‘The Bell’: Russia’s ‘Orthodox tycoon’ is bankrolling a monarchist movement, but where does he get his money?
Konstantin Malofeev rose to fame in Russia’s corporate wars of the late 2000s. He became one of the most powerful people in telecommunications, but the devoutly Orthodox tycoon almost lost everything in a bitter dispute with state-owned bank VTB. In 2014, he was sanctioned by the West for providing support to rebels in eastern Ukraine. Since then, his business empire looks to have run into trouble: several of his companies face bankruptcy and others have big tax arrears. Nevertheless, Malofeev is pursuing his ambition to lead a monarchist political party and build up a conservative media empire. Meduza-partner The Bell took a look at his political activity, his alleged involvement in the appropriation of $450 million worth of stolen crypto-currency by security officials and how he keeps his businesses afloat.
Read The Bell's report here.