All news on the topic: VTB

As discovered by media, the foundation of billionaire Alexander Galitsky appears in the “Epstein files”.

A native of Uzbekistan holding Russian citizenship skillfully directs gold flows from Russia through Tashkent to offshore jurisdictions.

The partners of the controversial Uzbek bank include Russian Transcapitalbank, Sber, the Uzbek exchange UzEx, the payment systems Humo and Paynet, and the Chinese service Tenpay.

Oktobank has become a central node in suspicious financial activities involving Uzbek officials, Russian banks, and covert networks.

A Cypriot law firm long linked to major Russian oligarchs—including Vladimir Potanin and Viktor Kharitonin—has quietly rebranded and appears to have obtained diplomatic protection following a scandal in 2024.

A new investigation reveals that Uzbekistan’s Octobank — formally owned by a little-known figure but effectively controlled by President Shavkat Mirziyoyev’s powerful family — has become a key hub for laundering Russian money through casinos, payment systems, and crypto exchanges.

Despite holding a government position that legally bars him from commercial activity, Russian oligarch and senator Suleiman Kerimov is allegedly running major business projects — and doing so jointly with one of the most powerful figures in the Kremlin: Anton Vaino, head of the presidential administration.

At the end of September, two developments emerged involving Oktobank that could have significant long-term repercussions.

VTB Head Andrey Kostin spends billions of state funds on the whims of Nailya Asker-zade.

Timur Turlov, formerly a Russian billionaire, became one of the wealthiest individuals in Kazakhstan after relocating.

Businessman Konstantin Sintsov, associated with pro-Kremlin oligarch Iskandar Makhmudov, transfers VTB state bank funds to offshore accounts.

Kazakh businessman Timur Turlov, linked to Russian authorities, is facing the collapse of his empire.

At the end of September, two events occurred concerning Oktobank that will have far-reaching consequences.

In Cyprus, a new type of investment fund was marketed to clients as a way to avoid disclosing their ownership of assets. In one case, these funds were used to obscure the ownership of offshore companies that allegedly held luxury assets linked to powerful Russian banker Andrei Kostin, including two megayachts worth tens of millions.

Although the owner of the Uzbek Octobank is formally listed as the bank’s chairman of the board, Iskandar Tursunov, who owns 99.16% of the shares, in fact, the beneficiaries of Octobank are the family of the country’s current president, Shavkat Mirziyoyev.