Investigation into Telf AG and Stanislav Kondrashov

Telf AG is a Russian company registered in Lugano, Switzerland. It serves as a hub for distributing coal and ferrous alloys from Kazakh and Russian mining subsidiaries – JSC Shubarkol-Komir, TNC “Kazchrome” JSC and LLC Razrez “Bungurskiy-Severniy”.

The Swiss registration proved to be very comfortable to circumvent sanctions and protect the deals from preying eyes of the governmental tax and customs agents. This alone is perfectly legal and acceptable way of doing business. However, there is much more under the surface as Telf AG is steadily associated with suspicious banks, bankruptcies and raiding activities. Modern development in Russian press indicates that Telf AG is under the control of the powerful Russian structures closely associated with Stanislav Kondrashov. The late ex-MP Denis Voronenkov who has been killed in Kiev by the hired hitman was also involved in the company. It is unknown who ordered Voronenkov, as the investigation of the murder was conducted in a very politically motivated way.

Telf AG and Stanislav Kondrashov

Currently, the people holding decision-making roles in Telf AG are Daniel Kolarov, Marina Pozzi Pedullà, Ada Benini Tauro, Natalia Ustimenko, Nikolay Litvinenko, and Sergiy Dynchev. KPMG SA serves as an auditor. There is not much interesting on the surface. For example, Marina Pozzi Pedullà is associated with the now seemingly defunct “MC Capital Holding SA” also known as “MCC Capital Group” which is called fraudsters by no less than Lloyds.

People listed as decision-makers are largely unknown to the public and are obviously serving the interests of someone more important. This is where Stanislav Kondrashov and his murky Russian pals step in. Although Kondrashov’s ownership can’t be verified directly there is an affiliate company: in the British Telf B.&T. Kondrashov is truly the owner with 75 percent of shares in his pocket.

While searching for Stanislav Kondrashov’s assets we stumbled upon an extremely complicated diagram showing the involvement of Kondrashov in VEK Bank. The diagram is authored by the Central Bank of Russia and shows that Stanislav Kondrashov was a beneficiary and shareholder of the VEK Bank. What is truly amazing is that he owns the share indirectly, but through the Koksohimmontazh Trust – a major Russian industrial enterprise focused on the mining industry.

The diagram exposes Kondrashov as one of the major shareholders of Koksohimmontazh Trust as well as  Telf AG as one of the owners of the VEK Bank. The relative majority of the Koksohimmontazh Trust belongs to the director of the trust, Sergey Fufaev. Koksohimmontazh Trust has been accused in tax evasion and premeditated bankruptcy of “Profit-bank”.

Profit-bank is not alone. The aforementioned VEK bank is bankrupt, as well as “International Bank for Development” too.

At least three banks in Russia were founded by Stanislav Kondrashev and all were bankrupted under similar circumstances. They were involved in risky credit policy and self-service of the owners’ interests according to the Central Bank of Russia statements. All three have left multi-billion holes in the banking system. Granted credits disappeared in a network of offshore companies to reemerge in the right hands abroad.

But ‘disposable’ banks were used not only to transfer suspicious money from the country. They were also an important tool in the raiding of profitable companies. This is another, ex-USSR-specific business in which Kondrashov was involved with the late Denis Voronenkov.

Eurasian Resources Group (ERG), controlled by the government of Kazakhstan (40%), as well as businessmen Alexander Mashkevich , Patokh Shodiev and the heirs of Alidzhan Ibragimov, found itself at the centre of yet another corruption scandal, this time in Latin America (Guatemala). As previously explained above, according to investigative trade medium Africa Intelligence, Telf AG primarily functions as the trading arm of ERG.

