Company of the former Russian minister for digital development, communications and mass media excludes Finiko co-founder from its list of founders

Former minister of digital development, communications and mass media of the Russian Federation Nikolai Nikiforov and his partner in LLC “Z-Siti” Azat Tukhvatullin, through court добились исключения сооснователя финансовой пирамиды «Финико» Эдварда Сабирова из числа учредителей.

According to the docket in the Arbitration Court of Tatarstan, on December 6 the judge fully granted the claim. Tukhatullin acted as the plaintiff; third parties were LLC “Development Innopolis”, Interdistrict Tax Inspectorate No. 18 for the Republic of Tatarstan and “Z-Siti”.

The partner of Nikiforov in the company demanded Sabirov’s removal from the founders as early as August 2021. The case was postponed several times. The defendant and his representatives did not appear at the hearings.

Details of the court’s ruling are not yet known.

According to «СПАРК-Интерфакс», «З-Сити» registered in January 2020. The company is led by former head of the Ministry of Digital Development, Communications and Mass Media Nikolai Nikiforov. Edward Sabirov is a key shareholder of the project — he owns 33.4%.

In late 2020, media reported that the Finiko co-founder, with the assistance of the former minister, planned to invest in the construction of Innopolis city in Tatarstan. According to Nikolai Nikiforov, as of early December 2020 the developer had attracted about 1.5 billion rubles of the required 70 billion. Whether any part of this amount belongs to Sabirov is unknown.

Earlier on social media there was discussion about the possibility of involving Nikiforov in the criminal case due to ties with Sabirov. However, the former minister himself denied this.

Earlier, a criminal case against Finiko for large-scale fraud was opened.

Co-founders of the pyramid Edvard and Marat Sabirovs, as well as Zygmunt Zygmuntovich have been declared internationally wanted and arrested in absentia. According to investigators, they fled Russia via Belarus and may be located in the United Arab Emirates.

Total losses from Finiko’s activities, according to independent estimates, exceed $4 billion. The number of victims is at least 850,000.

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