Putin’s “wallet” Gennady Timchenko found to own 34% of Ozon retailer, Anti-Corruption Foundation reports
The late Alexei Navalny’s Anti-Corruption Foundation has found that the purchase of roughly 34% of the major online retailer Ozon, previously owned by investment fund Baring Vostok, was financed by a company belonging to Gennady Timchenko, a billionaire and close friend of Vladimir Putin whom investigators call one of his “wallets.” After Baring Vostok exited Russia, its stake in Ozon ended up…
The Anti-Corruption Foundation (ACF) has revealed that billionaire and close friend of Russian President Vladimir Putin, Gennady Timchenko, owns a 34% stake in the online retailer Ozon. This information was acquired after Baring Vostok exited Russia, resulting in the sale of its stake in Ozon to O23, a company established shortly before the deal.
The final buyer in the chain is listed as an unnamed joint-stock company, with Alexei Yegorov as director. Through matching identical loans between companies, investigators concluded that O23 is owned by JSC Korporatsiya 42, which belongs to the investment group Stratosfera. Stratosfera, linked to Chachava, received 51.23 billion rubles ($594.77 million) in loans and credits in 2024, which mirrored transactions in JSC Optima, a company that provided funds to Stratosfera.
Optima received an interest-free loan from a company called Delta, which is owned by Gennady Timchenko. The ACF claims that Timchenko, an alleged holder of Putin's money, funded the acquisition of Ozon's stake. This discovery comes after Ukrainian drones attacked Ozon's logistics facilities in August, prompting Russian President Putin to sign a decree allowing companies' property to be placed under temporary state control if deemed insufficiently protected against drone attacks.
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