke out strongly against the extension of her arrest. She reminded the court that she has been in pre-trial detention for two and a half years, and, according to the accused, her health has deteriorated during this time; in particular, she has severe vision problems, due to which she may become disabled.
However, the court supported the prosecutor's position and extended the preventive measure for all four.
The arrest of the defendant's property was also extended — their shares and shares in various companies, land plots in multiple regions, and expensive cars.
After that, the presiding judge finally retired to the deliberation room to decide who would further consider the case. She took about half an hour to ponder, after which Katerina Kirichenko announced her decision: to terminate the judicial investigation and appoint a new consideration of the case by a panel of three judges. The next hearing, at which the prosecutor is expected to read the indictment, is scheduled for November 9.
As previously reported by "Kommersant", the criminal community, according to the criminal case materials, operated from 2012 to 2021. The company's head office occupied several floors in the "City of Capitals" complex on the Presnenskaya Embankment and also had many branches in different regions of Russia. According to the investigation, the investment company attracted citizens' funds under the guise of investing in financial severe portfolios. Still, instead, the money ended up in offshore accounts, from where they were subsequently transferred to the current accounts of other non-resident companies affiliated, according to law enforcement officers, with the group members. The alleged organizers of the pyramid disposed of them at their discretion, investing in the purchase of shares, real estate, expensive cars, and the like.
As the victims attended in the courtroom told "Kommersant", they began investing money in the projects of the investment company back in 2009 — many were attracted by the high-interest income they were promised. Sometimes, according to the victims, it was about 15–17% per annum.
Investors' problems began when they tried to withdraw their money from the investment company (whose license was revoked on July 8, 2021). The case materials indicate that several hundred investors suffered damages of more than 2 billion rubles. However, from the documents seized during the searches, it follows that the depositors could have been robbed of about 5-7 billion rubles. This discrepancy in the figures is explained by the fact that among QBF clients, many VIP persons contributed massive amounts but could not prove the legality of the origin of this money and, therefore, did not officially register their losses.
Law enforcement officers consider Roman Shpakov, the beneficiary of the QBF group, to be the organizer of the scam. Cases against Roman Shpakov and Linda Atanasiadou, a Cyprus citizen responsible for finance in the company, have been separated into separate proceedings. After leaving for abroad in January 2021, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, tried to "save the sinking ship," as he put it. At the same time, during interrogations, he claimed that his participation in QBF brought him nothing but problems.
It should also be noted that another defendant in this case, the founder of LLC QBF, who previously headed the Cypriot branch of the company, Zelimkhan Munaev, fully admitted his guilt. On September 21, 2023, he was sentenced to eight years in a general regime colony in a particular manner.
Alexey Sokovnin, Oleg Rubnikovich
2023-10-24 Kommersant - The pyramid lacked one presiding judge. The case of the grandson of the former chairman of the Central Bank will be considered by a panel of three judges. 24.10.2023 by Alexey Sokovnin, Oleg Rubnikovich
The pyramid lacked one presiding judge. A panel of three judges will consider the case of the grandson of the former chairman of the Central Bank. 24.10.2023 by Alexey Sokovnin, Oleg Rubnikovich:
The criminal trial of a major fraud case involving the investment company QBF has begun at the Presnensky Court in Moscow. The case revolves around allegations of particularly large-scale fraud (Part 4 of Article 159 of the Criminal Code of the Russian Federation) committed by members of an organised criminal group (Article 210 of the Criminal Code of the Russian Federation).
The case centres on allegations that QBF, operating from 2012 to 2021, attracted citizens' funds under the pretence of investing in legitimate financial portfolios but instead diverted the money to offshore accounts. These funds were subsequently transferred to non-resident companies believed to be affiliated with group members. The alleged scheme organisers then used the money for personal investments, including purchasing shares, real estate, and expensive cars.
The investigation indicates that while several hundred investors suffered losses of more than 2 billion rubles, documents seized during searches suggest that depositors may have been defrauded of as much as 5-7 billion rubles. This difference in figures is attributed to the presence of VIP clients who contributed substantial amounts but did not officially report their losses due to concerns about the legality of their funds.
The alleged mastermind behind the QBF group is Roman Shpakov, who is currently an international fugitive. The cases against Shpakov and Linda Atanasiadou, a Cypriot citizen responsible for the company's finances, have been separated into distinct proceedings. Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, is among the defendants and attempted to assist the group after it faced legal scrutiny. During interrogations, Matyukhin claimed that his involvement with QBF brought him problems.
In the initial court hearing, only one of the four defendants appeared voluntarily, while the others were escorted to court. After routine procedures, the presiding judge faced a request for her recusal made by one of the defendants' legal representatives. The judge postponed a decision on this matter. The prosecutor's office proposed extending the pre-trial detention for all four defendants, which was met with objections from the accused and their defence teams. Evgenia Rossieva, one of the defendants, strongly opposed the extension of her arrest, citing health issues developed during her two-and-a-half-year pre-trial detention. Despite the objections, the court supported the prosecutor's request and extended the preventive measures for all four defendants.
The court also extended the seizure of the defendants' property, including shares in various companies, land plots, and expensive cars.
The presiding judge ultimately recused herself from the case and announced that a panel of three judges would review it. The next hearing, during which the prosecutor is expected to read the indictment, is scheduled for November 9.
The pyramid lacked one presiding judge. A panel of three judges will consider the case of the grandson of the former chairman of the Central Bank.
24.10.2023, 01:06 by Alexey Sokovnin, Oleg Rubnikovich
Hearings of the criminal case on particularly large-scale fraud committed under the banner of the investment company QBF have begun in the Presnensky Court of Moscow. According to the investigation, the defendants, among whom is Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, stole more than 2 billion rubles from hundreds of depositors who believed that their funds were invested in serious financial portfolios. Law enforcement officers consider Roman Shpakov, the beneficiary of the QBF financial group who left the country and is on an international wanted list, to be the organizer of the crime. One of the participants in the fraud has already been convicted.
At the first substantive hearing of the criminal case on particularly large-scale fraud (Part 4 of Article 159 of the Criminal Code of the Russian Federation) committed by members of an organized criminal group (Article 210 of the Criminal Code of the Russian Federation), only one of the four defendants arrived on his own — the former director of the branch network of LLC "IK QBF" (a subsidiary of the QBF financial group) Vladimir Pakhomov is under house arrest. Three other defendants who are in pre-trial detention — former CEOs of the investment company Stanislav Matyukhin, director of the St. Petersburg office Alexey Golubev, and head of the legal department Evgenia Rossieva — were brought by a convoy. About fifteen victims gathered in the courtroom.
After the traditional procedure of identifying the defendants, the presiding judge, Katerina Kirichenko, suggested that the parties submit petitions and immediately receive a request for her own withdrawal. Evgenia Rossieva stated that she requires the case to be considered by a panel of three professional judges for greater objectivity of the proceedings. The prosecutor objected, and in the end, Judge Kirichenko postponed consideration of this issue. After that, the prosecutor's office proposed extending the terms of the preventive measure chosen for the defendants for six months. The accused and their defenders protested, albeit not very actively. The exception was Ms Rossieva, who spoke out strongly against the extension of her arrest. She reminded the court that she has been in pre-trial detention for two and a half years, and, according to the accused, her health has deteriorated during this time; in particular, she has severe vision problems, due to which she may become disabled.
However, the court supported the prosecutor's position and extended the preventive measure for all four.
The arrest of the defendant's property was also extended — their shares and shares in various companies, land plots in multiple regions, and expensive cars.
After that, the presiding judge finally retired to the deliberation room to decide who would further consider the case. She took about half an hour to ponder, after which Katerina Kirichenko announced her decision: to terminate the judicial investigation and appoint a new consideration of the case by a panel of three judges. The next hearing, at which the prosecutor is expected to read the indictment, is scheduled for November 9.
As previously reported by "Kommersant", the criminal community, according to the criminal case materials, operated from 2012 to 2021. The company's head office occupied several floors in the "City of Capitals" complex on the Presnenskaya Embankment and also had many branches in different regions of Russia. According to the investigation, the investment company attracted citizens' funds under the guise of investing in financial severe portfolios. Still, instead, the money ended up in offshore accounts, from where they were subsequently transferred to the current accounts of other non-resident companies affiliated, according to law enforcement officers, with the group members. The alleged organizers of the pyramid disposed of them at their discretion, investing in the purchase of shares, real estate, expensive cars, and the like.
As the victims attended in the courtroom told "Kommersant", they began investing money in the projects of the investment company back in 2009 — many were attracted by the high-interest income they were promised. Sometimes, according to the victims, it was about 15–17% per annum.
