Developer of Sochi residential complex in trouble with law
Vyacheslav Semenduev allegedly withdrew money aimed at the construction of a residential complex in Sochi.
The Moscow Central AD Department of the Ministry of Internal Affairs launched an investigation into a $5-million theft committed while developing Krasnaya Ploschad (the Russian for “Red Square”) residential complex in Sochi. Vyacheslav Semenduev’s Newland Company was implementing the project. According to Rosbalt, a criminal case has been filed under Article Swindling committed by an organized group on an especially large scale (part 4, Article 159 of the Criminal Code of the Russian Federation).
Krasnaya Ploschad residential complex in Sochi
Newland had been attracting investors and one of them gave the company a target loan of $5.3 million in 2010. The money was intended solely to compensate for Krasnaya Ploschad construction works. However, according to the investigators, all the funds were going to Semenduev’s personal account in Loko-bank through fictitious contracts with Interstroy LLC and Eldorado M OJSC, as well as to accounts of firms run by persons associated with the businessman. After that, the money was withdrawn.
The complex had to be completed back in 2009, yet the works were suspended at some point. In addition, the company was going to build a multifunctional complex called Sochi City where Chaika hotel had been. The lease agreements for the multifunctional complex were signed in 2008. The estimated investments were to reach $380 million, and the works were to be completed by 2011. Then, First Czech-Russian Bank (FCRB) claimed about 800 million rubles ($13.7m) from Newland and Krasnaya Ploshchad LLC in 2011. The bank had given them the money as a loan. However, Semenduev’s affiliated companies stopped servicing the loan because of some problems with the city administration and the project that had been put on hold. Eventually, Krasnaya Ploschad was completed in 2014.
Zhasmin (singer) and Semenduev
Apart from development projects in Sochi, Semenduev is also known as Moscow restaurateur: he owns Eldorado restaurant and La Gurme restaurant. He is known to the general public as the ex-husband of Zhasmin, a singer who divorced him in 2006. There was a criminal case over the whole story as the singer had claimed that Semenduev would beat her. Later the charges were dropped upon mutual agreement of the parties.
According to sources close to the Prosecutor’s Office of the Noginsk District of the Moscow Region, law enforcement authorities have recently launched an inquest against 27-year-old Anton Manegin, co-owner of Timokhovo landfill site and son of its General Director Konstantin Manegin, on suspicion of complicity in siphoning off funds via a network of contractors.
Private Security Company (PSC) Graps-2, whose employees provoked a conflict with the guards of billionaire Gavril Yushvaev in Moscow City, is managed by the second co-owner of Oko tower, Vladislav Doronin.
Lawyer Damir Gainutdinov from Agora asks for recommendation to the Russian Federation Government "to refrain from expanding the practice of arbitrary interference in the right to freedom of expression, privacy and anonymity, including online."