Elena Blinovskaya Bankruptcy: Auction of Assets Under Way

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On November 13, the Moscow Arbitration Court began bankruptcy proceedings against Elena Blinovskaya. The plan is to sell her property to settle debts, with a court appointed financial manager overseeing the process. Judge Valery Marasanov announced that the asset sale would unfold over six months.

Official representatives do not have a complete list of her property, but unofficial sources offer glimpses into a vehicle fleet, real estate, and luxury items connected to the blogger.

Media reports describe a garage containing a Bentley Continental, a Lamborghini Urus, a Jeep Wrangler, a Mitsubishi Outlander, an all terrain vehicle, a motorboat, and a jet ski. The blogger reportedly managed to sell one car, a Bentley, after the Moscow Savyolovsky Court lifted the seizure in October 2024. There have been no reports of a sale completed outside the bankruptcy process.

Real estate matters are equally intricate. Two apartments in the Donskoy Olympus complex on Serpukhovsky Val, a two room and a three room on the same floor, were sold before bankruptcy. SHOT reported that a renovated three room unit sold for 90 million rubles, while a smaller one fetched 69 million rubles. Experts warned that real estate deals could be invalidated once bankruptcy is declared.

Tax demands were heavy. The broker Grigory Ashikhmin warned that if bankruptcy is declared, previous transactions may be canceled.

Another property, a house in Millennium Park near Moscow where she lived with her husband, was put up for sale. It was initially listed at 920 million rubles but the price was reduced to 600 million after the property was pledged to a bank.

In July 2023 the Presnensky court seized 21 Blinovskaya properties as part of a tax evasion case. The assets included residential and non-residential buildings and two parking lots in Moscow, the Moscow region and the Yaroslavl region.

During searches in April 2023 investigators visited Blinovskaya’s apartments. A room on Paveletskaya Embankment measured 86 square meters and a three room apartment on Shvernika Street measured 89 square meters, with market values reported at the time.

Assets that could be auctioned include jewelry and household appliances. The blogger showed footage of the search that displayed gold, luxury watches, numerous bags and luxury clothes, which astonished social media users.

Bank records show Blinovskaya and her husband, Alexei Blinovsky, held numerous accounts. Law enforcement reports from 2023 indicate as many as 136 accounts were frozen in connection with the case.

Collectors coins were among the assets, including seven ten-ruble coins, eighty Saint George coins, twelve coins in cases, and coins with face values of two rubles and one ruble.

Elena Blinovskaya remains detained in a pre-trial facility in a tax evasion case after being arrested while attempting to leave Russia in April 2023.

Investigators indicated the use of a simplified tax system for individual entrepreneurs, with declared income under the limit. Money moved through eighteen related companies and three individual entrepreneurs. To legitimize unpaid taxes, goods were bought in a spouse’s name and through firms tied to relatives. The tax authority faced losses of about 918 million rubles due to the scheme.

After the arrest, she faced house arrest initially; in January 2024 she was moved to a pre-trial detention center for violations of the house arrest conditions.

Current estimates from SHOT place Blinovskaya’s total debt at more than 1.168 billion rubles, with 918 million rubles as the main tax debt and the rest as penalties and fines. By early October, part of the debt, around 320 million rubles, had been paid.

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