In 1999 the offshore company Tristan Oil Ltd, founded by Anatolie Stati, purchased shares in 2 companies: Tolknynneftegaz and Kazpolmunay.
By the end of 2008 as a result of an investigation made by inspecting authorities the Tolknynneftegaz and Kazpolmunay were accused of the violation of tax legislation. This way Stati broke into a conflict with authorities of Kazakhstan and was forced to make a loan.
Investigation held by Panama Papers revealed some detailes of this multi-million loan.
On 11th of June 2009 the offshore company Laren Holdings Ltd made a $60 million loan on the surety of Anatolie Stati and 8 his companies. The loan was offered by a creditor group together with the fund Renaissance Securities Limited (Cyprus). The loan was taken just in a day after registration of Laren Holdings company (10th of June 2009\BVI).
According to RiseMd, Laren Holdings intended to use the $60 million funds in the following ways: $27 million were to be transfered to offshore company Montvale Invest Ltd, owned by Anatolie Stati. In its turn, Montvale was supposed to transfer the money to another company owned by Stati - Tristan Oil - to pay the tax debt to Kazakh authorities.
Another $30 million were to be paid to Stichting Security Trustee (Holland) for the aim of purchasing securities of Tristan Oil at value four times less of its real value. Shareholders of Tristan Oil protested against the decision to issue new securities and to sell them at that price.
Stati is a tax dodger
The loan of $60 million had to be paid off by Laren Holdings no later than at 11th of December 2009, but by this date only $10 million were extinguished. Anatolie Stati explained to creditors that the delay is causes by the conflict with Kazakh government and promised to fulfill his obligations as soon as the conflict will be ceased.
However, in July 2011 the lenders were informed that Komet Group SA, owned by Anatolie Stati, made a transaction in amount of $400 million after the trade of 60% shares of oil pool Barda Rash (Kurdistan) to British company Afren. On 25th of August a representative of Renaissance Securities contacted Anatolie Stati in order to discuss the recent transaction and the possibility of loan reimbursement. This cut Stati's claws as he wasn't ready to discuss the transaction, so he decided to ignore the loaners. At 20th of September 2011 the creditors sent him an official note demanding the accordance on reimbursement from the funds obtained in Afren affair. The final sum together with interests was $93 million. Stati ignored them again, forcing the group to appeal to court.
On 26th of December 2011, after examining the claim lodged by Renaissance Securities Limited, Atlas Global Asset Holdings and Stichting Security Trustee against Ascom Oil Company Ltd, Anatolie Stati and Laren Holdings Ltd, the Eastern Caribbean Supreme Court arrested assets of Ascom Oil Company Ltd (founded by A.Stati) and Anatolie Stati in amount of $90 million situated on British Virgin Islands.
On 3rd of October 2011 the lawyer of Stati and Ascom Oil informed the creditors that the affair with Afren was signed, but not yet finished. This showed that Stati and Ascom Oil have no intention of withdrawing $90 million funds from Virgin Islands.
On October, 12 in 2011 Mossack Fonseca issued a certificate stating that Ascom Oil Company is "clear".