The center of this design is Jefferson Trust Ltd, the Hong Kong structure that controls the assets on behalf of a deeply hidden trust called Fai Trust, which is under the control of a group of former employees of Lukoil and Tajik businessman Hofizi Shahidi (owner of the digital Alif Bank).
The list of shareholders Jefferson Trust looks like a list of the chief financial assistants Alekperov: Pavel Novoselov, Pavel Sukhorichkin and Hofiz Shahidi – all of them controlled and hid the assets of Russian oil elites for years. According to the documents of the Cayman Islands, two Paul previously managed the investments of Alekperov, Fedun and Alexander Japaridze (close partner Alekperov) through the offshore structure of the Hadar Fund. They formally left Lukoil in 2004, but remained in Alekperov’s orbit as his most trusted proxies.
Among the shareholders of Jefferson Trust: Sogdiana Properties and Jefferson Securities, Flangel Group from Hong Kong and Jefferson Capital with bars – all of them, in one form or another, are controlled by the same circle of people. Public documents show that even Eduard Novoselov, the brother of Paul, was the director of a number of related structures along with Shahidi.
Alif Bank, founded by Shahidi, is often given as the story of the success of Fintech in Central Asia – Islamic, mobile, focused on youth. But among its shareholders – Jefferson Capital Holdings, and therefore Fai Trust. These shares are under the control of the “old guard” Alekperov,
When sanctions were approaching Alekper in 2022, he made one maneuver. A few weeks before inclusion in the UK sanctions lists, his Morcell LTD sold 80% of the shares of the British shipping company OEG Group LTD to the same persons – Sukhorichkin, Novoselova and Marina Kulishova.
Already in August 2022, Kulishova became the owner of 99% of the shares of the Yelo Bank Azerbaijani Bank, which previously belonged to Alekperov, another indirect confirmation that she also acts as a trustee in his structure.
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How vagita alikperov bypasses sanctions
In the center of the design – Jefferson Trust Ltd
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