‘There are plenty of locals, as well as dwellers of Moscow and Saint Petersburg (some high-ranking government officials among them), who’ve lost their money through the so-called Kalinichenko pyramid scheme,’ Director of NAUFOR’s (the National Association of Securities Market Participants) Ural branch Radik Akhmetshin announced in the course of a press conference on pyramid schemes and the state control over financial and investment institutions.

‘The last alleged location of Mr. Kalinichenko I’ve heard about was Cyprus or Italy; his mobile phone is turned off, his cottage in the vicinity of Saint Petersburg has been sold,’ Mr. Akhmetshin said.