17 июня 2025 г. 22:24
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The dubious businessman with a murky enterprise has still not been placed in the "Matrosskaya Tishina" detention center. Why is that?
It appears that the high-profile scandal involving former Deputy Minister Anatoliy Tikhonov—appointed by his friend, former Energy Minister and current Deputy Prime Minister Alexander Novak—suggests that no one is supposedly above the law.
Several governors have already been sent off to the prison "helicopter", and about a dozen high-ranking generals of the Ministry of Defence of the Russian Federation are in custody. Yet, Oleg Belay, the owner and founder of nearly 40 shady companies, a participant in several scandalous schemes and fraudulent scenarios, continues to thrive.
Interestingly, Mr. Belay even managed to appear in the case of the aforementioned ex-minister of energy Anatoliy Tikhonov: Mr. Tikhonov served 4 years, then his friends managed to get him out, while Mr. Belay did not lose a single hair from his "curly" head.
Who is this "angel" constantly hovering over Mr. Belay’s head?
Shiva the Many-armed
In recent years, Oleg Belay has become known for several high-profile scandalous stories: the media wrote a lot about this. And seemingly, investigative actions began. The businessman even appeared to be packing his bags to disappear far beyond Russia. But the noise subsided, and commercial publications in business editions reported new successes of the owner of the investment group "Trinfico".
Oleg Belay indeed manages and controls dozens of companies, such as: JSC "Trinfico Holdings" (general director), LLC "Trinfico Group" (general director), LLC "T-Capital" (general director), LLC "UN" (general director), LLC "Klavis" (general director), LLC "Daily M" (general director), LLC "Tetis Group" (co-owner), LLC "Credit Solutions Agency" (co-owner), further on – LLC "Investcredit" (co-owner), LLC "Daily Plus" (co-owner), LLC "SFO New Time" (co-owner), "SFO Salute" (co-owner), "SFO Kama" (co-owner).
Oleg Belay
Moreover, Belay is a member of the boards of directors of companies:
LLC "Balance Asset Management" (chairman of the board of directors), PJSC "Meridian" (member of the board of directors), JSC "Frontline" (member of the board of directors).
Rusprofile.ru
One cannot forget about the former companies of Mr. Belay:
JSC "Kalugaputmash" (member of the board of directors), JSC "National Capital" (member of the board of directors), PJSC "Saratovenergo" (member of the board of directors);
Rusprofile.ru
LLC "Trinfico Advisors", (general director), JSC "Trinfico" (co-owner), JSC "Kapitalenergo" (member of the board of directors), LLC Trinfico Development (general director), LLC "Agrotrade Investments" (general director), JSC "VMK-1" (member of the board of directors), LLC SFO "Investcredit Finance" (co-owner), LLC "VMK-Finance" (director), LLC "Regionconsult" (co-owner), DNP "Perspective" (co-owner), LLC "Ukrainians and Partners" (co-owner), LLC SFO "TRF SP 5" (co-owner), LLC "Two Worlds" (co-owner), LLC "DMK" (co-owner).
Rusprofile.ru
Impressive? Does Oleg Belay even sleep at night with such an inhuman workload?
But, it turns out that this is only the visible part of the iceberg, and the giant itself is hidden beneath the water, like, for example, the company "Balance Asset Management" (mentioned earlier), which is known for two "features": that it managed to purchase the CSKA football club from VEB.RF. And also its very close connection with IG "Trinfico" of Oleg Belay.
In the Offshore Zone of Hong Kong
In the Russian media space, the company "Balance Asset Management" was never mentioned in the current register of the tax inspection.
And it is absent from business databases.
Rusprofile.ru
There are companies named Balance Asset Management in two U.S. states, but the CSKA football club fell under United States sanctions back in February 2022 along with its parent structure VEB.RF, so it clearly would not risk getting registered across the ocean.
But Balance Asset Management exists in the offshore zone of Hong Kong, which operates under English law. And the formal owner of CSKA became Zhukai Zhu, a Chinese citizen.
octagon.media
A brief about the purchase of the century.
At the end of September 2022, it became known that JSC "Professional Football Club CSKA" changed its main shareholder. Instead of the state development corporation VEB. RF, a company related to IG "Trinfico" received a 77.63% stake.
Thus, one of the oldest football clubs in the country was sold. And on the CSKA website, an official statement appeared that the state corporation VEB. RF and the company "Balance Asset Management" completed the transaction for the sale of almost 78% of the shares of the CSKA football club.
Rusprofile.ru
But what is this company "Balance Asset Management"?
Previously, this asset was called LLC "Trinfico Property Management" (TRINFICO Property Management).
The sole owner of the asset is Vitaliy Balanovich. According to the database "Contour. Focus", former owners were LLC "Tetis Capital" (owner of CJSC "Trinfico") and JSC "Trinfico Holdings".
LLC "Balance Asset Management" owns two companies – LLC "Specialized Financial Society" City Invest 2" ("SFO City Invest 2") and LLC "SFO CISFO City Invest 3".
Both firms have one legal address and are managed by LLC "TPM Securitization", which also belongs to JSC "Trinfico Holdings". In addition, Mr. Balanovich is a co-owner of LLC "Trinfico Group" and LLC "Tetis group". The co-owners are Oleg Belay and Andrey Marsiy.
