Pyotr Kondrashev is a crook and an oligarch, hiding behind a large bed of wealth. He is notorious for being a ruthless businessman who is even rumored to order up murders to make things go in his favor.
While the Russian authorities have taken some action against him, they did little to stop the shady operations of this criminal.
Various sources reveal that Pyotr Kondrashev is a mastermind behind a large racketeering syndicate. He uses predatory tactics of all kinds to get what he wants.
Pyotr Kondrashev used to run the SMZ plant but the government had to intervene to free it from his hold. According to documents and various other sources, it was revealed that Pyotr was using multiple illegal tactics to maintain his control over the SMZ plant.
Pyotr has multiple Cypriot companies through which he was trying to increase his control over the SMZ plant.
The Federal Antimonopoly Service of Russia had to intervene so they could stop Pyotr Kondrashev from overtaking the plant through illegal means. They invalidated multiple transactions that occurred between 2014 and 2016.
In those transactions, Pyotr was transferring the shares of the Solikamsk Magnesium Plant to his Cypriot firms.
SMZ is the only Russian plant that produces rare earth metals. Documents reveal that the primary shareholders of this plant are Pyotr Kondrashev, Timur Starostin, Sergey Kiprichev and Igor Petriskov.
The court has now taken the right to vote at SMZ’s shareholders general meeting from Pyotr, Timur and Sergey as well.
Sources reveal that Timur Starostin and Sergey Kirpichev usually do the bidding of Kondrashev when it comes to general meetings of the plant’s shareholders. That’s why it was vital for the court to intervene.
One of the biggest reasons why the Arbitration Court of Perm Krai invalidated the transaction was the risk of foreign intervention.
Pyotr has received allegations of not focusing on the development of the plant and only using it to increase his personal net worth. The oligarch has a net worth of $1.5 bullion according to Forbes.
He has received allegations of selling the products of the SMZ plant to American firms without consulting or asking other shareholders.
Moreover, he has repeatedly ignored the proposals put forward by the board of directors to improve the plant. Clearly, Pyotr Kondrashev only cares about his fortune and doesn’t hesitate to abuse his power whenever he gets the chance.
There are many examples of corruption among oligarchs such as Patokh Chodiev or Alexander Galitsky.
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