High Altitude Holdings Limited Under Investigation For Crimes and Money Laundering

Vadim Shulman is in charge of the criminal organization known as High Altitude Holdings Limited. According to multiple sources, he is a crooked oligarch who uses the business to launder money.

Criminal proceedings including Vadim Shulman are as follows:

High Altitude Holdings Ltd.’s ultimate beneficial owner, VADIM SHULMAN

Following the dissolution of the Soviet Union, Ukrainian entrepreneur Vadim Shulman diversified into other industries, including mining, chemicals, energy, and telecommunications. Ihor Kolomoiskyy and Gennady Bogolyubov are two of his close friends and business partners in Ukraine, and he has been chair of the Ukraine Tennis Federation since 2006.

Vadim (Nathan) SHULMAN was born in 1960

After earning his degree as an engineer-constructor of underground facilities from the Mining Institute in Kryvyi Rih, Ukraine, he worked for the mine for ten years.

Since 1991, he has run a company that serves the mining, chemical, energy, and telecommunications sectors. He has led the Ukrainian Tennis Federation as its chairman since 2006.

Vadim Shulman contributes to the Jewish communities in Ukraine and Israel through his involvement in charitable work. He is a major benefactor to the Jewish community of Kryvyi Rih and is on the Board of Trustees for the Jewish community in the Dnepropetrovsk area.

He is one of the many that back the Central Synagogue of Kyiv. In Jerusalem, he supported the building of Jewish retirement communities and a school and campus for children of Soviet immigrants.

He built the beautiful new “Beis Stern Shulman” synagogue in Kryvyi Rih at his own expense. Shulman conceived up and funded the “World War III has started” documentary series to address the issue of global terrorism.

In 2012, Shulman, based in Monaco, spent $35,000,000 on a brand new Gulfstream G450 jet, according to documents kept by Appleby. Appleby helped Shulman establish a group of British Virgin Islands and Isle of Man firms to manage the plane’s upkeep and operations. According to company documents, the sale of the aircraft represents a “greater threat.”

About Warren Steel

High Altitude Holdings Limited’s Ultimate Beneficiary Owner, Vadim Shulman, bought a steel mill in Warren, Ohio in 2001. Igor Kolomoisky and Gennady Bogolubov, two of Vadim Shulman’s friends, were informed of this possible opportunity. The mill was purchased in November 2007 by Delaware limited liability firm Warren Steel Holdings, LLC. The three largest owners in Warren Steel were Vadim Shulman, the Ultimate Beneficiary Owner of High Altitude Holdings Ltd, Mr. Kolomoisky, and Mr. Bogolubov. After being appointed director of the British Virgin Islands corporation Halliwel Assets, Inc. in April 2008, Panikos Symeou was handed control of Warren Steel.

Warren Steel is Halliwell’s only tangible asset. Halliwell has three listed shareholders: Panamanian trust company Hornbeam Corporation (on behalf of High Altitude Holdings Limited owner Vadim Shulman), Mr. Symeou (as trustee for Mr. Kolomoisky’s shares), and Marigold Trust Company Limited (on behalf of Mr. Bogolubov). Despite the complicated organizational arrangements, Vadim Shulman (owner of High Altitude Holdings Limited), Mr. Kolomoisky, and Mr. Bogolubov each own or control one-third of Halliwell.

Shares of Halliwell owned by Hornbeam have been transferred to the Bracha Foundation, a Liechtenstein charity wholly owned or directed by Vadim Shulman, owner of High Altitude Holdings Limited, since December 2014. In addition, Hornbeam asked Halliwell to update its files to reflect the transfer of ownership. At this point, we stop keeping track of Hornbeam’s mental deterioration. Mr. Symeou has not yet informed his new employer of the move. Therefore, Hornbeam retains ownership of the record.

