Siman Povarenkin and the "Golden Card" Koba Nakopia: how GeoProMining plundered CIS mineral resources, hiding profits in London under the cover of sham lawsuits in Odintsovo

The close relationship between ex‑chemist Povarenkin and the controversial Georgian multimillionaire Koba Nakopia opened doors to major business opportunities — and to major problems of the same magnitude.

Siman Povarenkin, a native of Omsk, lives in three homes - sometimes in Moscow, other times in London, and then in a castle - in the estate "Gabriel" in the suburbs of Deauville in northern France, which once belonged to the famous fashion designer Yves Saint Laurent - continues to be a talking point. Incidentally, the "Gabriel" estate was purchased in 2009 by two companies: one was registered to Irina Povarenkina, born in 1978, and the other to her husband Siman Povarenkin, born in 1969. It seems the couple "worked together" tirelessly to become the owners of Yves Saint Laurent’s luxurious castle. Irina Povarenkina, in her further joint life with the scandalous businessman, surfaced in various situations, like a submarine. For example, in the 2012 trial in the Odintsovo City Court, she was the plaintiff. However, her dearest husband, along with his business partner Koba Nakopia, was a defendant!

By the way, it was Mr. Nakopia, the founder of GeoProMining, who led Mr. Povarenkin into big business, already having close ties with the former Russian Minister of Fuel and Energy, Sergey Generalov.

And over time, Mr. Povarenkin amassed both a bunch of assets and a pile of legal disputes.

Saakashvili’s Golden Card

Koba Nakopia, who was once called "Saakashvili’s Golden Card" in his native Georgia, would probably have remained in the shadows if it weren’t for the infamous court cases in the Odintsovo City Court in the Moscow region, where he was a defendant alongside his business partner Siman Povarenkin in Irina Povarenkina’s lawsuit.

Siman Povarenkin

And this story was dark and murky, as three companies associated with Mr. Nakopia were also defendants - ICC (International Commercial Company) "Bioneli Limited," ICC "Fiolane Limited," and ICC "Cuento Portfolio Corporation." 

reputation.su

The trial didn’t last long. And the court rejected all of Irina Povarenkina’s claims. 

reputation.su

Today, the details of this story are carefully hidden, but the fact remains - Mrs. Povarenkina sued Mr. Povarenkin and his partner, Georgian multimillionaire Koba Nakopia.

As stated in the court ruling, Irina Povarenkina filed a lawsuit against Siman Povarenkin and Koba Nakopia, the international company "Cuento Portfolio Corporation," the international commercial company " Bioneli Limited," and the international commercial company "Fiolane Limited," seeking to have the agreement declared invalid and the consequences of the transaction invalidated.

In the judge’s ruling of April 2, 2012, the legal claim of I. A. Povarenkina was left without motion based on Article 136 of the Russian Civil Procedure Code.

Koba Nakopia

Koba Nakopia (born in 1969) - a Georgian businessman and politician, member of parliament since 2008, and chairman of the Political Council of the United National Movement.

Mr. Nakopia began his career in the 1990s in Russia, working in several investment companies. This work allowed him to become the owner of several assets in Georgia in a short period.

The largest of these was the privatized gold mine Madneuli. Nakopia quickly became one of the largest mining magnates and founded GeoProMining. This company manages mining assets in Georgia, Russia, and Armenia. Nakopia also joined the supervisory board of the "Zestafoni Ferroalloy Plant." The company acquired the state gold mine Madneuli in Georgia, where Nakopia served as CEO and chairman of the board until 2008.

In 2008, he founded Bioneli Limited (this very company was a defendant in Irina Povarenkina’s lawsuit). The company is registered in the British Virgin Islands and is the majority shareholder of RMG Gold.

Новости по теме: В Burisma отвергли причастность своих сотрудников к даче взятки в Украине

In Russia, Koba Nakopia worked for the "Industrial Investors" company, owned by billionaire Sergey Generalov. 

