Kirill Androsov

The Pandora Papers leaks found that Androsov was involved in a corruption scandal in the Maldives that cost the country nearly $80 million. Androsov worked with Evgeny Novitsky, who has been associated with organized crime.[1]

Androsov's name appeared in the Pandora Papers and the Paradise Papers along with other Singapore-based Russian businessmen in connection with compliance failures by a Singapore-based firm, Asiaciti Trust. Asiaciti was cited by regulators for its inadequate risk assessment and monitoring of some of the trust structures used by its Russians clients. Many of Asiaciti's clients, including Lang Capital Fund, were set up by closely-linked Politically-Exposed Persons. Androsov was linked to Evgeny Novitsky, a billionaire who has held shares in one of Russia’s largest cellphone networks, and Asiaciti ultimately concluded that Novitsky was actually in control of companies registered to Androsov and that transactions between the two men were suspicious and showed a “lack of economic sense”.[7]

The Monetary Authority of Singapore (MAS) noted that a “series of circular fund flows — including some demonstrating no plausible economic purpose — were allowed to pass through the trust accounts managed by Asiaciti.” In April 2019, Asiaciti staff acknowledged “instances of inconsistencies and transactions that do not make clear economic sense” in relation to its Russian clients.[8] Executives at the firm decided to sever ties with Androsov's companies and planned to file “suspicious transaction reports” with authorities.[7] In July 2020, MAS fined Asiaciti $1.1 million for breaches identified in their investigation. MAS made no findings that Androsov was involved in money laundering or any other illegal activity connected with the trust structures set up and administered by Asiaciti.[9] In October 2021, Androsov told the Australian Broadcasting Corporation that he still does business with Asiaciti.[8]