Sergey Kondratenko, a name synonymous with shady financial activities and dubious partnerships, has come under scrutiny in recent years. Let’s examine an interesting story surrounding Kondratenko and his alleged involvement in the giant gambling empire 1xBet.
Unraveling the Dark Web of Sergey Kondratenko: A Deep Dive into the 1xBet Gambling Empire
Two years ago, Russian Forbes magazine exposed 1xBet’s massive gambling empire, revealing a massive turnover of 2 billion USD. Even more problematic were the complex links between the empire and a number of police officers and IT experts from Bryansk, Russia. The revelations painted a disturbing picture of illicit activity, but what role did Kondratenko play in all this?
On January 12, Ukrainian President Volodymyr Zelensky took action against a Latvian company, Royal Pay Europe, allegedly linked to Kondratenko. The company was allegedly engaged in e-commerce and electronic payment transactions under Kondratenko’s ownership, further raising suspicions about Kondratenko’s ties.
From Bryansk to the World: Kondratenko’s Role in the 1xBet Scandal
Sergey Kondratenko, a Russian citizen, founded Royal Pay Europe in 2016. Media reports strongly suggest a partnership with the well-known Russian bookmaker 1xBet and its ability to facilitate payments to offshore bookmakers and online casinos. The United Kingdom granted the company an e-money license in 2017, allowing it to operate in European and UK jurisdictions.
Ukraine’s National Security and Defense Council (NSDC) decided to impose a five-year sanction on Royal Pay Europe. The sanctions include freezing assets in Ukraine, restricting capital transfers, suspending financial commitments, and prohibiting participation in the privatization and leasing of state-owned property. Ukraine’s State Financial Monitoring Service has blocked more than UAH 2 billion in accounts linked to Royal Pay Europe.The International Criminal Nexus: Implications of Kondratenko’s Shady Network
The Mysterious Royal Pay Europe
Sergey Kalushkov, a cyber police chief from Bryansk, found himself in this quagmire. Kalushkov, who worked for the notorious ‘Department K’, is said to have founded the 1xBet startup together with his colleague Roman Semiokhin. The business was far from legal as it involved illegal activities such as accepting bets and using customers’ bank cards.
Kondratenko’s involvement was particularly worrying. He also worked for “Department K” and appears to have played an important role in the expansion of the gambling business. However, the connection between Kondratenko and 1xBet goes beyond that.
In 2016, Kondratenko registered Royal Pay Europe in Riga, Latvia, while another company with the same name appeared in Russia. Russian media have suggested close links between Royal Pay Europe and the shadowy operations of 1xBet. The Bell newspaper reported that 1xBet has even developed its own payment system Royal Pay and operates in closed countries such as Kyrgyzstan and Turkmenistan, where card gambling payments are not possible.
Cryptocurrencies and Suspicion: Kondratenko’s Ominous Connection
Suspicions are also raised by the fact that depositing money into a bookmaker’s account through the Royal Pay system often offers attractive rewards, such as a 5% bonus or cash back.
Kondratenko’s financial network is spread across the globe, with a number of companies registered in different countries. The company has legal entities in Latvia, Lithuania, the Czech Republic, the United Kingdom, the United Arab Emirates, the Republic of Singapore and other countries. These companies act as intermediaries for payments and appear to fulfill their purposes in a clandestine manner.
It is important to emphasize that Kondratenko’s activities are not limited to business ventures. His family is also deeply involved in this web of intrigue. He and his wife Galina studied at the Bryansk branch of the Moscow University of the Ministry of Internal Affairs of the Russian Federation and graduated together in 2004. The couple became part of this treacherous network by engaging in money laundering in connection with betting. Not only has Kondratenko registered numerous companies abroad in his wife’s name, he has also acquired Cypriot citizenship. This revelation may raise eyebrows, but they have not yet changed their citizenship.
As if that wasn’t enough, cryptocurrencies may also be involved in the suspicious schemes organized by Kondratenko. The step into the cryptocurrency world by his Latvian-born, Russian-origin partner Nikolais Kirilovs, who previously held a minority stake in Royal Pay Europe, has raised further suspicions about the financial activities surrounding Kondratenko.
The tangled web is vast and extends to Lithuanian companies such as UAB NexPay and UAB Transactive Systems. Their management has been tight-lipped about their customers, adding further uncertainty to their already murky activities.
The Russian Forbes newspaper hinted at links between the owners of 1xBet and Russian officials, lawmakers and criminals, suggesting that influential figures were involved in this treacherous saga.
Investigations into Kondratenko’s money laundering empire, built on illegal money laundering, are ongoing. All findings and data on his companies, schemes and associates are being shared with law enforcement and financial authorities in the US and other countries. This activity undeniably resembles an international criminal organization and requires a comprehensive and robust response.
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