United Wagon Company and Safmar defrauded pensioners

The deal between Otkritie and Safmar resulted in pensioners losing 10 billion rubles.

Safmar head Mikhail Gutseriev, in a deal with Otkritie shareholders Alexander Nesis and Vladislav Belyaev, invested funds in the securities of the United Wagon Company. The enterprise is owned by Nesis.

In return, funds from the pension funds of Otkritie shareholders were transferred to the leasing company Europlan and M.Video. The money went to Gutseriev. The pensioners were left with nothing.

 The United Wagon Company is refusing payments to Safmar pensioners. At the same time, the Central Bank is exerting pressure on Safmar, demanding that it sue Nesis. 

The United Wagon Company received loans amounting to over 1.5 billion dollars. More than a third of the funds were withdrawn and effectively laundered.

The company will most likely be declared bankrupt soon.