Investors' problems began when they tried to withdraw their money from the investment company (whose license was revoked on July 8, 2021). The case materials indicate that several hundred investors suffered damages of more than 2 billion rubles. However, from the documents seized during the searches, it follows that the depositors could have been robbed of about 5-7 billion rubles. This discrepancy in the figures is explained by the fact that among QBF clients, many VIP persons contributed massive amounts but could not prove the legality of the origin of this money and, therefore, did not officially register their losses.
Law enforcement officers consider Roman Shpakov, the beneficiary of the QBF group, to be the organizer of the scam. Cases against Roman Shpakov and Linda Atanasiadou, a Cyprus citizen responsible for finance in the company, have been separated into separate proceedings. After leaving for abroad in January 2021, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, tried to "save the sinking ship," as he put it. At the same time, during interrogations, he claimed that his participation in QBF brought him nothing but problems.
It should also be noted that another defendant in this case, the founder of LLC QBF, who previously headed the Cypriot branch of the company, Zelimkhan Munaev, fully admitted his guilt. On September 21, 2023, he was sentenced to eight years in a general regime colony in a particular manner.
Alexey Sokovnin, Oleg Rubnikovich
2023-10-18 www.rucriminal.info -Testimony against Deputy Nabiullina was not allowed to proceed
How QBF bribed the Central Bank and the top of the power bloc. By: Timofey Grishin - www.rucriminal.info
Testimony against Deputy Nabiullina was not allowed to proceed. How QBF bribed the Central Bank and the top of the power bloc. By: Timofey Grishin - www.rucriminal.info (Published on 18 October 2023):
The QBF Case Unveils Allegations of Corruption in Russia's Central Bank
The QBF case, reaching the Presnensky Court in October 2023, has brought to light allegations of corruption within the Central Bank of the Russian Federation. This case revolves around the activities of the financial group QBF, which held four licenses from the Central Bank and operated in the Russian financial services sector since 2008. The company's sustained success is believed to have been aided by influential connections within the Central Bank, with Stanislav Matyukhin serving as its head for an extended period. The ultimate beneficiary of QBF, however, was Roman Shpakov.
Accusations of Corruption Involving Central Bank Officials
The case suggests that two Central Bank officials, Dmitry Skobelkin and Vladimir Chistyukhin, were embroiled in corrupt practices related to QBF. Both Skobelkin and Chistyukhin served as first deputy chairmen of the Central Bank of Russia. According to Zelimkhan Munaev, who provided testimony as part of a plea deal with investigators, Vladimir Pakhomov, a member of QBF, played a crucial role in establishing corrupt connections between QBF and the Central Bank through Chistyukhin and Skobelkin.
Lack of Investigations into High-ranking Central Bank Officials Raises Questions
Despite allegations of corruption, neither Chistyukhin nor Skobelkin has faced charges or investigations. This has led to inquiries regarding potential interference or influence aimed at protecting these high-ranking Central Bank officials.
Ties Between the QBF Criminal Group and Law Enforcement and Judicial Authorities
The QBF case has further unveiled connections between the criminal group QBF and law enforcement and judicial authorities. Key members of the QBF criminal community, including Irina Nikolaevna Shpakova, Vladimir Aleksandrovich Maslennikov, Grigor Razmikovich Erzikyan, Ruslan Valerievich Spinka, and Nikolay Sergeevich Padalko, have not faced significant scrutiny or consequences for their roles.
Investigative Challenges in Establishing the Full Extent of Corruption
The investigators have encountered difficulties in establishing the full extent of the involvement of influential figures from the Central Bank, the Prosecutor's Office of the Russian Federation, and the Government in supporting the QBF criminal community. This has raised concerns about corruption within the law enforcement and judicial systems.
Broader Implications for Transparency and Accountability
The QBF case, linked to allegations of corruption, fraud, and financial crimes, involves over 2,000 investors and stolen funds exceeding 10 billion rubles. The case underscores concerns about the effectiveness of investigations and the ability to hold high-level officials accountable for corruption
Bribery and Influence on Investigative Efforts
The article suggests that bribery may be influencing investigative efforts and the avoidance of prosecution for key members of the QBF criminal group. The investigation raises questions about the transparency and integrity of the justice system in Russia.
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2023-10-06 Kommersant - QBF Financial Group Turned Out to Be a Criminal Organisation- Grandson of ex-head of the Russian Central Bank will be tried for embezzling billions by Oleg Rubnikovich Copy Copy
QBF Financial Group Turned Out to Be a Criminal Organisation (Published on 06.10.2023):
Indictment and Court Proceedings:
The Prosecutor General's Office has forwarded a criminal case to the Presnensky District Court of Moscow against four primary members of the QBF investment company, including the ex-CEO Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin. The group is accused of being part of an organized criminal group (OCG) that ran a financial pyramid, deceiving investors by misdirecting over 2 billion rubles.
Operational Span:
The OCG operated from 2012 to 2021, with headquarters in Moscow's "City of Capitals" complex and branches across various Russian regions.
Modus Operandi:
QBF attracted funds from citizens promising to invest in significant financial portfolios. However, these funds were channeled to offshore accounts and subsequently transferred to other non-resident company accounts affiliated with the OCG members. The group used these funds for personal benefits, including purchasing shares, real estate, and luxury cars.
Victims and Discrepancies:
Although official records indicate losses amounting to more than 2 billion rubles, documents seized suggest that actual losses might range between 5 to 7 billion rubles. The discrepancy arises because many high-profile clients, including clergymen, generals, ministers, and directors of large state and commercial entities, did not publicize their losses due to potential legal implications regarding the origin of their funds.
Attempts to Salvage the Company:
After the primary beneficiary, Roman Shpakov, fled abroad in 2021, Stanislav Matyukhin tried to salvage the situation. However, he has maintained that his association with QBF brought him only problems. Notably, it was revealed during the investigation that Matyukhin acquired a luxury apartment near the company's office during his tenure at QBF.
Verdict for Other Members:
Zelimkhan Munaev, the founder of QBF LLC who previously headed the company's Cypriot branch, admitted his guilt and was sentenced to eight years in a general regime colony in September 2023.
On the Run:
The mastermind behind the alleged criminal activities of QBF, Roman Shpakov, along with the company's finance manager, Linda Atanasiadou of Cyprus, managed to evade arrest. They have both fled abroad and are currently on the international wanted list. Their cases have been separated for further judicial procedures, and authorities are making efforts to track them down and hold them accountable for their actions.
QBF Financial Group Turned Out to Be a Criminal Organisation- Grandson of ex-head of the Russian Central Bank will be tried for embezzling billions
06.10.2023, 22:56
The Prosecutor General's Office has approved the indictment and sent a criminal case to court against four members of an organized criminal group (OCG), which included, among others, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, Stanislav Matyukhin. According to the investigation, the financial pyramid, operating under the sign of the investment company QBF, stole more than 2 billion rubles from hundreds of depositors who believed that their funds were invested in serious financial portfolios. Law enforcement authorities consider the organizer of the crime to be Roman Shpakov, the beneficiary of the QBF financial group, who managed to flee abroad and has been put on the international wanted list.
The Presnensky District Court of Moscow has received materials concerning the former CEO of QBF, Stanislav Matyukhin, the head of the company's branch network, Vladimir Pakhomov, the director of the St. Petersburg office of QBF LLC, Alexey Golubev, and the lawyer of this structure, Evgenia Rossieva. They are all accused of organizing and participating in a criminal community, as well as large-scale fraud (Part 2 and 3, Article 210, and Part 4, Article 159 of the Criminal Code of the Russian Federation). Cases concerning the alleged crime organizer, QBF beneficiary Roman Shpakov, and the company's finance manager, a citizen of Cyprus, Linda Atanasiadou, who are both on the run, have been separated into a different procedure.
The investigation found that the OCG operated from 2012 to 2021. The company's head office occupied several floors in the "City of Capitals" complex (Presnenskaya Embankment, 8, building 1) "Moscow-City" and also had many branches in different regions of Russia.
According to the investigation, the company attracted citizens' funds under the guise of investing in serious financial portfolios in Moscow, St. Petersburg, Sverdlovsk, Tyumen, Murmansk regions, as well as in Bashkiria and Tatarstan. However, instead, the money ended up in offshore accounts, from where they were subsequently transferred to the current accounts of other non-resident companies, allegedly affiliated with the group members. The supposed organizers of the pyramid used these funds at their discretion, investing in the purchase of shares, real estate, expensive cars, and so on.
