Daugter Of Kazakh Billionaire Patokh Chodiev (ENRC) Founded A Virtual Business
Kazakhstani-born entrepreneur Mounissa Chodieva founded Vault Couture following a personal need for a wardrobe management system.
Luxury wardrobe management service Vault provides an online virtual inventory of clients’ wardrobes, which can be accessed 24/7.
Mounissa Chodieva, who has a reported net worth of $75 million (£61 million), came up with the idea for Vault after spending a lot of time trying to manage her wardrobe while travelling the world on business.
Chodieva was head of investor and public relations at Eurasian Natural Resources Corporation (ENRC), her billionaire father Patokh Chodiev‘s mining company, but she left in 2014 to focus on Vault. This was after ENRC delisted from the London Stock Exchange in 2013 amid fraud allegations.
Patokh Chodiev is a London-based Uzbek oligarch with Belgian citizenship who, with Alexander Mashkevich and Alijan Ibragimov, is part of the “Trio,” a group of Central Asian businessmen who made their fortune through deals in minerals, oil, gas, and banking in Kazakhstan.
Chodiev is quoted in the case of Panama Papers. According to the newspaper Le Soir, it would be linked to at least twenty-five offshore companies.
Two of his associates, Alexander Machkevitch and Alijan Ibragimov, are also covered by the case. All three had been involved in the case of the first and second “Kazakhgate”. In 2011 they entered into a plea agreement (€ 23 million) with the Belgian court for abandoning prosecutions.
The scandal surrounding mining group ENRC is one of the worst to have ever hit the City, The DailyMail reported. Since leaving London three years ago, ENRC has moved its HQ to Luxembourg and renamed itself Eurasian Resources Group, or ERG.
Recall that the driver of the shake-up is the Kazakh government, which was deeply embarrassed by the storm of negative publicity around ENRC and now holds a 40 per cent stake in ERG, with Bakhyt Sultanov, sitting on the board.