Russian Oligarchs involved in Game Betting in Sochi – Swiss Bank Accounts Blocked in Geneva

Alimzhan Tokhtakhounov and his entourage of oligarchs have bank accounts blocked in Geneva for an amount of 15 million USD. Accusations are pending for having manipulated sports events in Sochi.

Alimzhan Tokhtakhounov, nicknamed “Taiwanchik” (“the small Taiwanese”) is a fugitive which is prosecuted in the USA and listed by the FBI in the list of the World’s 10 Most Wanted and searched by Interpol. Based on the request for international legal assistance filed by the State Attorney of the Southern District of New York Preet Bharara the US Department of Justice seeks prosecution and Switzerland investigates since April 2013. The Swiss Federal Prosecutor frizzed a bank account with USD 15 million in Geneva. In the last week of January 2014 a request to release the bank account was fully rejected by the Swiss Federal Court in Bellinzona, Switzerland.

Sochi considered as hot spot for organized crime?

Sochi was the most expensive Olympic Winter Games ever seen in the world. It is also an event of oligarchs who built much of the infrastructure of Sochi. There are some important businessmen and sports officials with best contacts to the criminal underground organizations in Russia. Sochi is considered to be a hot spot for the organized crime. The fear of Olympic Committee (IOC) in reference to betting manipulations is great. Traces of suspect criminal activities of Taiwanchik’s accomplices lead to Switzerland. In Russia Taiwanchik is best connected to sport officials and IOC Member Shamil Tarpischew and a former professional tennis player Yevgeny Kafelnikov.



Swiss investigation for money laundering, conspiracy and organized crime
- But no formal accusation in Switzerland

The beginning of Swiss investigations for money laundering, conspiracy and organized crime was based upon a criminal investigation initiated in the in United States. The prosecutor in charge Preet Bharara has brought charges against 33 alleged accomplices of Tokhtakhounov. Bharara is well known in the case against Bank Wegelin in connection with the Swiss and US tax dispute, which ended in the immediate shot down of the bank’s commercial activities in 2012.

Bharara accuses the 34 defendants for numerous violations around illegal gambling,
money laundering, organized crime and conspiracy. Taiwanchik is referred as a member of the highest criminal hierarchy level of an Ex-Soviet Union organization, which handled funds hold in trust for other criminals. It is said that he uses his authority and influence to protect and settle disputes between criminal organizations.
In his capacity as a mediator Taiwanchik is supposed to cover illegal sports betting in the amount of millions. In December 2011 he became USD 10 million for having protected illegal activities of Ukranian and Russian oligarchs. Taiwanchik denies any involvement in that kind of illegal activity.

Manipulation during the 2002 Olympic Winter Games in Salt Lake City

Taiwanchik is not suspected for the first time by the U.S. Department of Justice. He was suspected at the former Olympic Winter Games in Salt Lake City in having manipulated the ice dance competition 2002. It is said to have helped the French team to victory in order obtain his residence permit in France in return.
Meanwhile, he lives close to proximity to the Kremlin in Moscow.
The Swiss Federal Prosecutor's Office is investigating around an alleged accomplice Taiwanchiks, Hillel Nahmad. He runs an art gallery on Madison Avenue in New York's Upper East Side. In the course of its investigations the Swiss Federal Prosecutor’s Office has frozen an account of Nahmads father, David. In vain he is trying with a procedure before the Swiss Federal Criminal Court to release his frozen assets.

Taiwanchik has an impeccable reputation in Russia

On a pure formal level Taiwanchik is not accused by the Swiss authorities.
At present no further information is available on the ongoing investigation. This was released by Jeannette Balmer, the speaker of the Swiss Federal Prosecutor’s Office, in order to avoid any influence on the pending investigation.

Taiwanchik is living a relaxed life in Russia taking advantage from his still impeccable reputation in Russia. He has a villa in Sochi. A US journalist from ABS News asked him if he will visit and watch the Olympic Games in Sochi. He said that’s still too cold in Sochi and he prefers watching the games on his TV at home.

There are more interesting articles and news on the website of the editor of this article Enzo Caputo www.swiss-banking-lawyers.com

Zurich, 26 February 2014