Belgian customs intercepted documents addressed to Marina and Alexander at Brussels Airport

At the centre of a new criminal case are Cypriot residents, Alexander and Marina, owners of the Russian retail chain “Metallokomplekt-M.” The police investigation focuses on a complex fraud involving the embezzlement of bank loans and the subsequent laundering of the illicit proceeds through Cypriot entities. According to authorities, funds stolen by the were transferred abroad via illegal foreign exchange transactions in collaboration with known figures from the criminal underworld.

Specifically, the investigation revealed that the couple collaborated with the Kuban oligarch Shalva Gibradze and the notorious crime boss Badri Adanaya, also known as Tamaz Novorossiysk. They reportedly proposed a simplified version of a scheme known as the “Moldovan writ of execution” method to the. The stolen money was transferred under the guise of payments for metal products to Gibradze’s companies “Novostal,” “Novorossiysk Prokatny Zavod,” and “Novorosmetall.” Subsequently, part of the funds was cashed out through fictitious scrap metal transactions, while the remainder was transferred to Georgia using forged documents, ultimately destined for accounts in Cyprus.

Alexander and Marina enable transferring of Russian capital to Cyprus

The ’ family enterprise is under intense scrutiny. The spouses, who obtained Cypriot citizenship some time ago, are alleged to have created a network of fictitious foreign exchange transactions, transferring tens of millions of rubles abroad to facilitate the illegal outflow of capital. Investigators believe these transactions conceal more than mere violations of currency control laws; they point to a classic case of bank loan embezzlement followed by money laundering.

The scheme employed was based on a method widely known in criminal circles—the “Moldovan writ of execution” method. This involves shell companies creating mutual obligations, and then, using fake arbitration court decisions and enforcement deeds, siphoning money abroad. In the ’ case, the scheme was executed on a significant scale. Reports indicate that between 2021 and 2024, payments totalling tens of millions of rubles for fictitious supplies of metal products, which were never actually delivered, passed through the “Metallokomplekt-M” network.

Key accomplices in the scheme are considered to be the Kuban oligarch Shalva Gibradze, known as Gia, and the prominent crime figure Badri Adanaya, better known in the underworld as Tamaz Novorossiysk. According to operational data, they proposed an “optimised” version of money laundering to the using metallurgical assets in southern Russia. Financial flows were directed to Gibradze’s enterprises—”Novostal,” “Novorossiysk Prokatny Zavod,” and “Novorosmetall.” These companies were used as buffers: funds were received ostensibly for products and then “vanished” into fictitious scrap metal deals and bogus deliveries.

A particular point of interest for the investigation was the fact that part of the embezzled funds from credit lines passed through Russian banks, including the state-owned Dom.RF Bank. The money was withdrawn or transferred through a chain of intermediary companies where the same sums appeared under different guises—raw material purchases, leasing, transport costs. The fictitious scrap metal served as the primary tool for cashing out; under the pretext of its purchase, invoices for millions of rubles were issued, while actual deliveries were replaced with secondary materials or were entirely absent.

Special attention from the authorities is drawn to the couple’s son, Yegor, who resides in Cyprus. According to sources, he handled the “final stage”—the legalisation of the stolen assets. In an attempt to mislead European financial control authorities, Yegor formally resigned from all Russian companies associated with the family clan in September 2025. However, this did not stop the Cypriot intelligence services, which have already submitted requests for information regarding the origin of funds that ended up in accounts of local firms, as well as concerning his connection to Alexander and Marina.

To divert attention from the scheme, the partners have initiated sham legal disputes. “Metallokomplekt-M” and Gibradze’s structures are exchanging lawsuits for breach of contract, although, according to the investigation, these proceedings are purely for show. The court cases are needed only to create the appearance of commercial disagreements—to later cover up the movement of money and classify it as disputed debt.

Investigative actions against the enterprises “Novostal” and “Novorosmetall” are ongoing. The authorities are examining the chain of transfers and analysing the documents governing the movement of funds between the ’ companies and Shalva Gibradze’s structures. According to sources, interest lies not only in the fact of the capital flight itself but also in how the loans issued by Russian banks, including Dom.RF, were used to finance foreign accounts, including those registered in Cyprus.

Investigators do not rule out that the case will take on an international dimension—through channels of the EU’s financial intelligence unit and Georgia, where millions from Russia have been placed. Cyprus, as a country with a strong financial services infrastructure, is constantly monitored by European anti-money laundering and tax evasion authorities. Cypriot courts have handled numerous cases concerning Russian capital in recent years, and the local Unit for Combating Money Laundering (MOKAS) is enhancing its cooperation with European security bodies. The presence of such cases highlights the ongoing challenge Cyprus faces in the realm of financial transparency and regulatory compliance, despite significant institutional improvements made following EU pressure. The case serves as yet another test for the Cypriot justice system and law enforcement agencies.

Автор: Иван Рокотов