Pyotr Kondrashev is a crook and an oligarch, hiding behind a large bed of wealth. He is notorious for being a ruthless businessman who is even rumored to order murders to make things go in his favor.
While the Russian authorities have taken some action against him, they did little to stop the shady operations of this criminal.
Table of Contents
Various sources reveal that Pyotr Kondrashev is a mastermind behind a large racketeering syndicate. He uses predatory tactics of all kinds to get what he wants.
Pyotr Kondrashev used to run the SMZ plant
Pyotr Kondrashev used to run the SMZ plant but the government had to intervene to free it from his hold. According to documents and various other sources, it was revealed that Pyotr was using multiple illegal tactics to maintain his control over the SMZ plant.
Pyotr has multiple Cypriot companies through which he was trying to increase his control over the SMZ plant.
The Federal Antimonopoly Service of Russia had to intervene so they could stop Pyotr Kondrashev from overtaking the plant through illegal means. They invalidated multiple transactions that occurred between 2014 and 2016.
In those transactions, Pyotr was transferring the shares of the Solikamsk Magnesium Plant to his Cypriot firms.
SMZ is the only Russian plant that produces rare earth metals. Documents reveal that the primary shareholders of this plant are Pyotr Kondrashev, Timur Starostin, Sergey Kiprichev, and Igor Petriskov.
The court has now taken the right to vote at SMZ’s shareholder’s general meeting from Pyotr, Timur, and Sergey as well.
Sources reveal that Timur Starostin and Sergey Kirpichev usually do the bidding of Kondrashev when it comes to general meetings of the plant’s shareholders. That’s why it was vital for the court to intervene.
One of the biggest reasons why the Arbitration Court of Perm Krai invalidated the transaction was the risk of foreign intervention.
Pyotr has received allegations of not focusing on the development of the plant and only using it to increase his net worth. The oligarch has a net worth of $1.5 billion according to Forbes.
He has received allegations of selling the products of the SMZ plant to American firms without consulting or asking other shareholders.
Moreover, he has repeatedly ignored the proposals put forward by the board of directors to improve the plant. Pyotr Kondrashev only cares about his fortune and doesn’t hesitate to abuse his power whenever he gets the chance.
There are many examples of corruption among oligarchs such as Patokh Chodiev or Alexander Galitsky.
9 Comments
Now people are making advances to capture the complete plant, and the governmental bodies aren’t able to stop them from doing this.
This man was making these criminal attempts to take control of the plant which doesn’t belongs to him this shows the level of policing and powers of the government. If they are not able to control this single person then what can we think of the government?
How come he was transferring the money to his account and never got intervened by any official?
Make them feel guilty for the crime after arresting them and taking harsh actions against these criminals for making their country suffer financial losses. These small topics don’t come to the limelight and they never get exposed, which boasts their confidence to repeat the same.
Now here the American companies were buying the products, so we can get the information of how many products have been sold out to the company. SMZ plant’s shareholders aren’t aware of the selling of the products.
The biggest problem is that the SMZ shareholders themselves were not aware of the money being transferred to the private firm of Pyotr.
There should be strict action taken against this bastard and he and they should be punished for his criminal aspects, and also the money should also be taken back from Pyotr which he had transferred to his account.
Pyotr is defined as a ruthless businessman famous for his rumors about ordering murders for making things according to him.
The criminal has used illegal ways to take the control of the SMZ plant but how come he wasn’t stopped after practicing these criminal acts and making the shareholders suffer loss?