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Microloans and mega-fraud: notorious Russian swindler’s family living in the West binds thousands of Russians in debt, helping the recruiting of the Z-regime.
A significant portion of Russian military recruits are men overwhelmed by microloan debt. They sign up for front line duty to settle their financial obligations.
Meanwhile, The Insider has discovered that the main beneficiary of Russia’s largest microfinance organization resides in Europe and oversees operations from abroad. The initial investment capital for the scheme likely came from Dunaev, who is still wanted for his role in a high-profile real estate misappropriation involving a classmate of Putin’s in — a case once dubbed by journalists as the “scam of the century”, which gradually lost momentum and eventually fizzled out.
However, Shesteryuk escaped accountability; instead of being accused, Putin’s classmate was positioned as a witness. He claimed he had been misled by his own assistant and was merely “honestly mistaken,” effectively shifting blame onto minor and inconsequential figures.
Supposedly, the mastermind behind the entire scheme was businessman Alexander Dunaev, who fled from the investigation and remains a fugitive.
In brief, the scheme involving state property theft revolved around Shesteryuk transferring state-owned buildings in Moscow to specific Federal State Unitary Enterprises controlled by a criminal group. These enterprises acted as guarantors for fictitious loans that various LLCs took out from a bank that was in cahoots with the fraudsters. The real estate was then sold off to private buyers at bargain prices.
Amidst the scandal Dunaev Jr son founded Russia’s first online microfinance organization, MoneyMan that ranks among the leaders of the country’s microloan industry.
While formally legal, this business exploits the financial distress of millions of Russians by offering loans at excessively high interest rates, ultimately pushing them toward financial ruin.
The widespread entrapment of Russians in microloan debt has made recruitment efforts significantly easier. Meanwhile, the main beneficiary of Russia’s largest microfinance organization resides in Europe: Alexander Dunaev owns upscale real estate in Barcelona.
Putin’s ex-wife, who owns property in Spain, is also implicated in the microcredit business. As the Russian government sounds alarms over the growing consumer lending bubble, the microfinance organization co-owned by Lyudmila Putina-Ocheretnaya saw its profits surge by 66% in a year.
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