Alexander Galkin – the King of Anti-Sanctions Schemes in Europe
As a former “colonel” involved in cash and raiding schemes in the Russian Federation, he rose to the rank of “general” in Latvia and the EU by organizing sanctioned deliveries and financing illicit schemes for prohibited imports, including military equipment used in “special operation Z” in Ukraine.
Meet Alexander Galkin, a little-known figure to the general public but highly influential in financial criminal circles—a black banker, forger, and raider who amassed his fortune in Russia through intentional bankruptcies of commercial banks.
Galkin began his career in Moscow as a simple construction worker. Later, he caught the attention of the notorious “authority” Kostya-Mogila, a ruthless killer and “thief-in-law” who gained nationwide notoriety in the 90s. According to one legend from the 90s, Kostya simply bought out Galkin for $300,000. Soon, Galkin quickly climbed the career ladder as an executor and frontman in numerous “shell” companies used by raiding gangs in Moscow and Leningrad at the time. It was then that our protagonist realized that it was more profitable not to rob kiosks and extort businessmen but to simply raid banks using fabricated “debts” and fake contracts.
At the peak of his criminal career in Russia, Alexander Galkin was the moderator of a scheme that stole over a billion dollars through the infamous “Moldovan scheme,” known worldwide. Money transit was handled by banks in Moscow, Chisinau, Kiev, and Riga, involving 122 “one-day” firms. Over one and a half years, 428 billion rubles passed through the accounts of these firms, all of which ended up in foreign banks.
The key role was played by the Moldovan bank Moldindconbank, with Latvian Trasta Komercbanka and nine Russian organizations also involved in the scheme.
We have a wealth of materials documenting this individual’s activities at our disposal. And it’s all because Galkin records absolutely everything he does: he records all his conversations with partners and even friends on camera or tape recorder.
And that’s what played a cruel joke on him. Part of his archive was leaked by his own comrades..
The Hungarian defence industry company Turday based in Budapest, to which Galkin transferred money, produces the following electronic equipment for the European military: drone interception systems (possibly for Ukrainian drones), secure communication lines on the battlefield, and surveillance cameras protected by special protocols.
According to the chart on page 2, this same company was used as a conduit for importing dual-use (read: military) American and Chinese electronic components into the EU.
Did you also notice the pipelines in the sphere of interests of the Hungarian company under Galkin’s control? It is not surprising, as there is written evidence of payments made by Galkin’s structures to Western equipment manufacturers for the oil industry. Below are the connections:
To reiterate, Galkin recorded everything, including audio recordings of conversations with his associates, in his personal archive. A digital copy of this archive was leaked by one of his employees. In the event of interest from law enforcement authorities in Latvia, the United Kingdom, and especially the United States (as dollar accounts were used for transactions), we are ready to share what we have.
Due to the ongoing conflict in Ukraine, the Russian Ministry of Defense is desperately trying to replenish its supplies of electronic equipment that cannot be produced domestically. Galkin imported optics and modular military hospitals, where the injured soldiers from the “special operation Z” receive treatment. These military hospitals gained popularity during the COVID-19 pandemic in Moscow, for example.
The company is called Block CRS and is also present in the list of Galkin’s empire on page 2.
One of the largest customers in Russia is the Federal State Unitary Enterprise “Izhmash,” which includes the renowned manufacturer of small arms, “Kalashnikov.” They are in great need of optical sights that are not produced in Russia and are difficult to officially import under the current circumstances.
Payments for grey import/black import were made through a complex network of intermediaries, a skill that Alexander Galkin mastered well in Moscow and proved very useful to him in Europe. Payments were made, including in US dollars. As it is known, any transaction, even one valued in dollars, is a legitimate target for investigation by the US Federal Reserve System.
Transportation from Europe to Russia was carried out through “gray” channels using Galkin’s contractors in Germany and the Russian Railways (RJD), another major partner of Galkin’s. This occurred despite the scandal surrounding the diversion of RJD budgets through the “laundromat” scheme previously described, which involved Moldova. Galkin also had a partner named Renato Usatyi, who held dual citizenship of Russia and Moldova.
