The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has enacted sanctions against the founder of a controversial financial services company, along with key associates, for their alleged involvement in illicit financial activities. Among those sanctioned are Elena Chirkinyan and Andrej Bradens, the latter known by the surname Carenoks. Chirkinyan is noted for holding a significant leadership position within the firm TGR, where she is identified as the “second in command” to the founder. In addition to these individuals, four corporate entities—TGR Partners Ltd, TGR Corporate Concierge, TGR DWC LLC, and Siam Expert Trading Company Ltd—have also been added to the sanctions list. These companies promote a variety of financial services and event management options through their websites.
According to statements from the National Crime Agency (NCA), TGR is purportedly serving as a conduit for converting illicit cash into assets that can be integrated into legitimate banking systems. David Lyne from the NCA articulated concerns over the facilitation of funds leaving Russia, particularly funds tied to the state-controlled media outlet RT, a target of sanctions from Western governments. These activities allegedly supported a Russian-language media outlet operating within the UK.
The scope of TGR’s operations suggests a complex web of associated businesses, with numerous legal identities linked to the brand. Historical snapshots of the TGR Partners website indicate a global footprint, claiming office locations in various countries, including the UK, Singapore, and the UAE. However, the most recent iteration of the site only mentions the UK and UAE.
Further scrutiny reveals that TGR Corporate Concierge, another sanctioned entity, was formerly known as TGR Wealth Solutions, as recorded in public company documents. An analysis conducted by WIRED highlights a troubling pattern where numerous companies affiliated with TGR share contact details, legal addresses, and even website aesthetics. This amalgamation raises suspicions regarding their operational integrity.
Moreover, it has been brought to attention that Bradens possesses a significant ownership stake in Pullman Global Solutions LLC, registered in Wyoming, reiterating the interconnected nature of these entities.
Attempts to reach Rossi, Bradens, and Chirkinyan for comments went unanswered, reinforcing the opacity surrounding the operations of these sanctioned businesses. Their online presence is notably sparse, lacking detailed information about their services, and often featuring generic content. Notably, the TGR Partners website includes odd blog posts from early 2020 that lack any relevance to their purported business activities, such as listings of expensive wines and cultural highlights, which suggests a possible facade typical of money laundering cases.
In examining the nature of these operations through the lens of the MITRE ATT&CK framework, several adversary tactics and techniques may apply. Potential methods could include initial access to financial systems through phishing or compromised accounts, persistence via the creation of obfuscated identities, and privilege escalation to navigate complex banking environments. With ongoing investigations, the full extent of TGR’s alleged activities and their implications for the broader financial ecosystem continue to unfold.
