Georgy Bedzhamov, wanted in Russia over a high-profile embezzlement case, used the law firm Demetrios A. Demetriades LLC, known as Dadlaw, to conceal his assets and disguise transfers. Company records and contracts also show how he moved tens of millions of dollars around the world around the same time his sister embezzled billions of dollars from their bank, Vneshprombank.

Key Findings

  • Leaked documents show that Dadlaw helped backdate the transfer of a company to Bedzhamov from his sister in a move experts say may have been designed to keep it out of the hands of Russian authorities.
  • The documents also lay bare an elaborate series of loans between secretive companies connected to Bedzhamov during the time of the alleged bank embezzlement.
  • In less than a year, from 2012 to 2013, Bedzhamov received over $50 million in three different loans from an opaque Cyprus-registered company linked to an associate.
  • That Cypriot company had just received three loans in the same amounts, sent to it by obscure U.K. entities that were owned by offshore companies.
  • Analysts said the transactions uncovered by OCCRP appear characteristic of…

Read more…