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Chechen President Fleeced in Insurance Scheme
There is a famous new victim in the case of Alexander Dyukov, the martial arts specialist accused of stealing hundreds of millions of dollars in an insurance pyramid scheme. President of the Chechen Republic Ramzan Kadyrov lost about $150,000 after taking out a $20-million life insurance policy with Income Strategy Group, the company run by Dyukov and his associate Zamir Malaibekov, in 2005. There are about 300 criminal cases pending against Dyukov and Malaibekov in various regions of the Russian Federation and their victims since 2003 number in the tens of thousands. Their most profitable activity was life insurance in the North Caucasus.
Kadyrov's name was found in the documents of the accused by investigators. The Chechen president is said to have signed up with the Swiss-registered ISG on the recommendation of his advisors. Kadyrov himself refuses to participate in the investigation and has attempted to keep his name out of the affair. Malaibekov, however, claims that many people “from Ramzan” were taken in by their scheme. The Chechen government press service and Chechen presidential advisor Shamsail Saraliev claimed to have no information about the case yesterday.
Nonetheless, a criminal case has been initiated against Dyukov in Chechnya as well. Chechen investigators have requested that he be transferred to Grozny from Dagestan, where he is currently being held. That request was denied.
According to Dyukov's lawyer Anatoly Ivanichenko, Dyukov did not collect any money in Chechnya. Ivanichenko said that Malaibekov collected money in Chechnya, bought a Hummer and moved to Ivanovo Region. When Chechens found him and demanded their money back, he contacted the police and made accusations against Dyukov.
www.kommersant.com
All the Article in Russian as of Aug. 10, 2007
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