Newly-obtained financial documents reveal that the Russian development company that signed a Letter-of-Intent (LOI) with Donald Trump during his presidential run is at least 60% owned by a Bank of Cyprus lawyer involved in alleged money-laundering operations for the Russian mob boss Semion Mogilevich and Russian oligarch Suleiman Kerimov.

In the 2015 LOI signed between IC Expert and Trump Acquisition LLC, IC Expert Chairman Andrey Rozov falsely certified that he owned 100% of the company. As was recently reported, IC Expert is actually owned by three “mystery” offshore companies — two in Cyprus and one in the Marshall Islands.

Andrey Rozov claimed to own 100% of IC Expert

These new financial documents and open-source intelligence prove that at least one of IC Expert’s Cyprus-based owners, Colinsen Trading Limited, is owned by Christodoulos Vassiliades — a high-profile Cypriot lawyer with links to the governments of Cyprus and Russia, and to the Bank of Cyprus.

Chain of ownership leading to Christodoulos Vassiliades

Vassiliades’s proximity to the Cyprus and Russian governments is well-documented. He and the daughter of the Cyprus President, Nicos Anastasiades, worked as Directors for the President’s law firm. Vassiliades and his law firm have also hosted numerous events for Anastasiades and high-ranking officials in the government.

Vassiliades, left, and Cyprus House Speaker, Yiannakis Homer, right.

During the Bank of Cyprus bailout in 2013 that cost Russian Oligarchs billions in investments, Vassiliades was personally nominated by the head of the Bank of Moscow (now VTB) to become a shareholder in the Bank of Cyprus. The Russian bank was given this power as part of an effort to “bail-in” Russian investors by awarding them shares in the bank. Vassiliades’ 8.37% share was valued at approximately $350 million. Records show that this share was reduced to 5.77% in 2014, and it is unclear what Vassiliades’ current share in the bank may be.

Earlier that same year, an investigation by Russian financial daily Vedomotsi revealed that Vasilliades’ law firm was appointed by the Bank of Cyprus to determine the validity and legality of foreign client operations, such as bank transfers. The report described Vasilliades’ role as a guarantor of capital safety who helped foreigners pass compliance procedures and formalize the ownership structure of assets. The firm was recognized in 2015 for having, “helped [consolidate] excellent relations between the Republic of Cyprus and the Russian Federation.”

Vassiliades obtained 60% ownership of IC Expert through his Cyprus-based company Ionics Nominees Limited. Ownership of the company was transferred to Ionics Nominees in May 2015, days after Rozov was given amnesty by the Kremlin for a negligent homicide charge.

The designated Secretary of Ionics is Pampina Votsi, a Vassiliades Director connected to multiple cases of tax evasion, embezzlement, and money laundering for at least two high-profile Russians — Semion Mogilevich and Suleiman Kerimov.