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New Fraud Allegations on Alex Sekler? (2024)

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Alex Seckler claimed to have been born in the USSR of Moldova in 1957. History did not document Seckler’s acts before the early 1990s. In a formal setting, Seckler was first acknowledged in 1993. Then, according to Alex Sekler, he started his first business, the “Liral Group,” which went on to become successful in countries 

including Poland, Germany, Canada, Russia, and Ukraine.

According to Alex Seckler, he also loves to call himself a “philanthropist” and a good family man. Alex Seckler says he’s highly recognized in some corporate circles. Even though he engaged in numerous dishonest business practices, he maintains that he operated in Russia for nearly three decades.

Seckler, a cunning businessman, continues as normal with his operations in the Russian Federation despite this. However, Seckler began selling his companies at a loss a while back after realizing something wasn’t right. The businessman either truly needs money or, less likely, wants to get out of Russia as quickly as possible.  

Financial fraudster Alex Sekler sells Russian assets and withdraws money from overseas accounts

The Russian real estate market appears to be rife with fraudulent activity, as many investors fall prey to unscrupulous techniques every year. In addition, significant amounts of construction-related income are being embezzled from Russia each year and either lost overseas or transferred into the personal bank accounts of company owners.

Renowned Israeli businessman Alex Sekler had spent almost thirty years as a prosperous businessman in Russia. His strategies have changed in recent years, though, as he has started liquidating his companies, trying to remove unfavorable information off the internet, and suing former business associates. Remarkably, Sekler has been using his firms, IFC Liral LLC and the Cyprus offshore company Monsalvat Investments Limited, to transfer substantial amounts of money outside of Russia.

Over his life, 64-year-old Alex Sekler—of Israeli descent and native of the Moldavian SSR city of Soroca—has resided in Switzerland, Germany, and Australia. In 1993, Sekler founded Liral, his business, and went on to expand it with other initiatives in the prosperous business climate of the 1990s. He had a major role in Renta-Bank, which he used to deceive depositors and siphon money out of Russia.

To summarize, Alex Sekler’s recent actions point to a break from moral corporate conduct, emphasizing asset sales, hiding bad information, and moving money abroad.

Alex Sekler-Plans, offshore, and deception

Sekler is the leader of the Liral group of enterprises, which is involved in construction, real estate investment, manufacturing, telecommunications, and business park management.

The unscrupulous businessman, like many oligarchs, would rather keep his wealth in offshore accounts. This is a powerful tool if the company is operated dishonestly, utilizing dishonest tactics and employing offshore firms to launder money. We think there’s no need to explain what the term “offshore” means in the present era.

The foundation for the Investment and Financial Management Company Liral is also laid out in this plan. Monsalvat Investments Limited, an offshore Cypriot company, is the owner of this LLC. 

As a result, sales in 2021 decreased to just over 352 million rubles, a 44% decrease.

The company ended the previous year with a loss of 15.4 million rubles, and its net profit fell precipitously by 122%.

At the end of the previous year, the organization had net assets of $22.2 million. Over the year, they fell by 41%. The entire assets have dropped to 160 million rubles, a 44% decline.

It’s noteworthy to note that Alex Sekler owns four other businesses that are owned by the aforementioned offshore.

Crucially, every one of these LLCs has also been dissolved. Two of them also underwent reorganization, joining the previously stated limited liability company, IFC Liral. Furthermore, both companies are huge and have generated profitable outcomes in the past.

The first company was a large company called Antey M+ LLC, which had a status capital of more than 22 million rubles when it was dissolved in May of this year.

In 2021, the Federal Tax Service reported that there were exactly zero employees on average. This is an intriguing fact to take into consideration. Over the previous year, the company’s revenue fell to 4.6 million rubles, representing a fall of roughly 53%. The profit for the year 2021 is 6 million rubles, which is a decrease of 23% compared to the profit for the previous year.

On the other hand, the total assets reached 50.4 million rubles, representing a 12% growth over the previous year. 49.2 million dollars was the total amount of net assets after the preceding year.

“Service-plastic” Limited Liability Company is the second company to join IFC Liral. It has a status capital of more than 9.6 million rubles.

The liquidation of this limited liability company took place on the same day that Antey M+ LLC was created. 

The average number of employees in 2017 was 12, which was a decrease of 10 from the year before.

The amount earned in 2021 will be 380 million rubles, which is 56% less than in 2020. dropped and realized an almost 92% profit. It came to 19.8 million Russian rubles in total.

Furthermore, the overall assets decreased by about 60% from 110 million rubles in 2021. 44.6 million rubles were the company’s net assets the year before.