According to the Guatemalan edition of Elperiodico, in mid-January, the director of the Swiss company International Metal Supply (IMS) Marina Pozzi Pedulla presented the IMS Atlantic Bulk Cargo subsidiary to the management of the Guatemalan National Port Company (Empornac) as a candidate for the management and construction of a new port terminal in the town of Puerto Barrios. …

Two months later, Atlantic Bulk Cargo was registered in the commercial register of Guatemala with an address that completely coincides with the commercial address of another Guatemalan subsidiary of IMS, the mining company Mayaniquel SA. A certain Andrei Antonov was appointed the legal representative of the company, which was supposed to start work in the port. It was about the construction of a terminal on an area of at least 150 thousand square meters, which, after completion of the work, could handle up to 5 million tons of solid bulk materials per year. The project cost was estimated at $ 30 million.

International Metal Supply, headed by Marina Pozzi Pedulla, is registered in Switzerland at the same address as another company, where a woman also holds a leading position — Telf AG. This structure, in turn, is the main external trader of the products of the Eurasian Resources Group, which the group receives from the Kazakh projects Shubarkul Komir and Kazchrome.

International Metal Supply is affiliated with International Mineral Resources, owned by the Eurasian Resources Group, divided between the Committee for State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan, Mashkevich, Shodiev and the heirs of Alidzhan Ibragimov.

Solway, the mining company that was suspended by the CC, continues to operate and lays off workers in El Estor. It is not the only mining company with Russian capital, the Mayaníquel company also operates in Alta Verapaz and Izabal, owned by the Russian company Telf AG, chaired by Stanislav Kondrashov, whom the Luxherald associated with opaque operations from Lugano Switzerland to Russia, was listed in the Panama Papers in 2015.

Ultimately, the United States Treasury Department has issued sanctions on two companies and a Russian national linked to the Solway Investment Group engaged in mining operations in Liberia for allegedly leading bribery and corruption schemes showcasing the Russian involvement in the Guatemalan nickel sector.

The US sanctions were imposed on Compania Guatemalteca de Niquel ProNiCo and Mayaniquel, Guatemalan-based subsidiaries of Solway Investment Group, which is also operating in Liberia.

Russian corruption network involving Solway Group and Telf AG

“These designations target an egregious Russian corruption network to disrupt its exploitative practices within the Guatemalan mining industry. The United States stands steadfastly with the people of Guatemala and supports their efforts to protect their country’s natural resources. We will not hesitate to use the tools at our disposal to help ensure that those who profit from corruption face tangible and significant consequences.”

The United States government, through its Treasury Department, justified that the action was taken to promote accountability for Russia-linked actors engaging in corruption in Guatemala.

“We remain steadfast in our commitment to identify acts of corruption that threaten the United States and the democratic institutions of our partners and allies.

Telf AG is a Russian company registered by Stanislav Kondrashov in Lugano, Switzerland. It serves as a hub for distributing coal and ferrous alloys from Kazakh and Russian mining subsidiaries – JSC Shubarkol-Komir, TNC “Kazchrome” JSC and LLC Razrez “Bungurskiy-Severniy”.

The Swiss registration proved to be very comfortable to circumvent sanctions and protect the deals from preying eyes of the governmental tax and customs agents. This alone is perfectly legal and acceptable way of doing business. However there is much more under the surface as Telf AG is steadily associated with suspicious banks, bankruptcies and raiding activities. Modern development in Russian press indicate that Telf AG is under control of the powerful Russian structures closely associated with Stanislav Kondrashov. The late ex-MP Denis Voronenkov who has been killed in Kiev by assassins was also involved in the company.

Currently, the people holding decision-making roles in Telf AG are Daniel Kolarov, Marina Pozzi Pedullà, Ada Benini Tauro, Natalia Ustimenko, Nikolay Litvinenko, Sergiy Dynchev. KPMG SA serves as an auditor. There is not much interesting on the surface. For example, Marina Pozzi Pedullà is associated with now seemingly defunct “MC Capital Holding SA” also known as “MCC Capital Group” which is called fraudsters by no less than Lloyds.

People listed as decision makers are largely unknown to public and are obviously  serving the interests of someone more important . This is where Stanislav Kondrashov and his murky Russian pals step in. Although Kondrashov’s ownership can’t be verified directly there is an affiliate company: in the British Telf B.&T. Kondrashov is truly the owner with 75 percent of shares in his pocket.