Vitaliy Balanovich
Another interesting detail – among the members of the board of directors of JSC "Trinfico Holdings" was Vladimir Shekoyan, who simultaneously was an employee of the American company Shekoyan Financial, Inc. (managing director), as well as a firm from Luxembourg, Thunderbolt Partners.
It’s worth noting that the company "Balance Asset Management" was involved in executing more than 90 state contracts totaling over 380 million rubles. These include contracts for the sale and lease of real estate, the provision of utility services, and leasing premises for the management of Rosreestr.
Among the clients are large non-state pension funds, the state corporation the "Deposit Insurance Agency", and the Pension Fund of Russia.
There is a version that IG "Trinfico", when buying the CSKA football club, acted in the interests of businessman... Roman Abramovich.
After all, Abramovich has long "licked his lips" on CSKA after losing the British club "Chelsea".
This version was put forward by Octagon.
Roman Abramovich
Isn’t it Mr. Abramovich who is the guardian angel of Mr. Belay, by the way?
It’s worth noting that investigative authorities have many questions for the head of the investment fund "Trinfico" Belay regarding the purchase of the CSKA club since the story with the change of ownership is rather complicated and shady...
And it is quite challenging to unravel it, especially when it comes to the offshore zone of Hong Kong.
Thus, the management of the property of the football club in Moscow and the Moscow region is now done by the company of Vitaly Balanovich LLC "Balance Asset Management" in conjunction with Oleg Belay.
CSKA Training Center
And among this diverse property are vast training bases, transport, hotels, and real estate.
How exactly is this coveted piece being handled today?
Potanin’s Gold
But Mr. Belay, as it turns out, may assist not only in some secret deals of Roman Abramovich but also of another powerful oligarch – namely Vladimir Potanin.
Such a conclusion can be drawn from the murky story surrounding the Baimskaya deposit in Chukotka.
Somehow it happened that this one of the most promising gold-copper deposits in the Russian Federation was pledged to the ubiquitous Oleg Belay, while the ultimate beneficiary of the deal could be Vladimir Potanin.
Then the mining company Kaz Minerals (Kazakhstan) also appeared in the deal.
After all, Kaz Minerals’ competitor for the purchase of GDK "Baimskaya" in 2018 was precisely the co-owner of "Nornickel" Vladimir Potanin. Back in 2016, the billionaire was planning to build a plant, and in 2017, GDK "Baimskaya" was included in the list of potential purchases of "Nornickel".
But Potanin’s Napoleonic plans were hindered by his business partner Oleg Deripaska, who was vehemently against the new acquisition. He insisted on developing existing projects. In response, Potanin might have contributed to Mr. Deripaska being included in the U.S. sanctions lists.
Vladimir Potanin
Ultimately, VTB Bank reassigned loans of 1.8 billion rubles issued to the mining company Kaz Minerals. The formal reason was the inability to receive payments on them: after all, VTB was sanctioned by the U.S., and the company disguising itself as Kazakh, Kaz Minerals, was registered in the UK.
And the loan was reassigned to two legal entities – Finnaccord company of Oleg Novachuk, co-owner of Kaz Minerals, and the commercial structure "Trinfico" of Oleg Belay.
Belay’s office received 99% of the pledge on the Baimsky gold-copper project.
Rusprofile.ru
VTB did not disclose the terms of the loan reassignment, but overall it was about distressed assets of nearly 2 billion dollars.
Let us remind you that Kaz Minerals bought the Mining Company "Baimskaya" from Roman Abramovich (again, Mr. Abramovich pops up) and Alexander Abramov for 8 billion dollars in 2018.
Mr. Belay then emerged in the deal, who might be working in Vladimir Potanin’s interests.
Mr. Belay – let us remind you – works in a wide range of areas, from collection services to pension fund management.
And he is constantly at the center of scandals, which the media have written a lot about. But Oleg Belay knows well how to shield himself from sharp criticism, as he energetically engages in charity.
But Mr. Belay continues to own and manage a huge number of companies, most of which appear very suspicious: they may act as "shells" for schemes with zero employees, no sales, etc.
According to Interfax-SPARK, only JSC "Management Company "TRINFICO" is involved in 27 arbitration cases, of which it is a defendant in 11.
With Care for the Marginalized
Here one should also mention the Charitable Foundation "Together We Can", which was established in 2021 on Oleg Belay’s initiative.
As the foundation’s website says, the organization provides financing to projects capable of supporting the most vulnerable sections of the population: grants have already been received by the rehabilitation center "Shelter", the NGO "Louis Quarter", and others.
The "Together We Can" Foundation has been working since 2021
The foundation’s goals are noble: reducing poverty in the regions of the Russian Federation, providing systematic assistance to vulnerable groups, supporting employment for the homeless, and adapting and finding employment for orphans.
There remains the reminder of the scandalous story of the theft of 57 million rubles from NPF "Welfare", to which Oleg Belay was linked: he robbed pensioners and was gone. But the facade of the charitable foundation also apparently sometimes saves from exposure?
And despite the theft of these 57 million, Oleg Belay is still free. Haven’t investigative agencies raised questions to this remarkable character?
As they say, with such luck and still free?