Financial Fraud: Renta-Bank Exploitation by Alex Sekler

The notoriously dishonest businessman Alex Sekler has been using “Renta-Bank” as a vital instrument for his illegal dealings. This bank is notorious for being unreliable; in February of this year, the data web “Topbanki” revealed that the bank’s financial performance had declined dramatically in recent months.

Highlights of the bank’s performance are as follows:

  • a startling 127% drop in profit in the previous half-year.
  • A 5.6% decline in assets.
  • a fifty percent drop in the number of deposits.
  • A reduction in loans of over 49%.
  • a drop in legal entities’ accounts of almost 10%.

Furthermore, “Renta-Bank” was involved in a high-profile case involving Lyudmila Lepko, the former head of the bank’s board, who was found guilty of embezzling 70 million rubles and given a 3.5-year prison sentence. These events highlight the bank’s volatility and vulnerability to fraud schemes carried out by people such as Alex Sekler.

Similar to numerous other global entrepreneurs of Israeli descent, Alex Sekler ventured into the CIS investment domain as soon as the Soviet Union disintegrated. For others, the dark 1990s were a dreadful time of suffering, but for some very smart people, it was also a period of growth. In 1993, Sekler started the Liral firm, which grew into a group of companies. Sekler initially provided metal-plastic pipes to the CIS countries, but as his business expanded, he took on a new venture and established Renta-Bank, which allowed him to take vast amounts of money out of Russia while simultaneously taking advantage of the bank’s depositors. But first things first.

Alex Sekler- The “Liral group”

Seckler is an experienced businessman and, like other oligarchs who, to put it politely, gained their riches through dubious business practices, thinks that assets should be stored abroad. The Liral Investment and Financial Management Company, for example, is leased by Sekler and was founded by the Cypriot offshore MONSALVAT INVESTMENTS LIMITED.

The offshore company also launched Seckler’s four other businesses.

 They’ve all been dissolved since 2013. On May 6, 2022, the IFK Livart LLC that we previously discussed was reformed to include two operational entities. It is not a few little firms we are talking about, but rather large corporate projects. The owner of Antey-M LLC made money throughout the preceding two years, despite the company’s dissolution two months ago, due to its noteworthy financial performance. 

Alex Sekler: Hide Misdeeds and Asset Moving

There is increasing evidence that suggests Alex Sekler has been moving large quantities of money to offshore accounts while planning the purposeful demolition of his Russian holdings. Notably, he started selling off his Russian businesses a few years ago, even at a loss, which caught the attention of the media.

Sekler has also made a concerted effort to remove potentially harmful material about himself from the public domain, which is similar to the practices of businesses with dubious backgrounds. His attempts to lessen the negative effects of a 2001 Trud newspaper article have drawn particular attention; he was involved in disputes with the RTI-Kauchuk rubber products facility.

The RTI-Kauchuk scandal exposes Sekler’s dubious activities, in which he is accused of manipulating the state-owned business into incurring large debt through his Liral schemes. Sekler’s financial transactions in Russia have come under more scrutiny despite court battles, including a successful arbitration in London known as “The Great Judicial War.”

Sekler’s engagement in fraud and scams related to banking, such as bank fraud and other types of fraud, further highlights a pattern of dishonest activity intended to further one’s interests. His reputation is at risk, and there are also significant legal ramifications to these activities.

Concerns about Sekler’s financial deceptions being eventually revealed, which might have legal ramifications and permanently mark him in criminal records, are growing as he continues to remove himself from Russia.

Conclusion

Growing evidence in recent years points to Alex Sekler as the mastermind behind the planned destruction of his Russian holdings while moving large quantities of money into offshore accounts. Notably, a few years ago, he started selling off his Russian businesses—even at a loss—to draw media attention.

Furthermore, in a move reminiscent of businesses with dubious pasts, Sekler has been aggressively seeking to get potentially embarrassing facts about himself removed from the public record. He has been involved in disagreements with the RTI-Kauchuk rubber products factory, among other measures taken to lessen the repercussions from a 2001 Trud newspaper article.

Sekler is accused of manipulating the state-owned corporation into huge debt through his Liral schemes; the RTI-Kauchuk catastrophe throws light on his dubious tactics. Sekler’s financial transactions in Russia have come under closer examination despite legal disputes, which included a successful arbitration in London known as “The Great Judicial War.”

Sekler’s participation in banking scams and fraudulent acts, such as bank fraud and other types of fraud, further highlights a pattern of dishonest activity intended for one’s benefit. In addition to endangering his reputation, these actions carry significant legal ramifications.

Sekler’s continued withdrawal from Russia raises fears that his financial deceptions may eventually come to light and result in legal consequences, solidifying his reputation as a felon.

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