Said Kerimov, son of the well-known Russian oligarch, member of the Federation Council Suleiman Kerimov, became the sole owner of the gold mining company Polyus. Of the co-owners, the Swiss company PG Trust was excluded. This firm was a link in the whole chain of possessions of the "Pole", through various kinds of firms, including offshore ones. The owners of the Swiss firm are the brothers Philip and Alexander Studhalter.

The latter is now under arrest in connection with the case of Suleiman Kerimov, also arrested by the French police. Both policemen are suspected of fraud with real estate and money laundering. The investigation believes that the Studhalter is the intermediary of Kerimov. Suleiman Kerimov was detained by the French police at the Nice airport on November 21, 2017. Kerimov is a member of the Federation Council from Dagestan since 2008, his assets, according to Forbes, cost $ 1.6 billion in 2016, and $ 6 billion in 2017 , 3 billion.

It is no secret for the market participants that it was Suleiman Kerimov that managed the company Polyus. Although, at the same time he was a civil servant. But in Russia, one does not interfere with one another. PJSC Polyus is the largest gold producer in Russia and one of the top 10 global gold mining companies. The cost price of production at the enterprises of "Polyus" is considered one of the lowest in the world. The company has the second largest gold reserves in the world (proven and probable reserves of the international classification are 71 million ounces). News about Said Kerimov was preceded by one more.

From the partnership with the "Pole" decided to go Chinese company Fosun. She terminated the agreement to buy a 15% stake in the largest Russian gold miner.
This can only talk about one thing. The Chinese do not want to interfere in the international conflict because of Kerimov-seniors, so they refused such a partnership.
In addition, the financial affairs of the gold-bearing firm Kerimov look very unattractive. And, as independent experts think, unattractive at all. There are explanations for this. Kerimov and the company took possession of all the largest gold deposits in the country. They took possession of it, but only business in these fields, to put it mildly, leaves much to be desired.

Natalka

At one time, Suleiman Kerimov practically without a competition took possession of a large Natalka deposit in the Magadan region. Why no contest? Because Kerimov has very influential friends in the Russian government. Actually, this is what stopped everything. For more than a year Natalka was not mastering at all. This provoked the wrath of the regional authorities. Sharp statements about the owners of the deposit allowed himself, even usually restrained in the emotions of the governor of Kolyma Vladimir Pechenyi.

"We would like to get clear explanations from Polyus Gold's management about their further plans to develop the Natalka deposit, as this is one of the priority investment projects on the territory," he said publicly.

Sam Kerimov tried clumsily to justify himself. Like, the development of Natalka is delayed by the fact that geological work was incorrectly carried out. But this in the eyes of market participants looked childish babble. After all, the same geologists hired Kerimov himself. Did he not control the progress of the work? Or let them take their course? And, maybe, at this, the most important stage of development of gold reserves, there was a banal "sawing"?

Dry Log

Approximately the same story happened to the largest in the country gold-bearing deposit Sukhoi Log, which is in the Irkutsk region. Kerimov also thanks to a powerful lobby in federal structures, almost without a competition, took possession of the deposit. Then, realizing that there was not enough financial resources for his development, he created a consortium with such a solid office as Rostek Sergei Chemezov. Do you think that after this business has moved? No! For two years of ownership of Dry Log, even the most necessary infrastructure was not even created there: road and railroad access roads, household conditions for gold miners, and so on.

The reason is the same. To develop the Dry Log, at least 6 billion rubles of investment is needed. The Kerimov family does not seem to have that kind of money. In this regard, it is probably not by chance that the Kerimovs recently decided to place shares on the same Moscow stock exchange again. What for? And then, to increase the company's total book value. Here is what it is. The shares that were put into free circulation were mostly purchased by Polyus Gold International Limited (PGIL). Even by name it is clear that it is controlled by the Kerimov family. That is, one family firm bought up shares of another family firm on the stock exchange. Capitalization, of course, has grown dramatically, as the image of the office itself.

Back to the Alpine mountains

Returning to the above brothers Studhalteram. They were the main custodians of Suleyman Kerimov's charitable foundation Suleyman Kerimov Foundation. They were still the keepers. For example, it is for sure that a fashionable 5-star hotel with the corresponding price tags of its rooms was built on charity money collected in the Kerimov homeland in Dagestan.

Specifically, the fund's charitable activities, at least in open sources, are not reported anywhere. But about the 5-star hotel has already unsubscribed all, to whom not laziness. And now here PJSC "Pole" discards Swiss partners. Probably, having paid them the proper compensation.