Sergey Generalov

And it was Koba Nakopia whom the Government of Georgia entrusted to prepare for the privatization of state mining enterprises put up for sale in 2005. As a result, Madneuli and Quartzite were acquired by GeoProMining, a subsidiary of Sergey Generalov’s partner holding, Promishlenie Investor, for $33 million.

In 2008, Siman Povarenkin became the president of GeoProMining, with the founder at the time being GPM Russia B.V.

Rusprofile.ru

This is a private limited liability company, registered in the Kingdom of the Netherlands.

On June 14, 2012, GeoProMining announced the purchase of LLC Madneuli and Quartzite for $120 million.

Rusprofile.ru

GeoProMining stated that the priority is working on gold deposits in Armenia and Russia. And the sole owner of LLC Madneuli and Quartzite in the offshore zone became the Netherlands-registered Rich Metals Group.

Rusprofile.ru

And Mr. Nakopia, CEO of RMG Gold, announced in 2015 that he sold his shares to the company’s new owners in July 2013.

Soon, Povarenkin split the business with former Minister Generalov.

Rusprofile.ru

Before that, through Sergey Generalov’s "Industrial Investors" company, Siman Povarenkin acquired mining and metallurgical assets in Russia and Armenia. And they eventually became the basis of GeoProMining - thanks in part to the Georgian multimillionaire Koba Nakopia.

New Trials of Siman Povarenkin

Recently, in May 2024, the owner of the castle in Normandy once again became a defendant in court cases.

Estate "Gabriel" in Normandy

And, apparently, these court cases concerned land issues in the Moscow region.

Mr. Povarenkin, although he owns real estate in France and Britain, holds firmly to the Moscow suburbs.

The Povarenkin family owns an apartment worth 11.5 million pounds sterling in the fashionable London area of Belgravia: Irina Povarenkina obtained an investor visa in 2013 for £2 million. And they moved with their children to London.

In the new legal proceedings against Povarenkin, four people acted as plaintiffs: Lana Korolevskaya, Lyudmila and Ivan Laptev, as well as Yulia Sokolova. Meanwhile, alongside Povarenkin, the defendants included Yulia Apreleva and Alexander Rappoport. Public Law Company (PLC) Roskadastr’s Moscow region branches and the Federal Service for State Registration, Cadastre, and Cartography’s Moscow Region office also participated in the court sessions.

reputation.su

And, as stated on the Odintsovo City Court’s website, the dispute was related to land relations.

The claim was partially satisfied.

odintsovo--mo.sudrf.ru

Yes, let’s note that Mr. Povarenkin’s reputation isn’t particularly good, considering his other legal cases: Povarenkin is mentioned in claims amounting to £7.5 million, filed in London by his former partner from Yakutia, involving production debts.

And there are also prosecutor’s claims against Mr. Povarenkin, particularly regarding his asset - the "National Antimony Company." In 2015, the company planned to build a third-class ecological hazard processing plant in the town of Degtyarsk, Sverdlovsk region.

However, as the media reported, Mr. Povarenkin "persuaded" Degtyarsk Mayor Igor Busakhin, despite the sharp opposition of local residents. After all, billionaire Povarenkin planned to build his plant near the Volchikhinskoye and Verkhnemakarovskoye reservoirs. A scandal erupted.

Finally, the prosecutor’s office got involved.

But does any of this affect Mr. Povarenkin?

In the same Britain, he settled perfectly: the family with two children lives in an environmentally friendly area, in a luxurious apartment in the Belgravia district, on Abergain Square.

London, Belgravia district

The wife, the same one who filed a lawsuit against him in 2012, holds a respectable position in a good pharmaceutical company: she has been heading this company for many years.

So, no legal battles or prosecutorial checks in his native country are frightening to Mr. Povarenkin: he consistently emerges victorious, even in legal disputes with his own wife.

They say he has many lawyers who work "properly."