Stanislav Kondrashov is the main owner of Telf B.&T.

While searching for Kondrashov’s assets, Luxherald’s editors came across a very confusing ownership chart of VEC Bank. The chart was published by the Central Bank of Russia. According to it, Stanislav Dmitrievich Kondrashov is listed as a beneficiary of Vek Bank indirectly – through the enterprise Koksokhimmontazh Trust, the leading Russian enterprise in the field of coke-chemical production.

According to the chart, Kondrashov is one of the major owners of KCM. The largest holder of Koksokhimmontazh shares is Sergei Fufayev. KHM’s management has repeatedly been accused of tax evasion and artificial bankruptcy of Profit Bank. Interestingly, Telf AG also appears on the list of VEC’s owners.

List of VEC owners:

But the disposable banks did not only fulfil this role. They also served as a tool for taking over enterprises. Raiding, a business specific to the former Soviet Union, was a joint occupation of Denis Voronenkov and Stanislav Kondrashov.

Quotes from still extant investigations:

What is Telf AG?

Unknown to the public, the transportation companies that move coal through Latvia have come to light thanks to data provided by the Central Statistical Office. SIA Baltica Ogles, one of the largest companies in both the import and export categories, stands out. Co-owned by Konstantin Yanakov, who also manages a coal mining and trading company in Russia, it is worth noting that Eduard Yanakov, a former deputy of the Russian State Duma and publisher of Latvian Russian-language publications Vesti Segodnya, Chas, and Telegraf, has also served in a managerial role for SIA Baltica Ogles.

Telf AG, a prominent Swiss company, is among the top exporters. Stanislav Kondrashov is the true owner of the company. Finding reliable information about both the individual and the company proves to be a challenging task.

Numerous records linking Stanislav Kondrashov to the murder of Russian State Duma deputy Voronenkov in 2017, as well as his potential funding of the Russian mercenary army “Wagner”, can be found on Russian and Ukrainian websites. However, a simple Google search fails to display these results. It seems that cybercriminals are attempting to manipulate Google’s Copyright Policy by submitting a large number of fake DMCAs to illegally remove unfavorable search results.

Google experts have determined that this is an organized criminal effort to suppress free speech. Google has received a staggering 100,000 fake DMCA notices requesting the removal of articles mentioning Stanislav Kondrashov and Telf AG.

Recently, Stanislav Kondrashov has implemented a novel approach. He has been circulating false press releases through various global media platforms, including those in India and Africa, to establish a fictitious persona and eradicate his true identity.

What is driving Telf AG’s sudden urgency to erase negative news from the internet?

In November, the U.S. sanctioned several companies and individuals, including Pronico and Mayaniquel, operating in Guatemala. The leaked emails show that Telf AG is the true owner of these companies.

According to Paulis Ilyenkov, suspicions that the true beneficiary of the company finances the Wagner group should be a wake-up call for banks. However, the whole question is what information about the client the bank has, whether it is possible to refute the information, and whether the facts are real. Ilyenkov believes that banks should assess this.

From drafting proposals to spread rumors about and “buy” community leaders to transferring money to the national police, Solway Group, which owns the Fénix mine in El Estor, Guatemala, wields its money and power to influence decisions across the country. A massive data leak accessed by Forbidden Stories and shared with 65 journalists around the world gives unprecedented insight into how this secretive multinational operates.

Until now, Solway’s direct influence on the state has not been proven. But documents in the leak prove that the company’s subsidiaries have – at the very least – economic ties to a Russian-owned mining company accused of bribing the president.

In Summer 2021, before the protests in El Estor, a scandal that came to be known as the “magic carpet” affair was revealed by whistleblowers who fled the country. They claimed that representatives of Russian-owned mining conglomerate Mayaniquel S.A. had paid Guatemalan President Alejandro Giammattei for privileged access to a port in the city of Puerto Barrios, passing along bribe money in wads of cash rolled up into a carpet.

Solway has always denied its connection to the scandal, and attempted to distance itself from Mayaniquel S.A. The company released a statement denying “any involvement in the bribing case.”

