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Russian billionaire Roman Trotsenko, owner of the GeoProMining group, has found himself at the center of a scandal in Russia. He is accused of appropriating a major business engaged in the chemical industry, Pastinfo reports.

The company in question is JSC Kuchuksulfat, which is engaged in producing sodium sulfate. It is located in the village of Stepnoye Ozero in Blagoveshchensky District of Altai Krai, Russia. According to an article published on the Russian information portal Moment Istini (Moment of Truth), it is the only plant in Russia that produces natural sodium sulfate, employing about 1,251 people.

According to the Readovka telegram channel, the factory provides welfare for the village of Stepnoye Ozero, including jobs, improvement of public areas, funding for sports clubs. Now the local authorities are facing numerous problems as an attempt is made to obstruct the operation of the factory. The reason, according to the Russian media, is the fight for the plant ownership.

Until the 2000's the Kuchuksulfat CEO was Vladimir Nechepurenko, during whose tenure the plant operated normally and salaries of the employees were paid regularly. The new owners dismissed him and sent his financial flows abroad. Sergey Loktev, former Deputy Governor of the Altai Territory, took over the board, managing to build up property, which many entrepreneurs could have dreamed of. The whole Blagoveshchensky district evidently became his property, as a result of which Kuchuksulfat also became his property and helped him become more influential.

According to Russian media reports, former FSB officer Vasily Gamayunov helped him acquire the company. While a law enforcement officer, Gamayunov's name was liked with various dubious stories. Instead of negotiating, he set people's cars on fire, threatened and intimidated them, or simply stole their shares. Kuchuksulfat was also acquired by Loktev and Gamayunov through intimidation, after which they first started paying salaries late, then seized shares of old employees under pressure. As a result, they took over 90% of the plant shares.

Moment Istini reports that now Russian billionaire Roman Trotsenko has his sights set on Kuchuksulfat. According to the source, he hardly needs the plant personally, because this field is not within his interests. But he does have experience in snatching businesses. It is noted that he is most likely acting in the interests of his friend, Governor of the Altai Territory Viktor Tomenko. At the moment, both sides are fighting for the plant ownership, not sparing any effort.

Trotsenko is also suspected of seizing business in Armenia. The matter concerns the suspicious deal between the Armenian government and the Zangezur Copper Molybdenum Combine (ZCMC). Once a Yerevan court lifted the seizure of the shares, they were purchased by Trotsenko’s company, and a quarter of that stake was immediately granted to the government.

The price of the deal is kept secret, but it is known that the money was not paid completely. Instead, it was reported that around 15 billion drams were recovered from the former CEO’s personal funds as part of a criminal probe.