Boris Fyodorov Explained

Boris Fyodorov
Order:Deputy Prime Minister of Russia
Term Start:23 December 1992
Term End:20 January 1994
President:Boris Yeltsin
Premier:Viktor Chernomyrdin
Term Start2:14 August
Term End2:28 September 1998
Order3:Minister of Finance of Russia
Premier3:Viktor Chernomyrdin
Term Start3:26 March 1993
Term End3:26 January 1994
Predecessor3:Vasily Barchuk
Successor3:Sergei Dubinin
Order4:Minister of Finance of the RSFSR
Term Start4:18 July
Term End4:15 September 1990
Premier4:Ivan Silayev
Predecessor4:Andrei Bobrovnikov
Successor4:Igor Lazarev
Birth Date:13 February 1958
Birth Place:Moscow, Union of Soviet Socialist Republics
Death Place:London, England
Party:Communist Party of the Soviet Union (until 1991)
Profession:Economist
Native Name Lang:ru

Boris Grigoryevich Fyodorov (Russian: Борис Григорьевич Фёдоров; 13 February 1958 – 20 November 2008) was a Russian economist, politician, and reformer.[1]

Early life

He was awarded a doctor of economics degree from the Moscow Finance Institute and authored over 200 publications.

Career

In 1988 working very closely with Fyodorov, Alexander Zhukov, and Kirill Ugolnikov (Russian: Кирилл Угольников), Deloitte & Touche began providing services to the Soviet Union and continued with Russia.[2]

Fyodorov was Minister of Finance of the Russian SFSR (as a constituent of the USSR) in 1990. From 1991 to 1992 he worked for the European Bank for Reconstruction and Development in London. In 1992 he became director of the World Bank. He served as Finance Minister of Russia from 1993 until 1994, when he resigned. While he was at the Ministry of Finance (MinFin), he brought to MinFin Segei Aleksashenko, Andrey Kazmin, Igor Selivanov, and Mikhail Kasyanov.[3] [4] [5] [6] Fyodorov was a member of the State Duma between 1994 and 1998. From 14 August 1998 until 28 September 1998, he became a tax minister and Deputy Prime Minister of Russia during the Russian financial crisis which began on 17 August 1998.

United Financial Group

In 1994, he and Charles Ryan, a United States banker and Libertarian, founded United Financial Group (UFG), an investment bank with Charles Ryan as its chairman, which, in 2005, was sold to Deutsche Bank.[7] [8] United Financial Group was established with a Moscow-based parent firm and an Isle of Man based United Financial Group firm managing its shell companies around the world. The address of the Isle of Man-based UFG firm is the same address as the Isle of Man office of Deloitte & Touche.[2]

Fyodorov was a member of various boards including Gazprom, Sberbank and Ingosstrakh.

In February 2002, while Fyodorov was an independent director of Gazprom, he stated that PricewaterhouseCoopers (PwC) signed off on poorly performed audits of natural gas firm interactions such as Gazprom-Itera because PwC wanted to keep the account with Gazprom saying "If an auditor knows it cannot do a proper review, then it is just doing it for the money." Further, he said that any audits by Deloitte & Touche into the Gazprom-Itera interactions were strongly opposed by Gazprom management.[9]

He was also a general partner of UFG Private Equity starting from 2006.

Fyodorov died from a stroke on 20 November 2008 in London, England, at the age of 50.[10]

Notes and References

  1. https://www.britannica.com/biography/Boris-Grigoryevich-Fyodorov Boris Grigoryevich Fyodorov
  2. News: Тот еще консультант. Тот еще консультант! Аудитор Всемирного банка уличен в компрометирующей связи с Борисом Федоровым . He's still a consultant. What a consultant! World Bank auditor convicted of compromising connection with Boris Fedorov . ru . "Российская газета" (rg.ru) . 7 July 2001 . 23 July 2021 .
  3. News: Миронов . Максим (Mironov, Maxim) . Разговор с Сергеем Алексашенко о 90-х и не только . Conversation with Sergei Aleksashenko about the 90s and not only . ru . . 10 September 2018 . 27 March 2021.
  4. Web site: Сергей Алексашенко . Sergey Aleksashenko . ru . ООО «Сноб Медиа» (Snob) . 27 March 2021.
  5. News: Велехов . Леонид (Velekhov, Leonid) . Сергей Алексашенко: "У нас сегодня в стране абсолютная монархия" . Sergey Aleksashenko: "We have an absolute monarchy in our country today" . ru . . 7 November 2015 . 27 March 2021.
  6. Web site: http://fa100.ru/person/15718 . ru:Селиванов Игорь Андреевич . Selivanov Igor Andreevich . ru . . 27 March 2021.
  7. News: Is Donald Trump's Dark Russian Secret Hiding in Deutsche Bank's Vaults?. December 21, 2017. Newsweek. Harding. Luke. Luke Harding. October 17, 2018.
  8. News: Former MI6 chief Richard Dearlove says Donald Trump borrowed money from Russia during 2008 financial crisis: Days before taking office, Mr Trump said Russia had never had any 'levarage' over him. April 14, 2017. The Independent. Sampathkumar. Mythili. October 17, 2018.
  9. News: Starobin . Paul . Belton . Catherine . Catherine Belton . Gazprom: Russia's Enron? Gazprom and PricewaterhouseCoopers are under fire . . 18 February 2002 . 17 August 2021 . 15 February 2002 . https://web.archive.org/web/20020215085048/http://www.businessweek.com/magazine/content/02_07/b3770079.htm.
  10. https://www.nytimes.com/2008/11/22/business/worldbusiness/22fyodorov.html Boris Fyodorov, 50, Dies; Guided Reforms in Russia