Oleg Boyko

Oleg Boyko    (businessman, billionaire)
Born	28 September 1964 Moscow
Nationality	Russian
Alma mater	Moscow Aviation University, Russian Presidential Academy of National Economy and Public Administration
Member of	WEF/Global Leaders for Tomorrow/1995
WEF/Global Leaders for Tomorrow/1995. Starting his career on the Soviet black market and as a "banker" in the chaotic 1990s Russia, Boyko became one of the privileged few to operate monopoly Russian state run lotteries.

Oleg Viktorovich Boyko is a Russian businessman Chairman of Finstar Financial Group, a diversified private equity firm founded in 1996. Finstar manages and consults portfolio companies and assets worldwide. Assets under Finstar management exceed $2 billion. Oleg Boyko's interests span Europe, the US, Asia and Latin America and he currently occupies the 1561st spot on the World's Billionaires list, with a personal wealth estimated at $1.4 billion.

Starting his career on the Soviet black market and as a "banker" in the chaotic 1990s Russia, Boyko became one of the privileged few to operate monopoly Russian state run lotteries.

He was selected a Global Leader for Tomorrow by the World Economic Forum in 1995.

Career

The anonymous website olegvboyko.website - definitely not written by his friends, unlike his Wikipedia page! - details his career, "the results of an in-depth investigation into Oleg Boyko."

The website writes: "Two points are strikingly apparent throughout this entire period. The first is his continued propensity to engage in illegal activity – predominantly financial crime – which has not diminished over time, while the second is the sheer number of his connections to influential individuals amongst Russia’s political, law enforcement and commercial elite."

The following section is summary of its findings:

• Boyko was once of the most successful and influential oligarchs in 1990s Russia. He was heavily supported in his ventures by the KGB (and later the SVR), for whom he was an informant. For example, they provided licences and protection to his fruit importation venture, OLBI Jazz, into St. Petersburg port during the 1990s, in the midst of a turf war between two of the city’s most violent organised criminal groups. Boyko additionally had the support of the former KGB officer Valeriy Polomarchuk who served with, and was a friend of, Vladimir Putin.
• During the 1990s, Boyko had a gaming venture with the organised crime boss, Mikhail Mirilashvili, aka Misha Kutaisi.
• His primary corporate concern, OLBI, which numbered some sixty companies, was involved in financial crime during this period. This included Ponzi schemes undertaken by OLBI-diplomat and money laundering which were subsequently exposed with the collapse of his bank, National Bank Credit. This bank serviced the OLBI companies so its collapse in 1995 (in spite of a US$126 million promissory note from state-owned Sberbank) due to an interbank lending crisis unravelled Boyko’s then business empire. After the collapse of the bank, Andrei Kozlov, Deputy Chairman of the Central Bank, stated that he would take measures to ensure Boyko would never again become a banker.
• The collapse of the bank and the uncovering of the Ponzi scheme resulted in a criminal case being initiated against Boyko and the entities involved. These were closed down after both the bank and OLBI-diplomat were declared bankrupt and dissolved. A linked criminal case initiated in 2006 was closed down under non-exculpatory circumstances, most likely due to a statute of limitations. Nevertheless, the charge against Boyko remains on his profile.
• Boyko invested heavily in his political connections during the 1990s, but he was fluid as to his loyalty; a pragmatist rather than an ideologist.
• Boyko’s most influential current contact – and close friend – which ably demonstrates his well-protected position in Russia, is Igor Shuvalov, First Deputy Prime Minister of Russia. Shuvalov, who is regarded as one of Russia’s most corrupt officials, worked closely with Boyko and his OLBI companies; he was also legal counsel to National Credit Bank, during the 1990s; entities which were subsequently revealed to have acted illegally and partaken in various financial crimes.
• Shuvalov has orchestrated and forced through new laws in Russia which benefitted Boyko’s gaming interests to the detriment of his rivals. This made Boyko one of the privileged few to operate State run lotteries; whilst all private lotteries were outlawed. The licence for one of the lotteries which Boyko operated ran out in June 2015, but not before Boyko sold out to management. The ownership of the operating companies managing the two remaining state lotteries is opaque and Boyko may still be involved.
• Boyko’s connections to the influential lawyer, Anatoliy Kucherena, who stands on the Public Counsel of the FSB provides Boyko with additional influence and power. It also increases his ability to “manage” his business empire.
• Boyko engaged in corporate raider tactics whilst Chairman and a shareholder of EvrazHolding (1998 to 2004).
• He was named as the subject of a letter rogatory request sent by the Thai authorities to the US in 2002, which a US judge promptly granted. Boyko, National Credit Bank and his company OLBI-USA had been involved in laundering money from a fraud of over a hundred million dollars, which led to the collapse of the Bangkok Bank of Commerce in 1994. In turn, this contributed to the 1998 Asian financial crisis. In the fraud, Boyko was close to – and a business partner with –Rakesh Saxena who after being pursued across the world was finally extradited to Thailand where he was sentenced to twelve years in prison and fined US$35.8 million.
• In 2004, Boyko re-entered the Russian banking sector, buying into Federal Industrial Bank and Etalonbank, both of which were subsequently denied access to the country’s deposit insurance system. In July 2006, Boyko sold Federal Industrial Bank to management. A week later, the Central Bank revoked its licence for a failure to prevent money laundering. In the 6 months prior to the sale, the bank had moved RUR 31.5 billion out of the country.
• Boyko engaged in a corporate raid in the US on the gaming firm Cadillac Jack, although this was subsequent ruled legal in resultant proceedings.
• Boyko’s involvement in funding Hollywood films is a money laundering venture.
• In 2013-2014, Boyko was part of a political team organised by Dmitri Rogozin, Deputy Prime Minister, which was sent to Moldova to see if they could assist the local communist party win upcoming general elections. Boyko’s role was to try and show how the Russian business community could assist the Moldovan party in the event that it won. The scheme in the end failed as they could not agree terms and the communists lost. However, Boyko’s involvement is evidence as to the high degree of trust to which he is held amongst the Russian political elite.
• Boyko is the majority shareholder in the JUveljuks group of jewellery companies. The director of one of the companies, JUveljuks Jugra, has a criminal record and is listed by Russian law enforcement in connection with forgery and weapons transportation.

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