Russian biznesmen and close friend of the President Gennady Timchenko, came under Western sanctions, parted with a few assets, among which 12.5% stake in insurance company SOGAZ, founded as a “daughter” of “Gazprom”. This happened in 2014, but the owner refused to call the names of those who got promotions. However, the journalists “the New newspaper” found that the asset went to the daughter Timchenko Xenia Frank.

The newspaper reminds that earlier the management Board of SOGAZ said that Timchenko sold his share in 2014, with whom she went was not reported. In the SOGAZ is also not disclosed. Timchenko was keeping it a secret, explaining why not pass some of their assets to children, in an interview with TASS, Timchenko said: “do Not leave your children too much. You must correctly educate them, to give a quality education, and then – you”.

Now the “Novaya Gazeta” wrote that the beneficiary was the daughter of Gennady Timchenko. The share of SOGAZ belonged to the firm “a chunk of Cordex”, which was previously controlled by Timchenko. After he disposed of the shares in the insurer, firm “a chunk of Cordex,” was reorganized to JSC and, according to Rosstat, did not disclose the information about founders.

The edition specifies that to open up the SOGAZ helped “daughter” of “Transneft”, JSC “TNN” from Chelyabinsk. In 2016, SOGAZ won the tender for insurance of its assets. Journalists managed to get acquainted with the Annex to the tender documentation. The documents said that “a chunk of Cordex,” owns NAO “RSC-invest”, created in July 2015, and they, in turn, Xenia Frank.

How many daughter Timchenko cost purchase 12.5% of SOGAZ, it is difficult to say, but in the financial statements “RSK invest” refers to the long-term commitment by 23.23 billion rubles in 2015. This is the only significant figure appearing in the financial statements of the company in the SPARK notes edition.

Ksenia Frank used to do charity projects of the Swiss Timchenko Foundation Neva. She owns a house on lake Geneva near the house of the father. Frank married Gleb Frank, the son of the General Director of the state shipping company “Sovcomflot” Sergey Frank. In 2014, disposing of assets, Timchenko sold to Frank Jr. 30% of the company “Russian sea”, which sells seafood, reminds journalists.

Last year, the Western media wrotethat SOGAZ is a vivid example of how Russian businessmen placed under sanctions, for business development resell their assets to relatives or just close friends, thus indirectly having the opportunity to influence their companies.



“Novaya Gazeta”: Timchenko sanctions had to transfer the shares of SOGAZ his daughter 17.11.2016

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