Business & Finance
Brought to you by: Monaco Life
Russia’s General Prosecutor’s Office has sent a request to the authorities in the UK for the extradition of Georgy Bedzhamov, who faces charges of embezzlement in Russia. Last year Bedzhamov was held in Monaco at the behest of the Russian authorities and later released.
Bedzhamov was a co-owner of Vneshprombank, which at the time of its licence being revoked on January 21, 2016, was Russia’s 40th biggest lender in terms of assets. Interpol has said that it has not put the banker on its wanted list because the prosecution in Russia does not correspond with its goals and objectives.
Bedzhamov’s sister Larisa Markus, the president of Vneshprombank, was arrested on December 22, 2016, on fraud charges. Bedzhamov has also served as the Vice- President of the International Bobsleigh and Skeleton Federation (IBSF), being elected to the post in May 2014.
Bedzhamov was detained by the police in Monaco in mid-April 2016. On July 12, 2016, the Court of Appeal of Monaco refused to extradite him. Bedzhamov is believed to have travelled to the UK and is now in London.
The highly-anticipated Cala del Forte port in Ventimiglia, intended to handle overflow from the Principality, is now officially open, marking a new era for the Italian seaside town and Monaco.
The government has offered a “practical guide” for economic recovery in the Principality, vowing to protect employees as well as assist companies in trouble.
FGWRS, a MonacoTech-supported start-up, is behind a new technology used by French Open players to convert “grey water” into usable non-potable water for showers and toilets.
A new report has revealed that HNWIs, families, family offices, and foundations plan to almost double their allocation to impact investing by the year 2025.
Since its creation in 1987, CTCM has been a major player in supporting seriously ill children by ensuring cardiology diagnosis, surgery and paediatric intensive care. Forty operations are performed each year, sometimes as many as 4 to 5 a week, with a zero percent mortality rate thanks to the expertise of its medical and surgical teams and the dedication of all staff, as well as the involvement of several associations essential to transportation and childcare.
People think it is easy for children, from these countries, like Senegal or Nigeria, to come to Monaco,” Dr François Bourlon said. “But it’s very stressful for these sick children to travel to Nice by plane, and then be transported here to Monaco. And then they have stay with a host family, sometimes for a few weeks but other times for months.”By its direct involvement and financial donation, Barclays Monaco underlines its commitment to helping seriously ill children. “It’s our duty as a major financial institution, local and globally, to help the community and, after the crisis, to be perceived differently,” Mr Grosoli told Monaco Life. “Much like a house without electricity, a society without banks doesn’t work. We need to give more to humanity – more time, more money and more effort – to those in need. After all, nothing is as important as a child’s smile.” Barclays Monaco has been a supporter of the No Finish Line since 2005. [caption id="attachment_5314" align="alignleft" width="300"] Mr Grosoli with 4-year-old waiting for heart surgery.[/caption] [caption id="attachment_5313" align="alignleft" width="300"] The program needs host families.[/caption] Article first published September 30, 2016