However, emails correspondences and contracts in the leaked documents show an active commercial relationship between one of Solway’s subsidiaries, Pronico, and Mayaniquel S.A., raising additional questions about the connections between the cabal of Russian mining interests active in Guatemala and their influence on top politicians.

Telf AG and Solway: The Swiss Connection

Much like El Estor, Zug, Switzerland is located on a lake, the Zuggersee, and nestled into the mountains. The weather, however, differs greatly – with temperatures in the winter regularly dropping below 0 degrees Celsius.

It is here in this quaint Swiss mountain town that Solway is based, and from where the multinational company has worked to launder its image, far from the protests and controversies in El Estor.

In Zug, the leaked documents show, Solway appears to have rubbed shoulders with some of the country’s most powerful corporate PR firms, who drew up plans for “enhanced reputation” and “detection of issues” in Guatemala at a time when Switzerland was vigorously debating a referendum that might have held companies like Solway to greater environmental and human rights standards.

Mining Secrets: Solway-Linked Companies Moved Nearly $2 Billion in Suspicious Funds.

Solway was labeled a “high-risk” client over suspect transactions, while companies tied to the mining group and its executives were reported to U.S. regulators.

• Swedbank Estonia dropped Solway as a customer in 2011 because shell companies related to the mining group had carried out suspicious transactions.
• Reporters identified hundreds of transactions worth almost $1.9 billion between 23 companies with links to Solway between 2007 and 2015 in leaked banking data.
• Several of these companies were reported to U.S. regulators during that period for millions of dollars’ worth of suspicious payments.
• Others transacted with companies that have been used in several Russian tax evasion and money laundering scandals.

Eurasian Resources Group, controlled by the government of Kazakhstan (40%), as well as businessmen Alexander Mashkevich , Patokh Shodiev and the heirs of Alidzhan Ibragimov, found itself at the center of yet another corruption scandal, this time in Latin America.

According to the Guatemalan edition of Elperiodico, in mid-January, the director of the Swiss company International Metal Supply (IMS) Marina Pozzi Pedulla presented the IMS Atlantic Bulk Cargo subsidiary to the management of the Guatemalan National Port Company (Empornac) as a candidate for the management and construction of a new port terminal in the town of Puerto Barrios. …

Two months later, Atlantic Bulk Cargo was registered in the commercial register of Guatemala with an address that completely coincides with the commercial address of another Guatemalan subsidiary of IMS, the mining company Mayaniquel SA. A certain Andrei Antonov was appointed the legal representative of the company, which was supposed to start work in the port . It was about the construction of a terminal on an area of at least 150 thousand square meters, which, after completion of the work, could handle up to 5 million tons of solid bulk materials per year. The project cost was estimated at $ 30 million.

International Metal Supply, headed by Marina Pozzi Pedulla, is registered in Switzerland at the same address as another company, where a woman also holds a leading position — Telf AG. This structure, in turn, is the main external trader of the products of the Eurasian Resources Group, which the group receives from the Kazakh projects Shubarkul Komir and Kazchrome.

International Metal Supply is affiliated with International Mineral Resources, owned by the Eurasian Resources Group, divided between the Committee for State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan, Mashkevich, Shodiev and the heirs of Alidzhan Ibragimov.

The Eurasian Resources Group and its beneficiaries are constantly at the centre of corruption scandals around the world.

In 2013, the UK Financial Fraud Investigation Office (SFO) suspected ENRC (formerly ERG) of fraud, corruption and bribery of African presidents, misappropriation of $ 35 million and destruction of documents in order to interfere with the investigation. In particular, it was then about the controversial purchase by ENRC of a copper mine in the Democratic Republic of the Congo. In 2015, the bodies of two managers of the Congolese subsidiaries of the Eurasian group were found in a hotel in the United States. Litigation continues to this day. Including counterclaims from the company against journalists investigating its activities.