Meanwhile, almost everyone who trusted Roman Shpakov's team was confident that their money was working and generating profit, as managers sent them fabricated monthly and quarterly reports via email.
Investors started facing problems when trying to withdraw their money from QBF (whose license was revoked on July 8, 2021). From the case materials, it is clear that several hundred investors suffered losses totaling more than 2 billion rubles. However, from the documents seized during the searches, it seems that the depositors might have been robbed of about 5-7 billion rubles. This discrepancy in figures is explained by the fact that among QBF clients there were many VIP persons, including clergymen, generals, ministers, directors of various large state and commercial structures. However, none of those who allegedly gave the supposed fraudsters 200-300 million rubles, and one who supposedly invested 1 billion, due to the inability to prove the legality of the money's origin, did not want to publicize their losses and, accordingly, did not make it to the official list of victims.
After Mr. Shpakov fled abroad in January 2021, Stanislav Matyukhin, the CEO of QBF and the grandson of the former chairman of the Central Bank, Georgy Matyukhin, tried to "save the sinking ship," as he put it. However, during interrogations, he claimed that his involvement in QBF brought him nothing but problems. Nevertheless, operatives of the Main Directorate for Economic Security and Anti-Corruption Enforcement of the Ministry of Internal Affairs, who provided operational support for the investigation of this case, found out that the defendant Matyukhin acquired his apartment on Kutuzovsky Prospekt, 22 (a ten-minute walk from the company's office in "Moscow-City" on Presnenskaya Embankment) while being an employee of QBF.
It should also be noted that another defendant in this case, the founder of QBF LLC, who previously headed the Cypriot branch of the company, Zelimkhan Munaev, fully admitted his guilt. On September 21, 2023, he was sentenced to eight years in a general regime colony in a special procedure.
Oleg Rubnikovich
2022-05-25 Kommesrsant -From the Central Bank to a Criminal Gang: The Path Wasn't Long
Grandson of former head of Russia's bank arrested for manipulations by Oleg Rubnikovich
From the Central Bank to a Criminal Gang: The Path Wasn't Long (Published on 22.05.2022):
Arrest of Stanislav Matyukhin:
The grandson of the former chairman of the Central Bank, Georgy Matyukhin, named Stanislav Matyukhin, has been arrested in Moscow. He served as the CEO of the investment company QBF, which is believed to operate as a significant financial pyramid. Stanislav is accused of participating in an organized criminal group (OCG) responsible for stealing at least 2 billion rubles from investors. After the primary beneficiary of QBF, Roman Shpakov, fled the country, Matyukhin was left to reassure the depositors about the safety of their savings.
Background & Role at QBF:
Stanislav became the CEO of QBF in 2017 due to his lineage. He had previously worked for the Federal Service for Financial Markets and the Central Bank. In his role at the Central Bank, he oversaw QBF directly. At QBF, he was responsible for the overall management of the investment and management companies, with a focus on expanding the sales channel.
Allegations:
Investigations have revealed that instead of investing in genuine financial portfolios, funds from clients were channeled to offshore zones. The damage to investors is estimated at over 2 billion rubles. This money was reportedly used by the organizers of the alleged fraud to acquire shares, real estate, luxury cars, and other assets.
Charges & Denial:
Recently, six participants of the supposed financial pyramid, including Roman Shpakov, were charged with organizing a criminal community. It's anticipated that Stanislav Matyukhin will face similar charges. Despite the allegations, Matyukhin denies any wrongdoing, claiming he was only trying to salvage the company and did not accumulate significant wealth from his involvement in QBF. However, it's noted that he acquired a luxury apartment near the company's office during his tenure at QBF.
Aftermath:
Following the arrest of his colleagues, Matyukhin was the face of the company, assuring clients that their savings were safe. Few clients managed to retrieve their funds. One of the notable clients was ballerina Anastasia Volochkova, who managed to recover only a fraction of her investment. When she sought the return of her remaining funds, Matyukhin directed her to the QBF beneficiary, Roman Shpakov.
From the Central Bank to a Criminal Gang: The Path Wasn't Long
Grandson of former head of Russia's bank arrested for manipulations
By Oleg Rubnikovich, 22.05.2022, 01:34
As "Ъ" learned, Stanislav Matyukhin, the grandson of the former chairman of the Central Bank, Georgy Matyukhin, was arrested in Moscow. He served as the CEO of a large financial pyramid operating under the banner of the investment company QBF. Like the top managers arrested earlier, he is accused of participating in an organized criminal group (OCG) that stole at least 2 billion rubles from investors. After the beneficiary of the QBF financial group, Roman Shpakov, fled abroad, Mr. Matyukhin was the one who, up until the company's license was revoked, reassured depositors not to worry about their savings.
According to "Ъ", on Wednesday morning near the house on Kutuzovsky Prospekt where 36-year-old Stanislav Matyukhin lives, a considerable number of officers from the Main Directorate for Economic Security and Anti-Corruption Enforcement of the Ministry of Internal Affairs, their district colleagues, and employees of the Moscow FSB landed. The arrest was likely not a big surprise for the former QBF top manager, given that many of his colleagues are already under arrest or on the run. It should be noted that, according to "Ъ", a search in Mr. Matyukhin's apartment wasn't conducted, as this procedure had been carried out there twice before while he was a witness in the case.
Stanislav Matyukhin became the CEO of QBF in 2017, appointed as the grandson of Georgy Matyukhin, who chaired the Central Bank from 1990 to 1992. Before that, he had worked at the Federal Service for Financial Markets and the Central Bank itself. In the latter, he effectively oversaw QBF. Serving as the deputy head of the department licensing joint-stock investment funds, managing companies, specialized depositories, and non-state pension funds of the regulation and control over collective investments, Mr. Matyukhin dealt with the regulation of financial companies' activities from their inception to their termination.
At QBF, Stanislav Matyukhin oversaw the general management of the investment and management companies. One of his main tasks in the new position was to expand the sales channel. Apparently, the arrested man performed his tasks quite successfully.
However, as revealed during an investigation initiated last year by the Investigative Department of the Ministry of Internal Affairs into a criminal case of large-scale fraud (Part 4, Article 159 of the Criminal Code of the Russian Federation), the funds received from clients, instead of the promised investments in serious financial portfolios, were diverted to offshore zones.
At the moment, the damage to depositors exceeds 2 billion rubles.
This money, according to law enforcement agencies, was used by the alleged fraud organizers to purchase shares, real estate, expensive cars, and other assets. Assets estimated to be worth about 1 billion rubles have already been seized by the court.
Recently, six participants of the financial pyramid, including the QBF beneficiary Roman Shpakov who is hiding abroad, were also accused of organizing a criminal community and participating in it (Article 210 of the Criminal Code of the Russian Federation). According to "Ъ", a similar charge will soon be brought against Stanislav Matyukhin, who was detained for two days. The investigation intends to petition the court for his arrest.
The defendant, both as a witness and now as a suspect, denies his guilt in both the theft of money and participation in the OCG. According to him, he was just trying to "save a sinking ship" and supposedly did not amass any significant capital from his involvement in QBF. However, this remains to be verified by the investigation. For now, it is known that he acquired his apartment on Kutuzovsky Prospekt, 22 (a ten-minute walk from the company's office in "Moscow-City" on Presnenskaya Embankment) while being an employee of QBF.
It should be noted that after the arrest of his colleagues, it was precisely Stanislav Matyukhin who had to convince clients, up until the company's license was revoked on July 8, 2021, that they had no reason to worry about their savings. However, only a few were lucky. Among them was the famous ballerina Anastasia Volochkova, who invested about 3 million rubles in Mr. Shpakov's project. Even then, when returning part of the invested funds (500 thousand rubles), Mr. Matyukhin, according to the investigation's version, hoped that Ms. Volochkova, using her connections, would help unblock the company's accounts in the regions. However, she did not do so, after which QBF staff ceased contact with her. Mr. Matyukhin merely advised her to address all further questions about the return of the remaining 1.7 million rubles to the beneficiary of the QBF financial group, Roman Shpakov.
2022-05-13 Kommerssant -A Criminal Organization Settles in the City - QBF's top managers are accused of the most severe crimes by Oleg Rubnikovich,
A Criminal Organization Settles in the City - QBF's Top Managers Accused (Published by Kommersant on 13.05.2022):
The investment company QBF is under intense scrutiny as six of its participants are now identified by investigators as members of an organized criminal group (OCG). Contrary to their commitments to clients, QBF's management is accused of diverting funds into offshore accounts. Currently, the damage is over 2 billion rubles, but the total could rise to between 5-7 billion rubles, taking into account VIP investors who haven't publicly declared their losses.
