The offshore company that allegedly received millions of dollars stolen by a former Russian government minister is now racing to rewrite its registration records in Cyprus

The offshore company “Blacksiris,” which is mentioned in the case materials against former Open Government Minister Mikhail Abyzov, started changing its registration records in Cyprus, immediately following Abyzov’s arrest on Tuesday, Meduza has learned.

According to Russian investigators, Abyzov transferred a large sum of stolen money — 4 billion rubles ($61.8 million) — to a bank account registered to Blacksiris, which he controls. The newspaper Kommersant says Abyzov allegedly embezzled the money from the “Siberian Energy Company” and “Regional Electric Networks.”

Meduza obtained registrar records about Blacksiris from state officials in Cyprus indicating that the government received two notifications concerning alterations to the company’s office address and officers on March 27 — a day after Abyzov’s arrest.

The company’s current owner is listed as Genako Ventures Limited, a business registered in the British Virgin Islands. Russian investigators believe Abyzov and his accomplices are the offshore’s real owners.