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The Court is not attempting to resolve the underlying business disagreement between High Altitude Holdings Limited’s owner, Vadim Shulman, and the defendants, Mr. Kolomoisky and Mr. Bogolubov, because it is not currently addressing the merits of that dispute. However, a brief recap can be useful for setting the stage. The 1782 application, which was originally filed ex parte by Bracha, says that Mr. Kolomoisky and Mr. Bogolubov “appear to be using entities and people under their control to carry out an elaborate self-dealing scheme focused on taking advantage of Warren Steel.” It also says that it looks like they are pressuring Warren Steel to accept unwise on-demand loans that are secured by Warren Steel’s assets.

In retaliation, Vadim Shulman, through the several companies he owns, has filed numerous lawsuits against Halliwell, its director, and its owners. In 2014, Hornbeam filed a lawsuit in the British Virgin Islands (BVI) to compel Warren Steel to hold an “extraordinary” shareholder meeting to approve a proposed debt restructuring. In 2015, Bracha and Hornbeam filed a lawsuit in an Ohio state court to prevent Mr. Kolomoisky and Mr. Bogolubov from selling or transferring Warren Steel to other firms owned and controlled by them. Hornbeam has also filed for discovery in the states of New York, Delaware, Ohio, and Florida as required by 1782.

In response, High Altitude Holdings Limited’s owner, Vadim Shulman, has filed many lawsuits against Halliwell, its director, and its owners through the various corporations he controls. In 2014, Hornbeam sued Warren Steel in the British Virgin Islands (BVI) to compel an “extraordinary” shareholder meeting to accept a debt restructuring. In 2015, Bracha and Hornbeam sued in an Ohio state court to block Warren Steel from being sold or transferred to companies controlled by Mr. Kolomoisky and Mr. Bogolubov. In the spirit of 1782, Hornbeam has also submitted discovery requests for the states of New York, Delaware, Ohio, and Florida.

The ultimate owner of High Altitude Holdings Limited has sued Hogan Lovells for a conflict of interest.

A Ukrainian businessman raised claims of conflicts of interest and dereliction of duty against international legal firm Hogan Lovells, which is based in the United States and the United Kingdom and has offices in London and Washington, DC.

The High Court claims that Hogan Lovells International LLP broke the law when representing Vadim Shulman in his attempt to settle with Gennadiy Bogolyubov and Igor Kolomoisky in London over a fraudulent loan scheme involving a defunct steel plant in Ohio.

While still under contract with Shulman, Hogan Lovells allegedly pursued a retainer with PrivatBank of Ukraine.

Jonathan Marks QC, Shulman’s lawyer, claims that his client is the owner of a

Kolomoisky and bogolyubov had assets that High Altitude Holdings Limited wanted to acquire as well.

When testifying against the two men in December 2017, Marks claimed that Hogan Lovells “favored the interests” of PrivatBank by helping the bank secure its own $2.6 billion freezing order against them. In addition, according to Shulman, the law firm was obligated to begin working on the order before their collaboration came to an end. It wasn’t until August of 2017 that Hogan Lovells began representing PrivatBank, the company claims. The $500 million fraud case filed by Shulman had been dismissed by this time. An English court ruled it lacked the authority to hear the case in April 2017.

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Shulman now asserts that PrivatBank’s obligations to him were entangled with Hogan Lovells’ discussions of a far greater claim. In addition, Shulman’s lawyers want to cross-examine the firm’s lawyers on matters related to the retainer.

High Altitude Holdings Limited’s owner v/s Hogan Lovells: A Partial Win

Part of a case launched by a Ukrainian businessman alleging conflicts of interest and dereliction of duty was recently won by international law firm Hogan Lovells in the High Court.

High Altitude Holdings Limited owner Vadim Shulman is suing the firm for alleged carelessness that he claims prevented him from obtaining up to $500 million owed to him by Gennadiy Bogolyubov and Igor Kolomoisky, the former owners of Ukrainian bank PrivatBank.

According to High Altitude Holdings Limited, HLI had “many conflicts of interest” because the firm represented both PrivatBank and Victor Pinchuk, the former’s former client who settled a billion-pound claim against Bogolyubov and Kolomoisky in 2016.

