Russia puts former communications minister Nikolai Nikiforov on wanted list over Finiko case

The Russian Interior Ministry has put former Minister of Communications and Mass Media Nikolai Nikiforov on its wanted list. For high-risk payment teams, the detail that matters is simple: the case sits inside a large-scale fraud probe tied to Finiko, a scheme that promised returns and drew thousands of victims before stopping payouts.

1. According to the ministry’s wanted database, Nikiforov is now officially listed as wanted in Russia. He was previously charged in absentia in the Finiko criminal case.
2. Investigators say Nikiforov was one of the creators of Finiko. The Interior Ministry has charged him with organizing a criminal group and especially large-scale fraud. After leaving office in 2018, he has been living in the UAE.
3. Finiko was created in Tatarstan. From June 2018 through December 2020, its organizers raised funds from investors while promising returns of up to 25% per year. The company later stopped paying dividends.
4. About 8,000 people were listed as victims, and the Interior Ministry estimates their total losses at roughly 5 billion rubles.
5. At the beginning of September, Moscow’s Meshchansky Court arrested entrepreneur and designer Azat Tukhvatullin in the same case. Investigators say he was another organizer of the scheme.