Russian IT company Nazareth Capital owed its employees about 59 million rubles. salary and its chairman and founder Vadim Nazaret went to the UAE. It has been reported CHNews referring to former employees of the company.
“The documented amount of salary debt is 58.5 million rubles. For all employees of the company (44 people) from January 2022 to August 2022. The amount of debt ranges from 120 thousand to 8 million rubles. per person,” the article says.
Ekaterina Gurova, a former employee of Nazareth Capital, said that because Nazareth managed to create an attractive image, she continued to work without pay. “The startup looks very good for the money: one office in a good business center, two offices, design remodel, everything is branded,” she explained.
According to the company’s official website and internal documents, Nazareth Capital was building a “next-generation digital ecosystem” called Qwangy. It was claimed that the app would combine a social network, a marketplace, and a messenger.
According to the developers surveyed by CNews, the app is only 30% developed and has not even reached the MVP (minimum viable product) level yet.
Employees claim that Vadim Nazaret is now in the UAE and “attracts investors” for the project. The company’s president did not answer CNews’ questions.
In April, Maxim Parshin, Deputy Head of the Ministry of Digital Development of Russia knowledgeableThat the salaries of IT specialists in Russia increased by 19% last year. However, local IT companies were also urged to be more transparent about their financial data. Maksut Shadayev, head of the Ministry of Digital Development, in May warned about the agency’s plans to remove 2,000 entities from the registry of accredited IT companies for its refusal to provide information that constitutes tax secrets.