Archive for the ‘Estonian Scams’ Category
The scandal implicating the influential Rosimannus family has got a new twist as a loan contract with which trucking firm Autorollo lent 2 million kroons to a Russian businessman based in Pskov seems to have been forged.
Äripäev tracked down Roman Moiseev, the Russian businessman in Pskov who allegedly borrowed the money from Autorollo. He denies any knowledge of the debt and said he has never met the company’s executives.
In 2010 the trucking company that belonged to Väino Pentus, father of Keit Pentus-Rosimannus, Minister of Environmental Affairs and one of the most influential members of the Reform Party, had lent 2m kroons in cash to a Russian citizen Roman Moiseev.
In addition, the company lent 1 million kroons to Est-Trade Group, a company of Hillar Talts that is being liquidated.
By the time when the loan contracts emerged, the company had gone under the control of Siim Roode who is closely linked to Keit-Pentus Rosimannus and Rain Rosimannus.
Creditors of Autorollo say that the fact that no-one in the company have actively claimed back the loans, seems to indicate it was disguising outflow of cash from the company.
The loan contract signed with Roman Moiseev, a Russian businessman, has his date of birth on the contract, but his signature is different from that on the loan contract.
“My date of birth, names and home address shown on the contract are accurate,” he confirmed.
Moiseev said that Estonian media had this week sent him the loan contract that he had allegedly signed. He says that while his personal data on the contract are accurate, the signature is forged.
Moiseev says that although he often visits Estonia, at the time when the contract was signed he was not in Estonia.
Another sign that everything is not above board with this contract is that although the cash to Moiseev was paid out by Väino Pentus, the only signature on the contract is that of Moiseev which now seems to have been forged.
“I don’t even know a company called Autorollo,” said Moiseev yesterday.
Tiit Pohl who in 2008 sold Autorollo to Väino Pentus and was the company’s board member until 2010 said that Rain Rosimannus had helped Autorollo borrow 8 million kroons from Swedbank back in 2008.
The loan was secured by Kredex.
Pohl said that Rain Rosimannus also advised Väino Rosimannus in the company’s acquisition.
According to Pohl, Rosimannus wanted to get the loan from Nordea because they had leased their trucks from Nordea, but Nordea refused.
Pohl says that Rosimannuses were actively involved when the company was already going under and gave orders how to siphon assets out of the company and hide its debts.
“They even told the board member of Autorollo to tell the company’s customers to pay to a bank account in SEB and not to the one in Swedbank because Swedbank could have seized the money. They also hired lawyers to ensure that they were able to line their pockets as much as possible,” said Pohl.
Rain Rosimannus admitted yesterday that he had met with Swedbank representatives over the loan to Autorollo, but he says that he remembers nothing about obtaining a security from Kredex.
Rosimannus still claim that he had nothing to do with managing Autorollo and was simply helping his wife and his wife’s father.
Ülo Kallas, son of European transport commissioner Siim Kallas, helped Rain Rosimannus, one of Reform Party’s most influential members, to secure a loan for Väino Pentus, father of current Minister of Environmental Affairs Keit Pentus-Rosimannus, writes Äripäev.
Pentus who owned trucking company Naitsirk needed money to buy Autorollo, a trucking company that belonged to Tiit Pohl. He bought the company and merged them into Autorollo which soon afterwards went bankrupt under suspicious circumstances.
The loan of almost 600,000 euros was granted by Swedbank to Naitsirk Ltd in 2008 when Ülo Kallas worked as head of project financing department in Swedbank in Estonia. This loan was never repaid.
Although Kallas who now works as head of capital markets of Finance Estonia at first denies having mediated the loan or contacts, he then admits that he helped to make sure that Rosimannus met with the “right people” at the bank.
“I did it because I knew Rosimannus,” said Ülo Kallas to Äripäev, adding that the loan in question was too small for his department.
The seller, Tiit Pohl, has claimed that the loan which was granted in 2008 was managed by Väino Pentus and Rain Rosimannus. According to Pohl, at first they asked a loan from Nordea, but it refused.
