Kyrgyzstan: Is the financial consultant of Bakiev’s family the associate of Italian mafia?
Few months ago MGN Capital was selected through tender procedure by Kyrgyzstan’s Development Fund as the financial consultant and asset manager. Some sources indicate that Bakiev’s government transferred $300 million of Russian credit money to be managed by Gourevitch. MGN also provided consulting service for privatization of state-owned OJSC Severelectro and OJSC Kyrgyztelecom; the outcome produced the scandal in Kyrgyzstan.
The Italian court named Eugene Gourevitch among other 55 associates that were allegedly involved in a fraud that have siphoned an astonishing US$2.7 billion from the wholesale telephony divisions of Telecom Italia SpA and Fastweb SpA between 2003 and 2006. Gourevitch's Italian associates allegedly employed fictitious receipts for telephony. Judge Morgigni's 1,600 page arrest warrant claims "Gourevitch used his international contacts and financial expertise to help the Italian criminals launder their illicit profits".
Judge Morgigni alleged the U.S. citizen had "created, managed and used... a series of companies through which he moved an enormous quantity of money constituting the 'cuts' destined for the various members of the conspiracy".
The news on possible links of Eugene Gourevitch with Italian mafia shocked Kyrgyz society. However, in the opinion of Edil Baisalov, the connection between the current Kyrgyz government and international criminal circles is no news for Kyrgyz political opposition.
"Kyrgyzstan turned into gigantic laundry machine for criminal money. Dozens of billions of US dollars are being laundered in our country. The banks of Nadel and Gourevitch absorbed entire banking industry. In addition to drug lords’ assets they manage the millions of Russian loan money now. Is not this the legalization of criminal funds?" says Edil Baisalov, one of the opposition leaders, residing outside of Kyrgyzstan, in his comments to Ferghana.Ru.
"We are not even going to claim statements from Kurmanbek Bakiev and his son Maxim. People got one thing clear: the current regime is not motivated by law and national interests, but greediness and desire to make money. Gourevitch’s company is so much tied up with current regime that it was not only limited by financial consulting; it was also involved in the state reforms and promotion of changes in the constitution. If the government transferred entire national wealth of Kyrgyzstan to the management of international Mafia members how can people still trust them?" notes Edil Baisalov, adding that the opposition will demand the immediate resignation of Maxim Bakiev, the arrest of all international accounts, related to him or Gourevitch; besides, the opposition leaders are going to demand early presidential and parliamentary elections.
It has to be mentioned that in his interview to Azattyk Radio, dated October of 2009, Eugene Gourevitch shared the details about his business in Kyrgyzstan.
NOTE: Eugene Gourevitch is the CEO of CJSC MGN Group and an entrepreneur with over 13 years of experience in management consulting, commercial and investment banking and asset management. Eugene founded the MGN Group in 2008. In April of 2009 Mr. Gourevitch was elected as a member of the Board of the OJSC "Manas International Airport", the biggest airport services provider of the Kyrgyz Republic and CJSC "Electricheskie Stancii", the State-owned electricity monopoly.
Prior to founding the MGN Group Mr. Gourevitch established and managed a number of successful ventures. From 2001-2007 he co-founded and was President of Virage Consulting Ltd, a US-based management consultancy firm, focused primarily on emerging markets. He was also the co-founder of several high-profile investment funds with total assets under management in excess of 200 million USD. Eugene has also developed a number of start-up high-tech businesses, the latest example being Adotube Inc, where he serves as a Member of the Board and helped co-raise several rounds of investment.
Eugene Gourevitch holds a Bachelor’s degree in Business Administration from the Haas School of Business at University of California, Berkeley. Mr. Gourevitch currently resides full-time in Bishkek, Kyrgyz Republic. Source: www.mgncapital.com