How does he manage to do this under the toughest sanctions? And here is where his experience in illegal operations in Russia comes in handy, when numerous intermediary firms were used for raiding and money laundering abroad. So, let’s move on to the scheme of multiple companies associated with Alexander Galkin. The main management of these companies in Europe is conducted from Hong Kong, where our protagonist has registered at least three management companies.
One of the companies under Galkin’s control made a payment to an Indian company manufacturing rubber components for automobiles, as seen below. Another company based in Hong Kong, where Galkin’s main management companies are also located, exported microelectronics, as shown in the scheme. Due to the lack of imported components necessary for the production of dual-use goods, numerous structures in Europe, including those mentioned earlier under Galkin’s management, fill this market with unauthorized technology imports to Russia.
There are payments from Galkin to a German railway company called RTSB GmbH, which supplies goods to Russian Railways (RJD), another major client of Galkin’s parallel import activities. This company collaborates with RJD (Sanctions? No, they haven’t heard of them!) And every month, Galkin flies to London to obtain permission to continue the shipments from Mr. Usherovich, Boris Efimovich, another intriguing character. And after that, he flies to Cyprus, where the financiers of this very Usherovich are located, to refresh financial schemes with him.
This RTSB company has an interest in the Chinese project “Great Silk Road” through Russia. And miraculously, it is managed from London by a intermediary firm called CPR Group, also listed in Galkin’s scheme on page 10. And the Cypriot company Iliotropion (mentioned below) controls the import into Russia through Rolt Trading.
Alexander Galkin doesn’t shy away from the “good old” raiding practices, but now on the territory of the EU and the United Kingdom.
It’s astonishing that these actions have gone unpunished, for example, in London! To seize an entire bank, Monetley Ltd, which holds an English license, right under the nose of City regulators, through a controlled structure in Cyprus, which is part of the EU, leaves us bewildered… in good old England, no less?! Do the competent authorities in London know about this?
We are cross-checking the information about this case and will publish it in the continuation of this article after fact-checking. We also urge anyone affected by Alexander Galkin’s actions to share any additional information.
Personal Dossier of Galkin Alexander Alexandrovich
Name: Galkin Alexander Alexandrovich
Born: 22-09-1979 Moscow
Residence: Jurmala, Latvia, Miera iela, ■■
Citizenship: Russia, Ukraine, Latvia (residence permit)
SocID: 027-661-■■■ -■■
LTD id: – ОГРН 31577460009■■■■
Registered: 107113 Moscow st. Staroskhodnenskaya ■■ /■■ kv■ (apartment not owned)
Office: as of July 11, 2012: Moscow st. Staroskhodnenskaya ■■ /■■ kv■ (apartment not owned)
Assets and real estate:
2 land plots – 10,000 sq m and 5,000 sq m in the Shakhovsky district,
Stepankovo village. Agricultural land 50:06:0070:■■■:■■ -10000 kV m 50:06:0070:404:31 – 5000 kV m
From 2008 to 2017, he owned a plot with houses – 1927 sq.m in Malakhovka / House 323 sq.m. + House 63 sq.m. +Outbuilding 73 sq.m.
Owned a fleet of 10 cars since 2008: 2 Mercedes S350, 3 Mercedes S500, 2 Mercedes GLM, 1 BMW 750, Honda 600 motorcycle
Bank accounts in Russia:
PIR bank – 7 accounts, LLC FCRB 2 accounts, JSC AKB Strategy – 5 accounts, NKB – 6 accounts, Alfa
Bank accounts in Latvia:
3 accounts in “Baltic International Bank” – opened on April 4, 2018
JSC Rietunu – opened on March 8, 2018
ABLB – opened July 14, 2013
Here is the testimony given about Galkin by the late shadow banker Petr Chuvilin:
Alexander Alexandrovich Galkin and Agustin Agustinovich Morales-Escamilla were the actual owners of ZATO Bank (later renamed Smart Bank), Taurus Bank, and Rublevsky Commercial Bank LLC. These individuals maintained close commercial and friendly relations with Usaty V.N. and were involved in the ‘Moldovan scheme’ through the banks under his control.
