In Russia Aleksey Kalinichenko is accused of having defrauded four thousand of minor shareholders of his company, including citizens of Russia, Belarus, Ukraine, Germany, Kazakhstan and Israel.
According to Russian mafia portal (rumafia.com), in 2006 Aleksey Kalinichenko established United FX-Traders Group (UTG) Limited Liability Corporation and its daughter company Global Gaming Expo (GGE) LLC. The companies traded the assets of Russian shareholders in the foreign exchange market by trust. In August 2006 GGE stopped paying the shareholders and their accounts in UTG-Account system were frosen. Total damage of the forex scam exceeded 1b roubles ($36). The businessman fled from Russia.
In 2006 Chief Directorate of the Ministry of Internal Affairs for Urals Federal Circuit opened criminal investigation into Kalinichenko’s affairs under Article 159.4 of the Criminal Code of the Russian Federation (“Fraud”). An international arrest warrant was issued. In 2008 Italian police arrested the businessman. However, a court of first instance refused to extradite Kalinichenko on grounds that “Russian authorities did not provide full picture of the consequences of Kalinichenko’s activity”. In October 2009 the Supreme Court of Italy overturned the decision of a lower court and allowed to extradite Kalinichenko. But by that time the businessman had already left Italy.
A few months later Interpol agents found the businessman in Morocco. The authorities of the kingdom agreed on extradition in June 2010, but the ultimate decision was made only in April 2011. According to Russian police agents, Aleksey Kalinichenko applied to various international human right group trying to delay the process. The businessman claimed his life might be at peril because he might be put in Ekaterinburg’s investigation isolation ward N1, where Aleksandr Khabarov, a boss of Uralmash mob, died in strange circumstances.