The investigative arm of the Ministry of Internal Affairs has spent over a year examining QBF's operations. Their findings suggest that beyond the large-scale fraud, the actions of QBF's participants are reminiscent of an OCG. Roman Shpakov, believed to be the main architect of this scheme and beneficiary of QBF, is suspected of hiding in London and has been declared internationally wanted. Linda Atanasiadou, a Cypriot citizen, is also under the scanner for her role in QBF's financial activities.
Four additional individuals tied to QBF are facing direct charges of OCG membership, with three of them in pre-trial detention. The inception of this criminal case was a series of individual complaints against QBF, which surged, leading to wider investigative involvement. In May 2021, a massive operation in Moscow and St. Petersburg resulted in more than 30 searches, including at QBF's primary office.
Investigators claim that QBF lured funds from various regions under the pretense of genuine investments. However, these funds were funneled to offshore companies and then rerouted to other non-resident companies associated with the group. These monies were then invested in luxury assets.
Clients of QBF were routinely sent fabricated reports to give the illusion of genuine investment activities. Attempts by investors to withdraw funds were often met with resistance or outright denial. To maintain its reputation, QBF did pay dividends to some investors but did so using the funds of newer clients.
To date, the established damage by QBF to investors stands at over 2 billion rubles. However, based on seized documents, the actual figure might be between 5-7 billion rubles. A discrepancy arises as many high-profile clients, including VIPs like clergy, generals, and ministers, have not come forward, likely because of their inability to demonstrate the legal origins of their funds.
A Criminal Organization Settles in the City QBF's top managers are accused of the most severe crimes.
By Oleg Rubnikovich, 13.05.2022, 01:34
As "Ъ" has learned, six participants of a major financial pyramid operating under the banner of the investment company QBF are now considered by investigators to be members of an organized criminal group (OCG). Instead of the promised investment of funds received from clients into solid financial portfolios, the alleged fraudsters transferred the money to offshore accounts. Currently, the damage inflicted on depositors exceeds 2 billion rubles. Considering VIPs who invested in QBF but haven't yet declared themselves as victims, the total theft might amount to about 5-7 billion rubles.
The investigative department of the Ministry of Internal Affairs has been examining the activities of the major investment company QBF for just over a year. During this time, law enforcement officials concluded that, in addition to large-scale fraud (Part 4, Article 159 of the Russian Criminal Code), the actions of the financial pyramid's participants have all the hallmarks of an OCG (Article 210 of the Russian Criminal Code). As a result, this charge was recently added to the six defendants of this criminal case, with two of them being charged in absentia. The investigation believes that the mastermind behind this crime is Roman Shpakov, the beneficiary of the QBF financial group, who is allegedly hiding in London. He has been declared internationally wanted. According to "Ъ", a similar fate awaits Cypriot citizen Linda Atanasiadou soon. The investigation believes she was responsible for QBF's finances.
Another four defendants, three of whom are in pre-trial detention, have already been directly charged with participating in an OCG. This refers to the co-founder of QBF LLC, who previously led the company's Cypriot branch, Zelimkhan Munaev, the company's lawyer, Evgeniya Rossieva, the head of QBF LLC's St. Petersburg office, Alexey Golubev, and the director of the company's branch network, Vladimir Pakhomov, who is currently under house arrest.
As "Ъ" previously reported, the initial trigger for the criminal case was a few individual complaints from citizens to the Western District's police department in Moscow. After the number of complaints against QBF's managers reached dozens, the case was handed over for further investigation to the investigative department of the Ministry of Internal Affairs, with officers from the Main Directorate for Economic Security and Corruption Control and the Moscow Federal Security Service joining the operational-search activities.
In late May 2021, with their participation and the support of special forces, a large-scale special operation took place in Moscow and St. Petersburg. In total, over 30 searches were conducted, including at QBF's main office located in the "City of Capitals" complex in "Moscow City" (Presnenskaya Embankment, 8, Building 1).
According to investigators, the company attracted funds from citizens under the guise of investing in serious financial portfolios in Moscow, St. Petersburg, Sverdlovsk, Tyumen, Murmansk regions, as well as in Bashkiria and Tatarstan. However, instead, the money ended up in the accounts of companies like QCCI Ltd (Cyprus), Simtelligence (Hong Kong), and White Lake ltd (Cayman Islands), from where they were later transferred to accounts of other non-resident companies, affiliated, according to investigators, with the group's participants. The alleged organizers of the pyramid scheme used these funds at their discretion, investing in stocks, real estate, luxury cars, and more.
Almost everyone who trusted Roman Shpakov's team was convinced that their money was working and generating profit, as managers sent them fictitious monthly and quarterly reports via email.
Investors' problems began when they tried to withdraw their money from QBF. They were denied under various pretexts, and when the excuses ran out, phone calls simply went unanswered.
It's worth noting that some depositors were still paid dividends to maintain the company's reputation. However, this was done exclusively at the expense of funds from subsequent clients.
Currently, it's been established that the damage caused by QBF LLC (whose license was revoked on July 8, 2021) to investors amounts to over 2 billion rubles. However, from the documents seized during searches, it appears that the total amount stolen from depositors could be around 5-7 billion rubles. This discrepancy in figures is explained by the fact that among QBF's clients, there were many VIPs, including clergy, generals, ministers, and directors of various large state and commercial structures. Yet, none of those who gave the alleged fraudsters between 200-300 million rubles want to publicize their losses and haven't officially been listed as victims. Police note that QBF's business was primarily aimed at affluent clients, some of whom had access to budget funds. As the pyramid scheme's participants had anticipated, these individuals, having lost significant amounts, did not turn to law enforcement due to their inability to prove the legality of the funds' origins.
Oleg Rubnikovich
2022-01-19 Kommerssant - London Hides a Guest from the "City of Capitals" - QBF Group's beneficiary, Roman Shpakov, is being sought worldwide. By Oleg Rubnikovich,
London Hides a Guest from the "City of Capitals" - QBF Group's Beneficiary, Roman Shpakov, Sought Worldwide (Published by Kommersant on 19.01.2022):
Roman Shpakov, 33-year-old beneficiary of the QBF investment company, has found himself on Interpol's international database of wanted persons. He's accused of orchestrating a pyramid scheme, misrepresenting investments, and potentially pilfering between 5-7 billion rubles from depositors. In the wake of a significant special operation in May 2021, which saw over 30 searches across Moscow and Saint Petersburg, several associates of Shpakov were detained or placed under house arrest. However, by that time, Shpakov had already relocated overseas.
In September of the previous year, the Tverskoy District Court approved an in-absentia arrest for Shpakov. Recent reports indicate that after residing in the UAE, Shpakov has moved to London, believed to be a strategic move on his part to avoid extradition should he be arrested. The foundation of the charges against him stems from QBF's operations, which allegedly lured clients with promises of high returns on investments. However, when clients attempted to withdraw their funds, they were met with excuses or complete silence.
Investigations have revealed that the funds from investors were channeled to offshore companies, such as QCCI LTD (Cyprus), Simtelligence (Hong Kong), and White Lake ltd (Cayman Islands) (all set up, opperated and run by NOA Circle and by Apollon Athanasiades). These funds were then transferred to other affiliated non-resident companies. The alleged organizers of this scheme subsequently used these funds for luxury purchases, including cars, real estate, and stocks.
The estimated stolen amount ranges between 5-7 billion rubles, with the broad range potentially due to the high-profile nature of some of QBF's clients. Many of them, including VIPs from various sectors, invested significant sums but have chosen not to publicize their losses or accept the status of victims. Notably, famous ballerina Anastasia Volochkova is among the known affected parties, with QBF owing her 1.7 million out of the 3 million rubles she invested.
After the revocation of its license in July 2021, QBF ceased its operations. Since then, several clients have attempted to reclaim their investments through civil litigation, often facing challenges in court.
London Hides a Guest from the "City of Capitals" - QBF Group's beneficiary, Roman Shpakov, is being sought worldwide.
By Oleg Rubnikovich, 19.01.2022, 00:43
As "Ъ" has learned, the name of the QBF financial group's beneficiary, Roman Shpakov, has appeared in Interpol's international database of wanted persons. Investigators believe he is the mastermind behind a pyramid scheme that, under the guise of investing depositors' money into serious financial portfolios, could have stolen about 5-7 billion rubles from them. Before the criminal case was initiated, Mr. Shpakov had moved to the United Arab Emirates, and since last October, he has allegedly settled in London.
