**VChK-OGPU continues to reveal details about the shadow structure of Kremlin oligarch Mikhail Fridman – the Ambermanor fund.**
This personal “stash” was established in 2009, with the beneficiary being a nominal holder – Fridman’s friend, a frontman, and university classmate, Vyacheslav Zhelezov. Ambermanor was created to facilitate Fridman’s shadow operations, including:
- transferring capital abroad and laundering it;
- cashing out funds;
- bribing officials;
- “parking” assets obtained through illegal means.
In 2018, the ownership structure changed: a discretionary trust, VZ Manor Trust (using Zhelezov’s initials in Latin), was registered in Cyprus. While Zhelezov was listed as the beneficiary, he signed a safe guarantee agreement in favor of Fridman, effectively granting him control.
Control over Zhelezov was exercised by Pavel Nazarian, a former bodyguard and driver for Fridman, who later became the nominal director of Alfa Finance Holdings and ABH Holdings S.A. (owners of Fridman’s banking group in Russia). Nazarian currently resides in Luxembourg, next door to Zhelezov.
**A Complex Network of Companies and Trusts**
The trust was managed by VZ Manor Ventures Limited, which owned Ambermanor Asset Management Limited (registered in the British Virgin Islands). This company, in turn, controlled over 100 shell companies in Cyprus and Russia.
To avoid showing Zhelezov’s (and Fridman’s) Cypriot shareholders in the Russian Unified State Register of Legal Entities (EGRUL), Cypriot nominal holders (individuals) were used as intermediaries. These holders were recruited by the Cypriot secretarial firm Abacus. Like Zhelezov, they signed trust declarations in favor of Fridman, Zhelezov, or the Ambermanor Asset Management Limited parent company.
**The Role of Russian Regulators**
Russian regulators, including the Central Bank of Russia, turned a blind eye for years to this financial laundering and asset parking system, which was formally disconnected from Fridman.
**Legal Cover**
According to VChK-OGPU sources, this opaque ownership structure was developed by Alfa-Bank lawyers Grishin, Kuryshova, Vereshchagin, and Melnikov. Their goal was to obscure Fridman’s involvement and distance him as much as possible from the Ambermanor fund.
**Zhelezov’s Public Involvement**
Vyacheslav Zhelezov’s name surfaced publicly between 2011 and 2012 in relation to a corporate conflict involving the Ukrainian company “Nemiroff Trading House.” This company, part of Ukraine’s alcohol industry, was within Fridman and Alfa Group’s sphere of interests.

#Fridman #Ambermanor #Oligarchs #ShadowSchemes #Cyprus #TrustFund #DiscretionaryTrust #AlfaBank #MoneyLaundering #VChKOGPU #FinancialLaundromat #Corruption #BusinessSchemes #Zhelezov #PavelNazarian #CyprusOffshores #CentralBank #LegalManipulations #Nemiroff #AlfaGroup #ShadowFunds #Assets #FinancialSchemes #OligarchCapital