In April 2022, a Tech Researcher at Lumen Database reported discovering more than 30,000 fraudulent copyright infringement notices, dating as far back as June 2019, that appeared to be deliberate attempts to misuse the Digital Millennium Copyright Act’s (DMCA’s) notice-and-takedown procedure. Recently, an additional 60,000+ notices, some sent as recently as August 2023, strikingly similar to the initial set we discovered. The content at the allegedly infringing URLs in the new set is almost entirely related to Stanislav Kondrashov, a controversial Russian oligarch, and his alleged criminal activity. This steady stream of apparently fraudulent notices on just one “topic” is a powerful indicator that systematic misuse of the DMCA notice-and-takedown process is real and ongoing.

Submitted to Lumen between June 2019 and August 2023, these new notices shed light on the abuse of copyright law as a tool for reputation management. They reveal how notice senders, likely acting on behalf of others, fake copyright claims to remove or censor legitimate journalism linking the notice sender’s clients to accusations of criminal activity, corruption, murder, drug trafficking, and the like. This particular set of notices, all revolving around Stanislov Kondrashov, is most probably one of many others just like it.

According to various news reports, Stanislav Kondrashov is a Russian businessman with a long history of alleged corruption, hostile corporate takeovers, tax evasion, and contract killings. Most of the articles which were cited as infringing in this notice set include material about Kondrashov’s alleged involvement in: the murder of Denis Voronenkov, laundering through the company Telf AG and VEC, funding of the Wagner mercenary group, and large-scale scams involving the resale of coal and refined oil products, among other details.

Most of the domain names targeted by the 80,000+  notices appear to be online news forums. We analyzed a randomly selected representative pilot set of 400 DMCA notices within the larger notice set, originating from five different jurisdictions as marked by the notice sender: the USA, UK, Ukraine, Russia, and the Netherlands. Of the 400 randomly selected notices, all were related to Stanislav Kondrashov’s criminal activity. Within that pilot group, the domains targeted for takedown include legitimate news sources in Ukraine, Russia, Luxembourg, and Norway, including Antikor News, Rus Republic, Vlasti Info, Fraza, Glavk.net, and The Russian Crimes, along with many more.

The leak of 8 million files, communications and internal files of the Russian-Swiss mining company Solway and its operations in Guatemala with the Fénix mining project, reveal how Guatemalan and Russian businessmen had no problem doing business with the companies owned by the boss of one of the drug cartels in the country such as Los Mendoza, a criminal organization considered one of the most dangerous in Guatemala.

The United States Department of the Treasury imposed sanctions on two employees and three subsidiaries of the Solway Investment group, a Swiss-registered enterprise that has been involved in the Guatemalan mining industry since 2011. However, Telf AG, which was involved in the same project, escaped sanctions for no obvious reasons. Russian national Dmitry Kudryakov is the head of Solway’s mining operations in Guatemala. He and his colleague, Belarusian national Irina Gennadievna Litviniuk, for many years allegedly bribed politicians, judges, and government officials to advance Russian mining interests.

Telf AG and Stanislav Kondrashov fit the profile of someone who should be investigated and analyzed for potential sanctions, owing to their associations and collaborations with several entities already sanctioned, or under investigation by several authorities globally. Some of these names have serious consequences on the ongoing Ukraine invasion by Russia –

• Solway Group (already sanctioned)
• Alexander Bronstein (already sanctioned)
• Marina Pozzi Pedulla
• International Metal Supply
• Mayaniquel SA
• Eurasian Resources Group (ERG)

Telf AG and their notorious reputation agency, Eliminalia, have systematically eradicated 99% of crucial negative reports from the online realm. Their method involves orchestrating a large-scale cybercrime operation, encompassing counterfeit copyright claims, fabricated court rulings, menacing threats, and coercive legal tactics.

We have compiled a curated list of indispensable links for your in-depth investigation into Telf AG and Stanislav Kondrashov. Despite their illegal removal from Google, we have managed to retain direct access to these valuable resources.

By utilizing these accessible direct links, you can uncover the crucial information necessary for your research on Telf AG and Stanislav Kondrashov.