Roman Shpakov becomes an international fugitive
33-year-old Roman Shpakov, the beneficiary of the investment company QBF, became a defendant in a criminal case regarding large-scale fraud (Part 4, Article 159 of the Russian Criminal Code) at the end of May 2021. At that time, as part of a large-scale special operation involving the Main Directorate for Economic Security and Corruption Control of the Ministry of Internal Affairs, the Moscow Federal Security Service, and special forces, over 30 searches were conducted in Moscow and Saint Petersburg, including at QBF's main office, which occupied several floors in the "City of Capitals" complex in "Moscow City" (Presnenskaya Embankment, 8, Building 1).
The first to be detained by operatives were 30-year-old co-founder of QBF LLC, who previously headed the company's Cypriot branch, Zelimkhan Munaev, and 47-year-old lawyer of this structure, Evgeniya Rossieva. Both were sent to pre-trial detention by the Tverskoy District Court of Moscow upon the request of the investigative department of the Ministry of Internal Affairs. Another defendant, the company's branch network director Vladimir Pakhomov, was placed under house arrest. By that time, Roman Shpakov was already abroad, having relocated as soon as he learned of law enforcement's interest in his project.
On September 27th last year, the same Tverskoy District Court sanctioned the in-absentia arrest of the alleged organizer of the multi-billion scam. Recently, Roman Shpakov's name appeared in Interpol's international wanted persons database. It's worth noting that until recently, the founder of QBF, according to "Ъ", lived in the UAE. However, shortly after the in-absentia arrest, he moved to London, where he allegedly owns property.
It seems that the businessman is hoping that, unlike the Emirates, if he is arrested in the UK, the country initiating the search won't extradite him.
As "Ъ" has previously reported, during the investigation, it was established that citizens' funds were attracted by the company under the guise of investing in serious financial portfolios in Moscow, Saint Petersburg, Sverdlovsk, Tyumen, Murmansk regions, as well as Bashkiria and Tatarstan.
QBF managers lured clients with the opportunity to earn around 20% from investments. To maintain the company's reputation, some clients were indeed paid dividends, but exclusively from the funds of subsequent depositors. Almost all those who trusted Roman Shpakov's team were convinced that their money was working and generating profit, as the managers sent them fictitious monthly and quarterly reports via email.
Investors' problems began when they tried to withdraw their money from QBF. Clients were denied under various pretexts, and when the arguments ran out, they simply stopped answering phone calls.
Investigators found that all investors' funds ended up in the accounts of companies QCCI LTD (Cyprus), Simtelligence (Hong Kong), and White Lake ltd (Cayman Islands), from where they were later transferred to other non-resident companies affiliated with the group members. The alleged organizers of the pyramid scheme used these funds at their discretion, investing in the purchase of expensive cars, real estate, stocks, etc.
In total, investigators believe that the pyramid's organizers could have stolen around 5-7 billion rubles.
Such a range of figures might be due to the fact that among QBF's clients, there were many VIPs, including clergy, generals, ministers, and directors of various large state and commercial structures. Some gave the alleged fraudsters 200-300 million rubles, while others gave up to 1 billion rubles. However, for various reasons, they not only don't want to publicize their losses but also refuse the status of victims.
So far, the only celebrity known to have been affected in this case is the famous ballerina Anastasia Volochkova. Of the 3 million rubles she invested in QBF, the company still owes her 1.7 million rubles.
Note that QBF LLC ceased its operations on July 8, 2021, after its license was revoked by the regulator. By that time, some clients tried to get their money back through civil litigation. However, as practice shows, this proved to be quite problematic. For example, the CEO of a large online store specializing in the sale of IT and network equipment failed to win his case.
In March 2021, even before the criminal case was initiated, the businessman tried to claim over $550,000 from the defendants, including Roman Shpakov, in the Presnensky District Court of the capital. "During the case review, no evidence was found of the plaintiff transferring funds to any of the defendants," the court decision states. Yesterday, this decision was upheld by the appellate instance.
Oleg Rubnikovich
2021-12-01 Kommersant - Police Followed the Branch Network - Top managers of QBF detained on suspicion of fraud By Oleg Rubnikovich,
Police Followed the Branch Network - Top Managers of QBF Detained on Suspicion of Fraud (Published by Kommersant on 01.12.2021):
Recent Arrests:
Two more former high-ranking officials from the QBF financial pyramid, operating under suspicion of a significant scam, have been apprehended in Moscow and Saint Petersburg. Vladimir Pakhomov, director of the company's branch network, and Alexey Golubev, head of the Saint Petersburg office, are the recent detainees.
Victims and Damages:
The number of victims and the magnitude of the financial damage are constantly escalating. The elusive beneficiary of QBF, Roman Shpakov, allegedly in hiding overseas, is said to be contacting VIP clients, proposing to reimburse their investments if they abstain from involving law enforcement.
Background:
Golubev was arrested in Saint Petersburg, while Pakhomov was apprehended in Moscow. It's highlighted that Pakhomov had been restricted from leaving the country since the initiation of the criminal case last spring. During this period, other associates, Zelimkhan Munaev and Evgeniya Rossieva, were also implicated and have since spent eight months in pre-trial detention.
Search Findings:
Documents and electronic storage devices related to QBF's operations were seized from both Golubev and Pakhomov during the searches. Golubev's statements to the investigative department of the Ministry of Internal Affairs were reportedly based on rehearsed templates intended for QBF executives, while Pakhomov reiterated his prior statements concerning his roles in various regions.
Modus Operandi:
QBF enticed clients with prospects of earning approximately 20% from investments. While some clients received dividends, these payouts were funded exclusively by new depositors. Clients were consistently assured of their funds' profitability through fabricated monthly and quarterly email reports. However, when clients attempted to withdraw their funds, they were met with excuses or were ignored outright.
Mastermind:
The principal orchestrator of this elaborate scam, believed to have defrauded investors of an estimated 5-7 billion rubles under the pretense of genuine financial portfolio investments, is identified as Roman Shpakov, the QBF founder. Currently on an international wanted list, Shpakov managed to flee to the UAE before the criminal case's initiation. Rumor has it that from the UAE, after a publication revealed that ballerina Anastasia Volochkova was recognized as a victim, Shpakov initiated contact with other deceived VIP clients, promising to reimburse their investments in return for their silence.
Public Perception:
While Shpakov might genuinely reimburse renowned clients, average victims view this as a PR move, anticipating these VIPs might advocate for his new ventures. Despite the revocation of QBF's license in July 2021, the management that remains at liberty continues to solicit funds, albeit now under different corporate names. Even a week ago, clients received calls with propositions to invest their money lucratively.
Police Followed the Branch Network Top managers of QBF detained on suspicion of fraud
By Oleg Rubnikovich, 01.12.2021, 15:27
As "Ъ" has learned, in Moscow and Saint Petersburg, the police detained two more former top managers of a major financial pyramid operating under the QBF brand. On Thursday, the court is set to consider the investigative department's petitions for the arrest of the company's branch network director, Vladimir Pakhomov, and the head of the Saint Petersburg office, Alexey Golubev. The number of victims and damages in this case is growing almost daily. QBF's beneficiary, Roman Shpakov, who is hiding abroad, is allegedly calling VIP clients, promising to return their money in exchange for not contacting law enforcement agencies.
Within the investigation of the high-profile criminal case regarding particularly large-scale fraud (Part 4, Article 159 of the Russian Criminal Code) involving QBF financial group depositors' funds, new arrests have taken place. In Saint Petersburg, on Nevsky Prospekt, an investigative team from Moscow detained the head of the local group office, 31-year-old Alexey Golubev. At the same time, in Moscow, in his apartment on Rublyovskoye Highway, officers from the Main Directorate for Economic Security and Corruption Control of the Ministry of Internal Affairs and the Western District Police arrested 33-year-old Vladimir Pakhomov, who was responsible for the entire QBF branch network. It's worth noting that the latter has been under a non-departure order since last spring when the criminal case was initiated. Back then, alongside him, 30-year-old co-founder of QBF LLC, who previously headed the company's Cypriot office, Zelimkhan Munaev, and the company's lawyer, Evgeniya Rossieva, became defendants. The latter two have been in pre-trial detention for eight months.
During the searches, documents and electronic data carriers related to QBF's activities were confiscated from both Golubev and Pakhomov. Both suspects were interrogated in the investigative department of the Ministry of Internal Affairs until late evening.
According to "Ъ", Alexey Golubev responded with rehearsed templates specifically written for QBF management. Such notes were found on every desk during searches last spring in the "City of Capitals" complex in "Moscow City," where the company leased several floors.
