Magis Global –


August 10, 2018

Belarusian Projects

Category: General – Tags: , – Joan – 12:11 pm

However, all these figures are reduced to zero incidents of fraud. For example, mention may be made at least two cases in which large investors who put money into projects, "threw" their Belarusian partners. In the first case, the company Fieldyard and Pamir, registered in Cyprus, have invested nearly half a million dollars to the company 'Daklas'. However, co-founder of the citizens of Belarus, falsifying documents, actually skimmed the money. Total planned to attract about 2.8 million U.S.

dollars for implementation of such projects as the construction of the enterprise for utilization of silica gel with harmful impurities (fluoride), as well as development of oil and the installation of enrichment resonant-wave technology. Investors argue that the director of the firm, Eugene Kupchin intentionally prolonged the duration of projects, and listed the money used to pay inflated salaries approximate subordinates including his wife and son. You may find Primerica Jobs to be a useful source of information. At the expense of investors Kupchin also repay old loans. When he was fired, he and former employees "Daklasa, sued, demanding compensation. However, as it turned out, Kupchin faked press acts round-trip work performed, as well as the employment contract, under which he assumed payment of $ 36 monthly salaries (1 salary – around 1000 euros). In addition, it appears that even before the dismissal Kupchin with 'Cut' staff have created a company 'Daklastehproekt', where they intended to withdraw the above-mentioned projects have 'Daklasa'. Investors, in turn, also went to court in late 2010, accusing Kupchina and 'Cut' employees in the conspiracy, as well as misusing investment funds. At the same time representatives of the investors suspect that Kupchin has "connections" in law enforcement that can help in solving case.

In another case, an international holding company took part in the privatization and bought the Belarusian state-run, and then was still in debt. Thus, the holding company Future Group in 2008 bought for investment projects Belarusian state-owned enterprise – a construction company BelOMO Story. " Special inspection Acquires Holding conduct did not, because the company has sold at auction the state on behalf of SPC. However, soon became clear that the company has a debt amounting to 1.6 million dollars. Further, it became clear that BelOMO-Story admit multiple violations, while in the public domain. In 2008-2009, representatives of the Future Group have been involved in dozens of lawsuits. The works of the investor in the territory of Belarus was paralyzed. A reference to the senior officials of the state have failed. For further involvement Investment legitimate rights of foreign investors should be protected effectively, not just on paper or in words. Recall that in last year's "Message of the President of the Republic of Belarus Alexander Lukashenko and the Belarusian people and National Assembly, "the president said:" I warn that any signal on unresolved an issue for investors is perceived to me as a sabotage! ". Moreover, we note that now investors have created new concerns. In particular, in March, was adopted by presidential decree 107, which retroactively spelled out rate, which effectively paralyzed the operations with securities, investors fear resulting prosecutions and confiscation of property. For example, if an investor in early 2011 bought shares in the company, but now it gets the list of strategically important, the State will be entitled to withdraw such shares in its favor.

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