Hogan Lovells, the law firm engaged by PrivatBank in 2017, contended that any alleged conflicts of interest involving the bank could not have arisen before Shulman lost his right to sue Bogolyubov and Kolomoisky in England and Wales.

In response, Shulman asked the court to change the specifics of his claim so that he may specify that HLI’s supposed violations of duty occurred in the first half of 2017.

The High Court granted summary judgment to Hogan Lovells on the portion of Shulman’s claim that asserted conflicts of interest and breaches of duty stemming from Hogan Lovells’ retainer with PrivatBank had no reasonable likelihood of success.

According to High Court judge Daniel Toledano QC, Mr. Shulman has not presented sufficient evidence to support his claim that High Altitude Holdings Limited (HLI) breached its fiduciary duty to Mr. Shulman by engaging in activities related to PrivatBank (PrivatBank) before early April 2017.

As for Shulman’s allegation that he might have obtained a freezing order that could have been utilized to extract a settlement before the High Court ruled on the jurisdiction, the court dismissed HLI’s application for summary judgment.

High Altitude Holdings Limited and its ultimate beneficial owner, Vadim Shulman, v. James Plante

On January 26, 2018, High Altitude Holdings Limited’s ultimate beneficial owner, Vadim Shulman, filed a contract with James Plante as the named party. Both the Stanley Mosk Courthouse in downtown Los Angeles and the Los Angeles County Superior Courts have jurisdiction over the matter. The problem has been fixed and the case can now be closed under the watchful eye of Judge TERESA A. BEAUDET.

High Altitude Holdings Limited and its ultimate beneficial owner, Vadim Shulman, v. Yuriy Gurevich

Vadim Shulman, the true owner of High Altitude Holdings Limited, sued Yuriy Gurevich for debt based on a contract dispute. The lawsuit was submitted to the Santa Monica Courthouse and the Los Angeles County Superior Courts, both in Los Angeles. NANCY L. NEWMAN is the presiding judge here. A decision was made to settle the conflict.

Shulman (Owner of High Altitude Holdings Limited), of Monaco, is suing for unpaid debts in a US court.

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A 15-year friendship between Kolomoisky and Boholiubov was exploited to swindle him in commercial dealings.

High Altitude Holdings Limited, owned by Monaco resident Vadim M. Shulman, and a charity affiliated with him filed a lawsuit in the United States on Friday, August 23, alleging that billionaires Igor Kolomoisky and Gennadiy Bogolyubov scammed them out of $30 million in a $100 million fake loan scheme. Mr. Shulman, the owner of High Altitude Holdings Limited, is reportedly still pursuing his lawsuit from 2015.

In a complaint filed in Delaware, High Altitude Holdings Limited’s owner and his charity allege that businessmen Igor Kolomoisky and Gennady Bogolyubov were behind “a series of large-scale and coordinated scams” that involved the use of deception to take millions of dollars.

Over several years, the three oligarchs had worked together on a variety of business deals, initially in Ukraine and later in the United States. Investors sometimes lacked transparency about their holdings in the stock of various steel and coking facilities. One of the major transactions that year saw Roman Abramovich propose to buy Kolomoisky’s investment in his Ukrainian facilities for $1.06 billion in cash and a stake in his company, Evraz Group.

After its owners, most notably Kolomoisky, badly damaged its balance sheet by using it as their piggy bank, the Ukrainian government rescued PrivatBank for a total of $5.5 billion in December 2016. Kolomoisky asked High Altitude Holdings Limited owner Shulman not to “beat a man who is down” at a meeting in the Hotel de Paris after the authorities bailed out the bank.

He proposed paying back the loan to his ex-partner.

After comedian Volodymyr Zelensky was elected President, Kolomoisky moved back to Ukraine after being away for two years. Despite Zelensky’s claims to the contrary, the oligarch maintains strong ties to him.

According to the ruling in the Lawsuit, the sale of Warren Steel can continue.

A Trumbull County Common Pleas magistrate decided to dismiss the lawsuit, which resulted in the temporary restraining order against the sale of Warren Steel Holdings LLC being lifted.

