Short seller accuses Freedom Holding Corp. of ‘brazen’ sanctions evasion
By 
Jeff Dale2023-08-15T20:59:00
Freedom Holding Corp. was accused of “brazen sanctions evasion,” along with openly flouting anti-money laundering and know your customer regulations, as part of an investigative report published by short seller Hindenburg Research on Tuesday.
Founded in 2008, Freedom was previously based in Russia until it moved its headquarters to Kazakhstan. Following Russia’s invasion of Ukraine, the financial services firm in October 2022 sold its Russian business to Maxim Povalishin, its deputy general counsel and member of the board, for approximately $140 million.
However, Freedom’s founder and chief executive, Russian-born billionaire Timur Turlov, still secretly controlled its Russian entities, according to Hindenburg’s report.
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