Freedom Holding Corp., the parent company of Freedom Finance Europe, will withdraw the Russian broker Freedom Finance and Freedom Finance Bank from the group. This information was published in the Fiscal Year 2022 report, posted on the website of the SEC the US Securities and Exchange Commission, on the 31st of May.
At the first stage of the deal, Timur Turlov, CEO of Freedom Holding Corp., will buy the assets as individual. Subsequently, he will sell the companies to their top management.
Since the first day of the military conflict between Russia and Ukraine, Freedom Holding Corp. management has made significant efforts to ensure the safety and well-being of our Ukrainian employees. Despite the effects of the conflict, Freedom Finance Ukraine continues to serve its clients. All offices in Ukraine have been reopened to the public, with the exception of the office in Kharkov as its staff are working remotely.
Timur Turlov officially applied for Kazakh citizenship in April, which will result in him renouncing his Russian and St Kitts and Nevis citizenships. He also donated $2.5 million in personal funds for humanitarian aid to Ukraine, with another $2.7 million donated by Freedom Finance Europe.