A St. Petersburg court has taken up a case brought by the Prosecutor General’s Office of the Russian Federation against Sergei Petrov, a noted car dealer associated with the Rolf group, and the founder of the holding that oversees several subsidiaries. The move was announced by the Unified Press Service of City Courts via their Telegram channel, which has become a primary channel for updates on high-profile investigations. The filing marks a significant chapter in ongoing efforts to probe corporate governance and possible abuses of power within the Rolf corporate family.
According to the public statement, the case was submitted in the Moskovsky District Court of St. Petersburg by a deputy attorney general representing the Russian state. The allegations bring a claim for the repurchase of all shares in Joint Stock Company Rolf, which is controlled by the private entities Delance Limited and Rolf Motors LLC, with the state seeking ownership. The action signals a broader effort to redirect assets believed to have originated from improper activities toward public ownership, reflecting the government’s stance on ensuring state control over assets linked to alleged misconduct.
Additionally, the supervisory authority’s representative has pressed for a transformation of 100 percent of the registered capital shares of Rolf Tech LLC and Rolf Estate St. into state revenue. The lawsuit contends that the property in question was acquired through violations of corruption laws and should be confiscated as part of the state’s asset recovery program. This element of the case emphasizes the state’s aim to recover proceeds and resources tied to unlawful activity, aligning with anti-corruption objectives that have been highlighted in recent policy statements and enforcement actions.
Earlier in 2023, President Vladimir Putin signed a decree that temporarily transferred the control of JSC Rolf and its affiliated entities to Rosimushchestvo, the Federal State Property Management Agency. The decree encompassed roughly 15,200 securities of Rolf Motors LLC and more than 660 million shares held by Delance Limited, a Cyprus-registered offshore entity. The move was framed as a precautionary measure to stabilize governance during an ongoing investigation and to ensure that management of these assets remained under state supervision while legal processes continued. Observers noted that the decree could lay the groundwork for a future decision regarding the disposition or repurposing of these holdings, depending on the court’s rulings and the changing legal landscape. This development has been closely watched by legal experts and market participants who are seeking clarity on how the state will manage a complex cross-border ownership structure in a high-profile corporate case.” (attribution: Unified Press Service)
In sum, the case highlights the Russian authorities’ intensified scrutiny of major business conglomerates with ties to the automotive sector. The court’s proceedings, coupled with the executive transfer of shares to Rosimushchestvo, illustrate a coordinated approach to asset recovery and governance reform. As the Moskovsky District Court proceeds, stakeholders across the industry will be watching for the implications this case may have on corporate control, foreign ownership considerations, and the broader strategy to curb corruption-associated practices within the business community. The outcome could influence future regulatory actions and set a precedent regarding the government’s capacity to intervene in private holdings when public interest is deemed at stake. (citation: Unified Press Service)