Vladimir Pakhomov, according to "Ъ," basically reiterated to the investigator his previous statements about his responsibilities as the head of the branch network in the Sverdlovsk, Tyumen, and Murmansk regions, as well as in Bashkiria and Tatarstan. On Thursday, the investigation plans to appeal to the Tverskoy District Court of Moscow with a petition for the arrest of both suspects.
As "Ъ" previously reported, QBF managers lured clients with the opportunity to earn about 20% from investing. Some clients were indeed paid dividends, but solely from the funds of subsequent depositors.
Almost everyone who trusted this financial pyramid was convinced that their money was working and generating profit, as the managers sent them fictitious monthly and quarterly reports via email.
However, investors faced problems when they decided to withdraw their funds from QBF. Clients were denied for various reasons, and when the excuses ran out, they simply stopped answering phone calls.
The organizer of this massive scam, during which around 5-7 billion rubles could have been stolen from investors under the guise of serious financial portfolio investments, is considered by the investigation to be QBF founder Roman Shpakov, who is currently on the international wanted list. Before the criminal case was initiated, he managed to leave for the UAE. Allegedly, from there, after the publication in "Ъ" about the famous ballerina Anastasia Volochkova being recognized as a victim (QBF owes her 1.7 million rubles), Mr. Shpakov began to call other deceived VIP clients, who are not yet rushing to contact the police. In exchange for not turning to law enforcement agencies, the businessman allegedly promises to return their invested funds. However, this seems more like a PR stunt. At least that's the opinion of the average victims.
They believe that Roman Shpakov might indeed return the money to well-known clients in hopes that they will share this information with their friends and acquaintances.
Those, in turn, might invest in his new projects, as the management that remains free continues to collect money, but now in organizations under different names.
Moreover, even after July 8, 2021, when the Central Bank revoked QBF's license, there were still calls to clients a week ago with offers to profitably invest their funds.
Oleg Rubnikovich
2021-11-18 Kommersant - Pyramid Scheme Entranced by Prima - Anastasia Volochkova fell victim to fraudsters from QBF by Oleg Rubnikovich
Pyramid Scheme Entranced by Prima - Anastasia Volochkova Fell Victim to Fraudsters from QBF (Published by Kommersant on 18.11.2021):
Star Victim:
In the ongoing criminal investigation concerning the QBF financial pyramid, famous ballerina Anastasia Volochkova emerges as a significant victim. She invested 3 million rubles in the company and has yet to receive 1.7 million rubles back.
Volochkova's Experience with QBF:
Last year, a representative from QBF named Timur contacted Volochkova, initially proposing she recommend QBF to her associates. Although she declined, she was later convinced to invest. Anastasia visited QBF's office in Moscow in July 2020 and transferred 2 million rubles at a 10% annual rate. Persuaded by Timur again, she later transferred another 1 million rubles for a three-month term. However, she grew suspicious upon receiving empty payment orders. In August 2021, QBF did not promptly return her 2 million rubles. Although she managed to recover part of her money (500,000 rubles), the company still owes her 1.7 million rubles.
Company's Downfall:
After the law enforcement's searches in May 2021, QBF nearly halted its operations. The company's CEO, Stanislav Matyukhin, promised to repay Volochkova in installments. However, subsequent communication ceased, and Matyukhin redirected her queries to the QBF financial group's beneficiary, Roman Shpakov, who remains elusive.
Roman Shpakov's Escape:
Shpakov, believed to be the scheme's main orchestrator, managed to leave Russia as soon as he became aware of law enforcement's interest in his venture. Current speculations place him in the UAE. He was recently arrested in absentia by the Tverskoy District Court of Moscow.
Scope of Fraud:
Law enforcement suspects that the QBF pyramid scheme could have defrauded investors of around 5-7 billion rubles. To recoup some of the alleged losses, assets affiliated with group members, including luxury cars, real estate, and shares in several closed-end investment funds, were seized, amounting to roughly 1 billion rubles in market value.
Victims:
Currently, 500 individuals are officially recognized as victims. However, the real number could be double. Notably, several VIPs, including clergy, generals, ministers, and directors, invested with QBF. But unlike Volochkova, many do not want to disclose their losses or accept the status of a victim.
Pyramid Scheme Entranced by Prima - Anastasia Volochkova fell victim to fraudsters from QBF
By Oleg Rubnikovich, 18.11.2021, 20:39
As "Ъ" has learned, in the high-profile criminal case against members of a major financial pyramid operating under the QBF brand, a star victim has emerged. The renowned ballerina Anastasia Volochkova has been recognized as such. The alleged fraudsters owe her 1.7 million rubles. To date, there are officially about 500 registered victims in the case. The investigation believes that under the guise of investing depositors' money into serious financial portfolios, they could have stolen around 5-7 billion rubles from them.
Not waiting for the return of the money, Anastasia Volochkova turned to the police
Anastasia Volochkova approached the Police Department of the Tverskoy District of Moscow last Wednesday. In her statement, she reported that she invested 3 million rubles in the company last year, and to date, they have not returned 1.7 million rubles to her.
Anastasia Volochkova explained her interaction with QBF representatives to "Ъ". According to the ballerina, in mid-June of last year, a certain Timur, calling himself a representative of QBF, called her mobile. When asked where he got her phone number, the young man replied that it was "in the database."
"He then said he knew about my connections and straightforwardly suggested that I recommend their company to my friends for investments," says Anastasia Volochkova. "Of course, I declined. Then they offered me to become an investor."
On July 31, 2020, Anastasia Volochkova visited the QBF office located in the "City of Capitals" complex in "Moscow City" (Presnenskaya Embankment, 8, building 1). There, she signed a contract for one year, and a few days later transferred 2 million rubles to the company's account at 10% per annum. Some time later, Timur convinced Mrs. Volochkova to transfer another 1 million rubles for a three-month term. "For the next three months, I received empty payment orders from QBF on my email, without any sums or signatures, which somewhat alarmed me," says Anastasia Volochkova.
In the end, unlike hundreds of other victims, the prima ballerina managed to get back not only her million but also the profit from the deposit - 150,000 rubles. But no one was in a hurry to return the 2 million rubles to Mrs. Volochkova in August 2021. After the searches conducted by the Main Directorate for Economic Security and Corruption Control of the Ministry of Internal Affairs in May of this year as part of the criminal case on particularly large-scale fraud (Part 4, Article 159 of the Criminal Code of the Russian Federation), QBF practically ceased its operations.
"Then I reached out to QBF's CEO Stanislav Matyukhin, who promised that the money would be returned to me in installments, and also asked me to use my connections to help them unblock the company's accounts in St. Petersburg and, I believe, also in Bashkiria. I didn't do that, but they still returned 500,000 rubles to me," Anastasia Volochkova concluded.
After that, QBF employees stopped contacting the client - Mr. Matyukhin simply advised further questions regarding the return of the remaining 1.7 million rubles to be addressed to the beneficiary of the QBF financial group, Roman Shpakov.
However, he was out of reach not only for Anastasia Volochkova but also for law enforcement agencies.
As "Ъ" previously reported, unlike the detained co-founder of QBF LLC, who previously headed the company's Cypriot office, Zelimkhan Munaev, the lawyer of this structure, Evgeniya Rossieva, and the director of the company's branch network, Vladimir Pakhomov, Mr. Shpakov managed to leave the country as soon as he learned of the interest of law enforcement agencies in his venture. He is currently believed to be in the United Arab Emirates.
A month ago, at the request of the Investigative Department of the Ministry of Internal Affairs, the Tverskoy District Court of Moscow arrested Roman Shpakov in absentia, whom the investigation considers the organizer of the crime.
Law enforcement agencies believe that under the guise of investing depositors' money in serious financial portfolios, they could have stolen around 5-7 billion rubles from them.
To offset the alleged damage, the court also seized several luxury foreign cars, including several Mercedes and Porsche, real estate in Moscow and the Moscow region, including a shopping center in Zelenograd, as well as shares in several closed-end investment funds belonging to organizations affiliated with group members. In total, the market value of the seized assets is around 1 billion rubles.
To date, only about 500 people have been officially recognized as victims in this case. In reality, according to the investigation's estimates, there are at least twice as many.
According to "Ъ", among others, several dozens of VIP persons, including clergy, generals, ministers, and directors of various structures, gave their money to the alleged fraudsters. However, unlike Anastasia Volochkova, for various reasons, they
not only do not want to publicize their losses but also refuse the status of a victim.