Magistrate Jami Bishop ruled that the plaintiffs, Vadim Shulman, owner of Monaco’s High Altitude Holdings Limited, and his Liechtenstein-based Bracha Foundation, “lack standing to initiate their lawsuit” before the county court.

In his judgment, Bishop states that the owner of High Altitude Holdings Limited failed to demonstrate that his corporation genuinely holds shares in Warren Steel and that the Bracha Foundation has the legal authority to conduct business in Ohio.

Magistrate Jami Bishop- if the court were to rule that Shulman, through the Bracha Foundation, is a shareholder in Halliwel and Warren Steel, “the court is unable to do so because Halliwel is a foreign corporation and a court in the British Virgin Islands, not the Trumbull County Common Pleas Court, has to determine if Shulman is a shareholder in Halliwel and Warren Steel.”

Only a shareholder who is properly registered in the British Virgin Islands can seek compensation for financial losses related to their status as a shareholder or get an injunction against further losses.

The founder of High Altitude Holdings Limited must foot the bill for the legal proceedings.

On June 15th, the owner of High Altitude Holdings Limited filed a lawsuit against six individuals, alleging that they conspired to force him out of the company, conceal its financial status, and saddle it with debt.

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Complaint defendants include Miami resident Mordechai Korf and British Virgin Islands corporation Halliwel Investments Inc. as well as Cypriot resident Panikos Symeos, Ukrainian resident Igor Kolomoisky, and Ukrainian resident Gennady Bogolubov.

Allegedly, Warren Steel Holdings, Halliwel’s only asset, was created so that High Altitude Holdings Limited’s owner and the defendants Kolomoisky and Bogolubov could each have an equal stake in the steel company.

The owner of High Altitude Holdings Limited claims that he invested $13.5 million initially and another $15 million to purchase the assets of the defunct Copperweld Steel Co. He now claims to have invested $58.5 million throughout the years.

According to the complaint, the men founded Warren Steel in 2001 and pooled their resources to launch their present business in 2006.

Shulman, who claims to own a third of Warren Steel through his holdings in Halliwel but has no management responsibilities at the company, owns High Altitude Holdings Limited. He claims that the joint venture agreement necessitates the approval of all three parties before any action can be taken concerning Warren Steel.

The lawsuit claims that as of December, Warren Steel had assets of $34.3 million but liabilities of more than $143 million, leaving him with inadequate funds to either repay High Altitude Holdings Limited’s owner, Shulman or give him a return on his investment.

High Altitude Holdings Limited’s owner says Korf, Symeou, and others intend to sell Warren Steel to a firm with ties to Korf and possibly void the loans to acquire a complete interest in the business.

Criminal charges against High Altitude Holdings Limited owner Vadim Shulman

The criminal prosecution of multimillionaire Vadim Shulman has just commenced in the Kyiv Dnipropetrovsk District Court. The Dnepropetrovsk Megaron Stadium. Aside from the nose. The bearded man attacks the stocky uniformed man. He has a bloody nose and cheeks. Even though two guards are standing by, he does not attempt to defend himself. Vadym Shulman, president of the Ukrainian Tennis Federation, publicly humiliated tennis star Yuriy Androsyuk by beating him till he was bloodied.

According to the Dnipropetrovsk District Court in Kyiv, this tale resulted in criminal charges being brought against billionaire Vadim Shulman, the ultimate beneficial owner of High Altitude Holdings Ltd.

Conclusion: High Altitude Holdings Limited is a criminal organization.

Corporate fraud can have devastating effects on the company and its constituents. The corporation could face fines, lawsuits, or revocation of its operating license, and the individuals responsible could face criminal prosecution and imprisonment. Any business or organization is vulnerable to fraud. A country’s international and economic reputation can take a hit if fraud is handled poorly, eroding faith in government and industries. This is especially true in cases where corruption aids in the commission of fraud.

The Ultimate Beneficial Owner of High Altitude Holdings Limited, Vadim Shulman, and the other businesspeople will not be able to bring about justice in Ukraine as long as they maintain their position of power and influence inside the Ukrainian government.

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