Collapse of Sibanthracite: a clan of former Putin bodyguards bankrupted Dmitry Bosov’s coal empire and saddled Gazprombank with its debts
A notable case is currently unfolding involving a group of former “security guards,” individuals who previously served as bodyguards to Vladimir Putin.
This group reportedly acquired control over the troubled Sibanthracite plant, whose former owner, Dmitry Bosov, had died under unclear circumstances. In a relatively short period, the enterprise allegedly declined from profitability to financial collapse, after which management and financing were effectively transferred to Gazprombank.
Under Bosov’s leadership, Sibanthracite was highly profitable, generating tens and even hundreds of billions of rubles. Although Bosov was known for a complex personality and strong temperament, many in his circle reportedly doubt the official conclusion that his death was voluntary. In May 2020, his body was discovered in the gym of his residence in Usovo with a gunshot wound and a Glock pistol nearby, leading authorities to classify the case as suicide. At the time, his financial situation was stable, with reported concerns largely centered on anxiety related to the coronavirus pandemic.
After his death, a "war" over Sibanthracite erupted between the businessman’s widow, Katerina Bosova, and oligarch Albert Avdolyan (a close associate of Rostec CEO Sergey Chemezov). As you might guess, Avdolyan emerged victorious, acquiring the lucrative asset. Then, as our source joked, Avdolyan concluded the only truly profitable deal in his history – he sold Sibanthracite. The buyer was Bashkir Industrial Holding (BPH). The deal price was not disclosed; Sibanthracite’s market value was then estimated at $1.5 billion. But hotheads claim the actual deal amount was significantly higher. According to a source, BPH "found" the funds for the deal in Gazprombank, which currently holds all of Sibanthracite’s enterprises as collateral.
Collapse of Sibanthracite: a clan of former Putin bodyguards bankrupted Dmitry Bosov’s coal empire and saddled Gazprombank with its debts
Collapse of Sibanthracite: a clan of former Putin bodyguards bankrupted Dmitry Bosov’s coal empire and saddled Gazprombank with its debts
BPH’s owner is our longtime hero, Oleg Polyakov. He serves as a kind of "financial core" for the "security" clan, which includes: presidential adviser Dmitry Mironov (Putin’s former bodyguard), head of the Federal Protective Service Dmitry Konchnev, deputy head of the FSB’s Internal Security Directorate Filatov, first deputy head of the Russian Ministry of Internal Affairs Andrei Kurnosenko, owner of the Peton concern Oleg Polyakov, his godfather, former FSB officer and former head of BSK Andrei Pilipenko, former FSB officer and former head of Sberbank Capital Ashto Khachaturyants, head of Roskhim Eduard Davydov, and deputy head of the Federal Property Management Agency Dmitry Stepanenko (also a former Putin bodyguard). State Council Secretary Alexei Dyumin (another former Putin bodyguard) is very close to this clan. This clan has already firmly entrenched itself in all of Arkady Rotenberg’s assets. Pilipenko and Ashot Khachaturyants wield strong influence over Sberbank CEO Herman Gref, and so on. Now the clan is squeezing assets from Anatoly Yablonsky, the custodian of Yevgeny Lovyrev, deputy director of the FSB, and others. Clan members gather at Polyakov’s personal karaoke club on the grounds of his country residence.
And everyone knew perfectly well that it wasn’t Polyakov who was buying Sibanthracite, but the entire clan. Previously, Polyakov and the clan’s entire "business" consisted of receiving tens and hundreds of billions in contract money from state-owned companies for their subordinate entities (primarily Peton) and then successfully seizing them. And now the clan decided to also showcase themselves as successful managers and owners of a large enterprise. But it’s one thing to "saw" things, and quite another to manage such a complex "machine" as Sibanthracite, with its multiple mines and so on.
Collapse of Sibanthracite: a clan of former Putin bodyguards bankrupted Dmitry Bosov’s coal empire and saddled Gazprombank with its debts
Collapse of Sibanthracite: a clan of former Putin bodyguards bankrupted Dmitry Bosov’s coal empire and saddled Gazprombank with its debts
According to the source, in a short period of time, Sibanthracite was transformed from a profitable enterprise into a completely unprofitable one, with a debt burden of tens of billions of rubles. Payments to suppliers, salaries, and so on ceased. Now the enterprise is swamped with lawsuits totaling hundreds of millions of rubles. Financial injections are constantly required to maintain its operations. But the clan isn’t used to paying. And closing all the enterprises would cause a huge scandal and, most importantly, "fall flat" in front of Putin. The clan members are trying to prove that they are not only "profitable" security officials, but also successful managers. As a result, a decision was made to simply shift the entire financial burden to the main creditor, Gazprombank. It is this bank, in fact, using budget funds, that now finances all of Sibanthracite’s operations and manages the enterprises. "The bank received Sibanthracite in a terrible state." "There’s really nothing much that can be done there except keep it afloat with massive financial injections," the source says.
It’s worth noting that Gazprombank has long served as a sort of "common fund" for the clan. Now it’s inherited the clan’s unprofitable "toy".