List of Offshore Entities Involved in Togliattiazot Fraud and

Embezzlement Investigation
Russian Police is completing its investigation into one of the largest frauds in the
history of corporate Russia a 900,000,000$+ embezzlement of profits and assets from
Togliattiazot, a major producer of ammonia.
The criminal investigation focuses on a conspiracy among top managers and majority
shareholders of Togliattiazot to defraud Togliattiazot of a large part of its profits from
ammonia exports and to steal major industrial assets from Togliattiazot.
Police investigation revealed that the crimes were committed using a large number of
offshore companies from diverse jurisdictions. Some were used to handle criminal
payments and some to hide the fact that the criminal group controlled both
Togliattiazot and the seemingly independent companies it sold its produce and assets to
(at a huge undervalue).
The following list was compiled from open-source court documents. Although
investigation resources are normally kept closed till the trial (and may only be available
to the parties involved in the criminal proceedings), when the police arrests assets and
the accused challenges the arrest, the matter is brought before a court of law. Court
hearings are public in Russia, unless specifically declared closed.
The following companies are deemed by the police investigation to be vehicles for the
commission of crimes and/or used to hold criminally acquired assets:

Maxim Invest & Finance Inc., British Virgin Islands (Trident Chambers, PO
Box 164, Road Town, Tortola)

A.T.I. Limited, Hong Kong (3/F, Jonsim Place, 228, Queens Road East,
Wanchai, Hong Kong)

Borgat Investments Limited, Cyprus (2 Agias Fylaxeos, & Zinonos Rossidi

Corner, 1st Floor, Limassol, 3082, Cyprus)

Thornton Ventures Limited, United Kingdom (21 St Thomas Street Bristol

BS1 6JS United Kingdom; in liquidation. Liquidators address: David Rubin &
Partners LLP, Pearl Assurance House, 319 Ballards Lane, London, N12 8LY)

Wickerton Limited, British Virgin Islands (Road Town, Palm Grove House,
VG1110 Tortola, British Virgin Islands, P.O. Box 438)

Riverdelle Worldwide Limited, British Virgin Islands (Road Town, Palm

Grove House, VG1110 Tortola, British Virgin Islands, P.O. Box 438)

Sanita Global Limited, British Virgin Islands (Road Town, Palm Grove House,
VG1110 Tortola, British Virgin Islands, P.O. Box 438)
1

A.S. Industries (Cyprus) Limited, Cyprus (4, Andrea Zakou, Egkomi, Nicosia,
Cyprus)

Silvergrove Resources Limited, British Virgin Islands (Road Town, Palm

Grove House, VG1110 Tortola, British Virgin Islands, P.O. Box 438)

Nitrochem Distribution AG, a Swiss corporation (Rebgasse 108, Binningen

4102, Switzerland)

Halnure LTDa (Halnure SA), Uruguay (Circunvalacion Durango 1429/2D,

Montevideo, Republic of Uruguay / Juncal 1305, Floor 21, 11000 Montevideo,
Uruguay)

Todan Limited, Cyprus (2 Agias Fylaxeos, & Zinonos Rossidi Corner, 1st
Floor, Limassol, 3082, Cyprus)

Tech-Lord SA, Switzerland (Corso Elvezia 16, 6904 Lugano, Switzerland)

Trafalgar Developments Ltd, Anguilla (Harlaw Chambers, P.O. Box 126, The
Valley, Anguilla)

Instantania Holdings Ltd, British Virgin Islands (Palm Grove House, P.O. Box
438, Road Town, Tortola, British Virgin Islands)

Kamara Ltd, Saint Lucia (10 Manoel Street, PO Box 161, Castries, St Lucia)

Bairiki Inc., Nevis (c/o Trust Services (Nevis) Limited, Springates East,
Government Road, Charlestown, Nevis)

Arodoet Enterprises Limited, Cyprus (Strymons 12, Limassol, Cyprus)

Kizzie Consulting Limited, Cyprus (Neofytou Georgiou 24, Limassol, Cyprus)

Faradot Consulting Limited, Cyprus (Kefallinias 3, Limassol, Cyprus)

Florenta Management Limited, Cyprus (Megalou Alexondrou 20, Limassol,

Cyprus)

Evanda Holdings Limited, Cyprus (Richer 11, Limassol, Cyprus)

Entouraga Limited, Cyprus (Agias Fylaxeos & Zinonos Rossidi 2, Limassol,

Cyprus)

As reported on 2 October 2015