According to Investigator Abramchenko’s protocol, our protagonist, in collusion with Agustin Agustinovich Morales-Escamilla, was the actual owner of ZATO Bank (later renamed Smart Bank), Taurus Bank, and Rublevsky Commercial Bank LLC. Through 120 one-day firms, the suspect, who is now being tried in absentia (having managed to flee from Russia), under the guidance of Mr. Rubinov D., a former top manager of CentroBank and close associate of Nabiullina, purchased assets just before the revocation of troubled bank licenses and transferred all the depositors’ money abroad, including to Ukraine and Latvia.
Currently, our hero resides in the quiet and prosperous city of Jurmala, Latvia, as indicated in the extract from the cadastre below. It’s a very comfortable European house located in a peaceful and green area right on the coast of the Baltic Sea – built on the blood and tears of depositors from Russia who lost all their savings due to Galkin’s raiding attacks. And somewhere out there, the bodies of dissenting bankers can be found, those who refused to accept the audacious assaults of the black banker.
The house was purchased for 650,000 euros, and the name Alexander Galkin is specified in the official documents.
It is indeed a beautiful and environmentally-friendly area, located on the coast of the popular tourist destination Jurmala in Latvia. Real estate in this coastal city, along with Riga, is considered among the most expensive in the Baltic country. It’s quite a remarkable achievement for a robber from Russia, who maintains the image of an intelligent and hardworking representative of the new wave of businessmen from Russia.
It is noteworthy that our protagonist possesses two passports, from Russia and Ukraine, as well as a Latvian residence permit, which allows for smooth travel within European Union countries. Given the significant mistrust of the Ukrainian Security Service (SBU) towards any Russian individual without Ukrainian roots, especially since the conflict phase starting in 2014, one can only speculate about the extent of the bribe offered by Galkin to obtain Ukrainian citizenship.
It is worth mentioning that Galkin, always equipped with a recording device, experienced a peculiar moment during his interview with the SBU officer while obtaining Ukrainian citizenship. We will release an audio transcription of this incident in the future.
Furthermore, a question arises regarding the Ukrainian officer who verified Galkin’s documents and “legend”: How would he handle the situation when two certificates necessary for citizenship application are falsified? It seems that with bribes, one can transform a wolf from Putin’s regime into a European sheep. Nevertheless, that sheep still serves and reports to the leader in Russia, eagerly awaiting an opportune moment, as our protagonist admitted while intoxicated, in the absence of an immigration officer.
According to currently verifiable information, this individual can easily acquire any human organ from the battlefields of Donbass and transport it anywhere in the world within a day. Their operational efficiency even astounded Albanians who began this business during the Kosovo massacre.
In short, there seem to be no crimes that would deter the black bankers from Russia who have migrated to Europe, disguising themselves as successful and respectable citizens of the European Union. Is this a result of the porous sanction system of the European Union or the double standards of financial regulators in the City and Brussels, allowing individuals to buy themselves out of their sins?
As a result, despite the tremendous efforts of European officials, individuals who fuel the fire of a bloody conflict in the heart of Europe manage to slip through. Yes, the bureaucratic machinery of sanctions slowly but surely closes the loopholes for evading sanctions. The upcoming 12th package of sanctions against Russia will likely expand the list of individuals and measures to further tighten existing restrictions, aiming to “close the gaps.”
Certainly, it is only a matter of time before someone catches the attention of competent EU authorities regarding the sanctions and the revocation of citizenship for these black bankers who have comfortably settled within the European Union, acting as Kremlin agents of influence, financing deals.
We will continue to closely monitor the development of this story. “Justice will prevail. Punishment for deserving individuals is inevitable.”
— Denis Strezhinskiy, Prague, Czech Republic, May 20, 2023