FIMACO
Encyclopedia
Financial Management Company Ltd (FIMACO) was a Jersey
company founded in 1990.
In a 1991 report, former KGB Colonel Leonid Veselovsky, whose responsibility was to manage Communist Party commercial affairs overseas, told that he had found ways to funnel party money abroad. The stated goal was to ensure the financial well-being of party leaders after they lost power.
Large amounts of state assets were transferred through this company. One estimate is about US$50 billion.
The people with access to FIMACO included senior officers of the Communist Party
, Komsomol
, state banks, KGB
, and the military.
A 1993 document signed by a senior deputy to Viktor Gerashchenko
, the head of the Central Bank, forbid disclosure of transfers to FIMACO: "The balance of the investment account of the [Central Bank] in FIMACO shouldn't be disclosed on the balance sheet of the bank."
FIMACO's existence was disclosed by Russia's chief prosecutor Yuri Skuratov in February 1999. Soon afterwards, FSB chief Vladimir Putin
attacked Skuratov with a campaign which included a video where Skuratov allegedly has sex.
Russian officials claimed that it was 100% owned by the state-owned Banque Commerciale pour l’Europe du Nord, but never provided any proof according to a Newsweek article in March 1999.
According to Sergei Tretyakov
, KGB
chief Vladimir Kryuchkov
sent US$50 billion worth of funds of the Communist Party to an unknown location in the lead up to the collapse of the USSR.
Jersey
Jersey, officially the Bailiwick of Jersey is a British Crown Dependency off the coast of Normandy, France. As well as the island of Jersey itself, the bailiwick includes two groups of small islands that are no longer permanently inhabited, the Minquiers and Écréhous, and the Pierres de Lecq and...
company founded in 1990.
In a 1991 report, former KGB Colonel Leonid Veselovsky, whose responsibility was to manage Communist Party commercial affairs overseas, told that he had found ways to funnel party money abroad. The stated goal was to ensure the financial well-being of party leaders after they lost power.
Large amounts of state assets were transferred through this company. One estimate is about US$50 billion.
The people with access to FIMACO included senior officers of the Communist Party
Communist Party of the Soviet Union
The Communist Party of the Soviet Union was the only legal, ruling political party in the Soviet Union and one of the largest communist organizations in the world...
, Komsomol
Komsomol
The Communist Union of Youth , usually known as Komsomol , was the youth division of the Communist Party of the Soviet Union. The Komsomol in its earliest form was established in urban centers in 1918. During the early years, it was a Russian organization, known as the Russian Communist Union of...
, state banks, KGB
KGB
The KGB was the commonly used acronym for the . It was the national security agency of the Soviet Union from 1954 until 1991, and was the premier internal security, intelligence, and secret police organization during that time.The State Security Agency of the Republic of Belarus currently uses the...
, and the military.
A 1993 document signed by a senior deputy to Viktor Gerashchenko
Viktor Gerashchenko
Viktor Vladimirovich Gerashchenko , byname Gerakl , was the Chairman of the Soviet and then Russian Central Bank during much of the Perestroika and post-Perestroika periods....
, the head of the Central Bank, forbid disclosure of transfers to FIMACO: "The balance of the investment account of the [Central Bank] in FIMACO shouldn't be disclosed on the balance sheet of the bank."
FIMACO's existence was disclosed by Russia's chief prosecutor Yuri Skuratov in February 1999. Soon afterwards, FSB chief Vladimir Putin
Vladimir Putin
Vladimir Vladimirovich Putin served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when...
attacked Skuratov with a campaign which included a video where Skuratov allegedly has sex.
Russian officials claimed that it was 100% owned by the state-owned Banque Commerciale pour l’Europe du Nord, but never provided any proof according to a Newsweek article in March 1999.
According to Sergei Tretyakov
Sergei Tretyakov (intelligence officer)
Colonel Sergei Tretyakov was a Russian SVR officer who defected to the United States in October 2000.-Biography:...
, KGB
KGB
The KGB was the commonly used acronym for the . It was the national security agency of the Soviet Union from 1954 until 1991, and was the premier internal security, intelligence, and secret police organization during that time.The State Security Agency of the Republic of Belarus currently uses the...
chief Vladimir Kryuchkov
Vladimir Kryuchkov
Vladimir Alexandrovich Kryuchkov was a former Soviet politician and Communist Party member, having been in the organization from 1944 until he was dismissed in 1991...
sent US$50 billion worth of funds of the Communist Party to an unknown location in the lead up to the collapse of the USSR.
External links
- Secrecy by Kremlin Financial Czars Raises Eyebrows New York Times July 30, 1999
- Follow The Money - The Latest Kremlin Scandal Involves Billions Of Dollars Moving Offshore--Plus Sex And Videotape. Newsweek Mar 29, 1999
- Putin's Russia: A confusing notion of corruption Virginie Coulloudon July 2003