Oleg Rubnikovich
2021-11-18 Forbes - Among the Victims of the Financial Pyramid Under the QBF Signboard Was Volochkova | By By Sergey Teplyakov, Forbes, November 18, 2021
The QBF financial pyramid scheme has claimed another high-profile victim - renowned ballerina Anastasia Volochkova. As reported by "Kommersant", Volochkova was approached by a representative from QBF last summer, who persuaded her to invest in the company and also promote it among her acquaintances. While she invested 3 million rubles in total, 1.7 million rubles were never returned. Following this, Volochkova lodged an official complaint with the Tverskoy District Police Department in Moscow.
As investigations progress, about 500 victims have been officially recognized in the case. The overall suspected amount defrauded from investors ranges between 5 and 7 billion rubles. Earlier in May, "Kommersant" had shed light on the financial scheme, revealing that it operated under the guise of the investment firm QBF. The company had occupied multiple floors in the "City of Capitals" tower in Moscow City. Investigators deduced that the fraudsters lured investors with promises of lucrative returns, only to divert the funds to offshore accounts.
The scheme predominantly targeted affluent clients, especially those believed to have connections to budgetary funds. The perpetrators assumed that these wealthy clients would refrain from reporting to the authorities due to potential legal complications regarding the source of their funds. However, this assumption was debunked when a criminal case was initiated against QBF based on a complaint by the 24-year-old son of a former Yekaterinburg official. This led to the arrest of QBF's managing director, Zelimkhan Munaev.
Amidst the escalating scandal, the Central Bank stripped QBF of its licenses in July.
Anastasia Volochkova Among the Victims of the Financial Pyramid Under the QBF Signboard
By Sergey Teplyakov, Forbes Staff, November 18, 2021
One of the victims of a large financial pyramid operating under the QBF banner turned out to be Anastasia Volochkova. She revealed that she lost 1.7 million rubles. In total, according to investigators, depositors might have been defrauded of 5-7 billion rubles.
One of the victims of a major financial pyramid, which operated under the QBF banner, was Anastasia Volochkova, as learned by "Kommersant".
Volochkova explained that last summer, a QBF representative contacted her, offering her to become an investor and to recommend the company to friends for investments. According to her, she invested a total of 3 million rubles in the company, but 1.7 million rubles were never returned to her. The ballerina filed a complaint with the Tverskoy District Police Department in Moscow.
There are about 500 officially registered victims in the case, the newspaper reports. In total, according to the investigation, depositors might have been defrauded of 5-7 billion rubles.
In May, "Kommersant" reported that the police had uncovered a large financial pyramid operating under the banner of the investment company QBF. The Investigative Department of the Ministry of Internal Affairs opened a criminal case on large-scale fraud against company employees, who occupied several floors in the "City of Capitals" tower in Moscow City.
Investigators concluded that the alleged fraudsters attracted depositors by promising high returns but transferred the received funds offshore.
The main focus, wrote "Kommersant", was on wealthy clients who might have had access to budgetary funds, hoping that these individuals would not go to the police, as they would not be able to prove the legality of the managed funds. However, as Forbes found out in June, this calculation was incorrect. The case against QBF employees was initiated based on the statement of the 24-year-old son of a former official from Yekaterinburg, as told by the lawyer of the managing director of QBF, Zelimkhan Munaev, who was arrested in the fraud case.
In early July, the Central Bank revoked QBF's licenses.
2021-10-07 Kommerstant - Roman Shpakov Left, Leaving Assets Behind In the QBF fraud case, a shopping center was arrested By Oleg Rubnikovic
Roman Shpakov Left, Leaving Assets Behind In the QBF Fraud Case (Published by Kommersant on 07.10.2021):
International Search:
Roman Shpakov, the beneficiary of the QBF financial group, is declared internationally wanted by Interpol. He is suspected of masterminding a pyramid scheme that defrauded investors of approximately 5-7 billion rubles.
Hiding in the UAE:
Shpakov, believed to be hiding in the United Arab Emirates, has been charged with particularly large-scale fraud (Part 4, Article 159 of the Criminal Code of the Russian Federation). His name is expected to appear in Interpol's international wanted database soon.
Seizure of Assets:
The court ordered the seizure of multiple assets affiliated with Shpakov. These include several luxury cars (Mercedes and Porsche models), real estate properties in Moscow and its surrounding region, a shopping center in Zelenograd, and shares in closed-end investment funds. The total market value of these assets is estimated at 1 billion rubles.
Details of the Fraud:
The QBF financial group, under the guise of investing in financial portfolios, allegedly defrauded investors in multiple regions, including Moscow, St. Petersburg, Sverdlovsk, Tyumen, Murmansk, Bashkiria, and Tatarstan. The scheme primarily targeted wealthy clients, particularly those with access to budget funds. The company promised substantial returns on investments, luring clients with potential earnings of around 20%. Although some investors received dividends, these payouts were financed by new depositors. Most investors faced difficulties when trying to withdraw their funds, with QBF eventually ceasing communication.
Flow of Funds:
Investigators discovered that all the funds from investors were channeled into accounts of companies like QCCI LTD (Cyprus), Simtelligence (Hong Kong), and White Lake ltd (Cayman Islands) (opperated by NOA Circle and Apollon Athanasiades) The money was subsequently redirected to accounts of other non-resident companies affiliated with group members. These funds were utilized to buy luxury assets and real estate and were invested in various projects, including the construction of residential complexes.
QBF's Current Status:
QBF LLC terminated its operations on July 8, 2021, after its license was revoked. A temporary administration was set up on September 21, and the Central Bank mandated QBF to settle its debts with clients by January 19, 2022.
Roman Shpakov Left, Leaving Assets Behind In the QBF fraud case, a shopping center was arrested
By Oleg Rubnikovich, 07.10.2021, 00:20
As "Ъ" has learned, Roman Shpakov, the beneficiary of the QBF financial group who was arrested in absentia, has been declared internationally wanted. Investigators consider him the organizer of a pyramid scheme that, under the guise of investing depositors' money into serious financial portfolios, may have stolen approximately 5-7 billion rubles from them. Unlike his arrested accomplices, Mr. Shpakov managed to leave the country as soon as he learned of the interest of law enforcement agencies in his venture.
Interpol will be looking for Roman Shpakov
At the request of the Investigative Department of the Ministry of Internal Affairs, the Tverskoy District Court of Moscow arrested in absentia the alleged organizer of a major financial pyramid, Roman Shpakov. Allegedly hiding in the United Arab Emirates, the founder of the QBF investment company is charged with particularly large-scale fraud (Part 4, Article 159 of the Criminal Code of the Russian Federation). He has been declared internationally wanted, and soon his name should appear in Interpol's wanted database.
In addition, by court decision, a number of expensive foreign cars, including several Mercedes and Porsche models, real estate in Moscow and the Moscow region, including a shopping center in Zelenograd, and shares in several closed-end investment funds belonging to organizations affiliated with group members, were seized.
In total, the market value of the seized assets is around 1 billion rubles.
The businessman's lawyer declined to comment on both the absentia arrest of her client and the circumstances of the crime he is charged with.
As "Ъ" previously reported, a criminal case involving 33-year-old Roman Shpakov was initiated in April 2021. The first to be arrested in Moscow as part of the investigation were 30-year-old co-founder of QBF LLC, who previously headed the Cypriot office of the company, Zelimkhan Munaev, and 47-year-old lawyer of this structure, Evgeniya Rossieva, and in St. Petersburg - the director of the company's branch network, Vladimir Pakhomov. The first two were sent to pre-trial detention by the Tverskoy District Court at the request of the investigation, while it was decided to restrict the accused Pakhomov with a non-departure agreement. During a search at the QBF head office, occupying several floors in the "City of Capitals" complex in "Moscow City" (Presnenskaya embankment, 8, building 1), operatives from the Main Directorate for Economic Security and Corruption Control of the Ministry of Internal Affairs seized documentation and electronic data carriers.
During the investigation, it was found that the company attracted citizens' funds for investment in financial portfolios not only in Moscow and St. Petersburg but also through a branch network in the Sverdlovsk, Tyumen, Murmansk regions, as well as Bashkiria and Tatarstan. The main focus was on wealthy clients who had access to budget money. Pyramid participants believed that the latter would hardly turn to law enforcement agencies in the event of losing money due to the impossibility of proving the legality of their origin. Among QBF's clients were people who transferred 200-300 million rubles to the company, and one of the former Yekaterinburg officials even handed over 1 billion rubles to the alleged fraudsters for "trust management."
QBF managers lured clients with the opportunity to earn about 20% from investing. Some of them were indeed paid dividends, but only at the expense of subsequent depositors.
However, almost everyone who trusted Roman Shpakov's team was confident that their money was working and generating profit because managers sent them fictitious monthly and quarterly reports via email.
Problems arose for almost everyone who decided to withdraw invested funds from QBF. Clients were denied for various reasons, and when the arguments ran out, they simply stopped answering phone calls.
