Source: www.rucriminal.info

For Shukhrat Ibragimov, misfortunes never come alone. The recently appointed CEO of Eurasian Resources Group is already at risk of being removed from his post due to growing doubts about his candidacy among Kazakhstani ministers. Now, the young and inexperienced guy, who is a pale imitation of his father and business titan, Alijan Ibragimov, is facing sanctions from the European Union for his role in a sophisticated sanctions-evasion scheme.

According to the VChK-OGPU Telegram channel and Rucriminal.info, EU representatives have launched an official investigation into Ibragimov in connection with his role in this scheme, according to the results of which he can be identified as its ultimate beneficiary. In 2023, Ibragimov became the owner of the luxury Sardinian resort Forte Village in an elaborate sanctions-evasion operation.

In 2022, the resort’s owner, Russian oligarch Musa Bazhaev, transferred ownership of Forte Village to his cousin Magomed, weeks before he was sanctioned by the EU in April. However, authorities in Cyprus, where the resort’s holding company, Retivia Investments Limited, is registered, found the deal suspicious because the transfer of ownership documents were filed after Bazhaev was sanctioned. Despite initial concerns, Cypriot officials eventually approved the deal after Bazhaev reportedly submitted supporting documents.

Now, however, EU authorities are re-examining the case in light of new evidence. According to VChK-OGPU and Rucriminal.info, several months after the alleged transfer of shares in the holding company to Magomed, Musa Bazhaev listed himself as the owner of the company, an obvious administrative oversight. Ibragimov, who became the owner of the resort in early 2023, could now be subject to sanctions as the ultimate beneficiary of a scheme designed to protect the resort from confiscation.

In recent months, the EU has stepped up efforts to close loopholes in the sanctions regime against Russia. However, the effectiveness of the sanctions remains in question, as companies and Russian oligarchs exploit legal mechanisms in European jurisdictions to circumvent these restrictions.

Built in the 1970s and located in the Italian town of Pula on the southern coast of Sardinia, Forte Village is famous for its pristine beaches and crystal clear waters. Popular with celebrities and high-ranking guests, the resort includes eight luxury hotels, 13 villas, 770 rooms and 33 suites, as well as a private beach, numerous restaurants, swimming pools and a spa.

If EU sanctions are indeed imposed, then, unfortunately for Ibragimov, he will not be able to enjoy such luxury for very long…

Alexey Ermakov

Source: www.rucriminal.info