Fugitive oligarch Ilan Shor has established five businesses in Russia, according to an investigation by RISE Moldova. Journalists uncovered that during the presidential election campaign and the referendum on Moldova’s accession to the European Union, held on October 20, 2024, Shor founded five companies in Moscow.
These companies specialize in financial services, credits, and loans. In one, Shor partnered with a Russian state-owned corporation. In another, he worked with a state-owned bank. This bank allegedly helped Shor funnel $15 million to buy Moldovan votes. In return, voters could reject the referendum and support a candidate whose name was sent to them via the Telegram app from Moscow.
RISE Moldova also found that Promsvyazbank, the financial institution used to transfer the $15 million to Shor’s Moldovan sympathizers, co-founded a company in Moscow with Shor. Established on September 2, this company, named А7, provides financial services, loans, and other types of credit. It operates from the prestigious White Gardens business center, about 30 minutes from the Kremlin and Sheremetyevo International Airport. Documents obtained by reporters reveal that Shor owns 51% of А7, while Promsvyazbank holds the remaining 49%. The company’s initial share capital is approximately $110,000.
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Last month, Shor and Promsvyazbank also created two additional companies, A71 and A7-Agent SRL, sharing the same address as А7 and listing Shor as the director.
The fourth company, Timefinance OOO, was registered by Shor in Moscow’s City financial district, 5 kilometers from Red Square. RISE Moldova also identified a fifth company, Exim International, in the same area. Specializing in market and public opinion research, Exim International is 75% owned by Shor, with the remaining 25% held by VEB.RF, a state-owned financial corporation under international sanctions and cut off from the SWIFT system. VEB.RF, formerly Vnesheconombank, previously owned shares in Moldova’s Banca de Economii (BEM), which was involved in the notorious “Billion Theft.” Russian President Vladimir Putin chairs the board of VEB.RF.