The investigation found that all investors' funds ended up in the accounts of QCCI LTD (Cyprus), Simtelligence (Hong Kong), and White Lake ltd (Cayman Islands) companies, from where they were subsequently transferred to the accounts of other non-resident companies affiliated with group members. The alleged organizers of the pyramid managed these funds at their discretion, investing in the purchase of expensive cars and real estate, shares, and more.
Moreover, a significant portion of the funds was actively legalized in Russia through development projects.
One of them, as established by the investigation, could be, for example, the construction of the "Gribovsky Forest" residential complex in the Odintsovo region of the Moscow region. The housing is being built by the "Simon Jesso" company, but on the internet, you can find information about another developer of this facility - "M1 Development". However, the founder of both was the same person - Roman Shpakov. In December 2020, when law enforcement agencies became interested in his activities, Mr. Shpakov transferred control of both firms to another person. According to "Ъ", the issue of initiating a criminal case against members of this group under Article 210 of the Criminal Code of the Russian Federation (Organization of a Criminal Community or Participation in It) is also being resolved.
Note also that QBF LLC ceased its activities on July 8, 2021, after the regulator revoked its license. On September 21, a temporary administration was appointed in QBF, and no later than January 19, 2022, the Central Bank required the company to settle with clients for debts.
Oleg Rubnikovich
2021-08-12 Kommersant - Ural Residents Received an Investment Bill - QBF clients have reported problems with fund withdrawal by Maxim Nachinov
Ural Residents Received an Investment Bill (Published on 12.08.2021):
Issues with QBF:
Over a hundred Ural residents, including renowned businessmen, are facing problems recovering their investments from the investment company QBF, which had its licenses revoked by the Central Bank. About 500 investors across Russia have been unable to retrieve their investments since May, with approximately 100 of them being Ural residents.
QBF's Background:
The QBF Portfolio Management financial group has been operational since 2008, comprising three companies: IK "QBF", "QBF Asset Management", and "Q.Broker". Roman Shpakov owns the financial group. By the end of 2020, the company had served over 2,000 clients and operated in six Russian cities. The Central Bank revoked its licenses on July 8th due to multiple violations, including non-compliance with Central Bank orders and breach of securities management requirements.
Clients' Allegations:
Alena Tkachuk, an investor, mentioned that QBF persuaded clients to purchase options through its sister company, LLC "Q.Broker", using reasons like client convenience and the company's reliability. However, she stated that the company didn't invest in IPO shares related to the options, and instead, funds were funneled into development projects and transferred abroad.
Major Losses:
A businessman from Yekaterinburg, Ilya Borzenkov, reportedly lost 974 million rubles, which he entrusted to QBF. After encountering difficulties in withdrawing the deposit, his son Maxim Borzenkov approached law enforcement agencies.
Collective Appeal:
More than 250 QBF investors have sent a collective appeal to various law enforcement agencies, requesting assistance in recovering their investments and initiating a criminal case against Roman Shpakov. The investors have set up a Telegram chat to coordinate their actions.
Previous Arrests:
Earlier, Zelimkhan Munaev and Evgeniya Rossieva, QBF employees, were arrested in Moscow on fraud charges. The total damage from their alleged actions is estimated at 5–7 billion rubles.
Central Bank's Statement:
The Central Bank clarified that clients were informed about the risks associated with the contracts and the lack of guarantees from LLC IK "QBF".
Expert Opinions:
Radik Akhmetshin, Director of the Ural branch of NAUFOR, expressed hope that QBF would fulfill some of its obligations. He mentioned that although the company is facing difficulties, he isn't ready to declare that no one will receive anything. Economist Konstantin Selyanin opined that QBF misled investors regarding its type of activity. He believes it will be challenging to return funds, as law enforcement agencies would need to exert significant effort to locate and liquidate assets to pay depositors.
Ural Residents Received an Investment Bill QBF clients have reported problems with fund withdrawal
12.08.2021
As "Ъ-Ural" learned, over a hundred Ural residents, including quite well-known businessmen, are trying to retrieve their investments from the investment company QBF, whose licenses have been revoked by the Central Bank. Specifically, they have joined a collective appeal to the Investigative Committee, the Prosecutor's Office, the Ministry of Internal Affairs, and the FSB (the document is available to the editorial board) with a request to initiate a criminal case for fraud against the company's leader, Roman Shpakov. QBF is not commenting on the situation. The Central Bank noted that the company's clients were aware of the risks and the lack of guarantees on its part.
Ural clients of QBF have been unable to retrieve funds since May
Local clients told "Ъ-Ural" about problems with the return of funds entrusted to the investment company QBF. According to their estimates, over 500 investors from all over Russia have been unable to retrieve their money since May, of which about 100 are residents of the Urals.
The QBF Portfolio Management financial group has been operating since 2008. It includes three companies: IK "QBF", "QBF Asset Management", and "Q.Broker". The owner of the financial group is Roman Shpakov. At the end of 2020, the company served over 2,000 clients and had branches in six Russian cities. On July 8th, the Central Bank revoked its professional securities market participant licenses. Among the violations were non-compliance with the Central Bank's orders, breach of securities management requirements, and breach of risk management system requirements. The license activity ceases from January 20, 2022, and QBF is obligated to ensure the return of client assets by January 19.
According to one of the investors, Alena Tkachuk, QBF offered investors the purchase of options through its sister company, LLC "Q.Broker", justifying their actions by maximum convenience for clients, the reliability of the entire financial group, and a significant charter capital. "However, it turned out that the company did not purchase IPO shares related to the options with the funds attracted from investors. Part of the funds was invested in development projects of the group's beneficiary, and a significant portion of client funds was transferred abroad," said the investor.
One of the investors, a businessman from Yekaterinburg, Ilya Borzenkov, was unable to return assets transferred to QBF amounting to 974 million rubles, as reported by another QBF client, Igor Ptitsa. The Borzenkov family entrusted their savings to QBF's trust management between 2016 and 2018. After the entrepreneur failed to withdraw the deposit, his son Maxim Borzenkov turned to law enforcement agencies. Ilya Borzenkov told "Ъ-Ural" that "he has given enough interviews on this topic; let other investors share their sad story."
More than 250 QBF investors submitted a collective appeal to the heads of the Investigative Committee, the Prosecutor's Office, the Ministry of Internal Affairs, and the FSB, asking for assistance in retrieving their deposits and initiating a criminal case against the company's leader, Roman Shpakov, under articles 159 (Fraud) and 210 (Organization of a Criminal Association) of the Criminal Code of the Russian Federation. To coordinate their actions, clients created a chat in Telegram, which currently has 662 subscribers. QBF's press service declined to comment on the situation.
Previously, "Ъ" reported on the arrest of QBF employees Zelimkhan Munaev and Evgeniya Rossieva in Moscow, who were charged with fraud. The total damage from the actions of the alleged fraudsters is estimated at 5–7 billion rubles.
According to the investigation, the company provided its clients with false reports about investing their money, while the funds themselves were transferred to offshore accounts and invested in development projects in the Moscow region.
The Central Bank clarified that "transactions with over-the-counter derivative financial instruments on behalf of individual clients (mainly qualified investors) were concluded with a counterparty that does not have a Bank of Russia license to conduct professional securities market activity." "At the same time, clients were informed about the risks related to these contracts, as well as about the lack of guarantees from LLC IK "QBF" to fulfill these obligations," the regulator's press service explained.
Radik Akhmetshin, Director of the Ural branch of the National Association of Stock Market Participants (NAUFOR), believes that the company will still fulfill some of its obligations. He explains the closure of the Ural branch, which investors perceived as a sign of a financial pyramid, as the company's cost minimization. "There are certain problems, but some people get their money, and others get reassurances that everything will be fine. QBF has been deprived of all licenses, but they still operate in terms of returning money to clients. The situation is indeed complicated, but I'm not yet ready to say that no one will receive anything. I hope that the Central Bank will keep the issue of payments under control," emphasized Mr. Akhmetshin.
Economist Konstantin Selyanin believes that QBF initially misled investors about its type of activity. "Some companies, effectively engaged in investment activity, obtain a license for something else and conclude fictitious deals. A loan agreement is concluded, but in fact, people are offered to give their savings so that they are then invested somewhere, and this is already another activity. This is asset management activity, which requires a separate license," the expert explained. Konstantin Selyanin added that returning funds would be difficult: "Law enforcement agencies need to spend a lot of effort to find some assets, arrest, sell, and pay money to depositors. But in practice, a person receives almost nothing."
Maxim Nachinov