When Äripäev asked Rain Rosimannus for confirmation, he said that he cannot comment it because of the ongoing court dispute.
Although Rosimannus claims that he was simply advising the company’s restructuring, was doing a favour to the father-in-law and played no active role in the company, he admitted that he helped to apply the loan.
The loan in question was guaranteed by Kredex, a state export credit agency. The Finance Ministry has now said that in its opinion Kredex did nothing wrong in backing the loan that was used to procure transport vehicles and equipment and that Kredex had not violated EU state aid rules.
This is questionable because while EU rules prohibits to use state aid for acquisition of road transport means and vehicles and therefore Kredex was banned to secure loans that are used to buy road transport means and vehicles, this is exactly what happened.
Namely, the objective of the loan was for to acquire a company whose main assets were transport means. Although legally OK, Kredex essentially violated EU rules.
The agency’s internal auditor is currently conducting an audit of the activities of Kredex with regard to guaranteeing the loan. The findings of the audit are expected to be reported at the end of January.
After Autorollo stopped repaying the loan, Swedbank filed a bankruptcy application against it and the company was declared bankrupt in 2011. Swedbank received most of the loan in the amount of 330,000 euros back from Kredex which made Kredex Autorollo’s biggest creditor. According to Eesti Ekspress, Kredex considered the loan irrecoverable and sold it for 3,500 euros.
Rosimannus’ friend, lawyer Siim Roode who became owner of Autorollo in spring 2010 after the company developed financial problems, has said that Swedbank should not have granted the loan to Autorollo because it was obvious that the company was not able to service the loan.
Roode said that an audit also showed that the holding that Väino Pentus bought from Tiit Pohl was worth only half of what was agreed, or about 400,000 euros.
The creditors of Autorollo have now sued Keit Pentus-Rosimannus, Rain Rosimannus and Siim Roode, claiming more than half a million euros from them.
We have received information, that Margus Vaino, Santa Monica AS director has several criminal cases lately opened against him after he tried to racket and extort large sums of money from a foreign investor; he has committed several of private property invasions and harmed physically the mentioned businessman in front of a number of witnesses.
Definitely, during this period of crisis, all the ways seem to be good to make money in Estonia. After fraudulent bankruptcies with the shamelessly hijacked assets just like it happens each day in Estonia, it seems that old good mafia methods are again becoming popular.
Margus Vaino does not seem at his first time to get protection because his enterprise seems to be a supplier of Estonian secret police.
Invest Estonia investigates for you and we will certainly keep you informed – another dirty story that does not encourage investment into this imitation of a civilized country.
Meieni jõudis info, et Margus Vaino, Santa Monica AS direktori vastu on hiljuti algatud krimnaalmenetlust seoses sellega, et ta on teinud mitu väljapressimiskatset.
Eelmainitud isik nõudis välismaiselt investorilt suurt rahasummat, ta olevat samuti mitmekordselt tunginud eraomadisse ning tekitanud füüsilist kahju sellele isikule mitme pealtnägija juuresolekul.
Näib tõesti, et Eestis on majanduskriisi perioodil «papi lõikamiseks» kõik vahendid head. Pärast petlikke pankrotistumisi häbiväärselt varastatud aktiividega, mis on igapäevane asi, on nähtavasti head vanad maffia meetodid on jälle moes.
See pole, vastavalt saadavatele andmetele, Margus Vaino esimene kord kaitset saada – tema firma on KAPO tarnija.
Invest Estonia uurib asja Teie jaoks ning me lubame hoida Teid kursis – veel üks räpane lugu, mis ei ajeta investeerima sellesse tsiviliseeritud riigi imitatsiooni.
SEB. its employees sell rich clients and companies information and account details to any one for even 500 eek.Few brilliant thieves in SEB are Kairit Kirs, Eduard , Terje Reimann,Karin Kirs and list is endless.
Owners of two Estonian construction firms Wolmreks Ehituse and Kristiine Ehituse are suspected to have masterminded a scam causing the state and subcontractors to lose millions, writes