On photo: Alexander Knyazhev
On the evening of July 10, 2024, a daring kidnapping attempt at the Equinoccio Park shopping mall in Madrid shocked the local community. In broad daylight, amidst witnesses and surveillance cameras, five Russian nationals tried to abduct two men, Alexander Knyazhev and his assistant Sergey Nechitailo, forcibly placing them into a black van. The Guardia Civil quickly arrived at the scene, intercepting and detaining the kidnappers.
In the initial stages of the investigation, the motives behind the kidnappers’ decisive actions were unclear. However, as new facts emerged, it became evident that Alexander Knyazhev (along with his mother Gulnara and brother Nikolay) was involved in organizing numerous Ponzi schemes. Under the guise of investment offers in cryptocurrency, forex, and network business, they ran several pyramid schemes through companies like Wicholding, Syrex Pro, Ayratex, T-Point, and the fraudulent forex broker MintXMarkets. The Knyazhev lured unsuspecting individuals by promising high and stable returns, but in reality, they appropriated the funds.
Alexander Knyazhev and his companies left behind tens of thousands of victims in Russia, Ukraine, Georgia, and Turkey. In their latest scam under the MintXMarkets brand, the Knyazhev fraudulently acquired around $3 million worth of cryptocurrency. Among the victims were those who decided to take justice into their own hands, leading to the kidnapping attempt. The assailants stated that they planned to deliver the seasoned fraudster to the nearest police station.
Notably, despite the well-known schemes and multiple complaints from victims, Alexander Knyazev had successfully evaded capture for years, moving between Cyprus, Turkey, and Spain. Moreover, with a Romanian passport, he managed to avoid arrest and deportation. It remains unclear why Spanish authorities did not exercise due diligence concerning the large sums of money Knyazhev was handling in Spain. For example, he recently purchased a luxury Audi Q7S, which he was in at the time of the incident.
This case raises many questions not only about the participants in the incident but also about the international legal system that allows such fraudsters to continue their activities. Despite the arrests, the incident in Majadahonda underscores the urgent need for improved cooperation between international law enforcement agencies to prevent such crimes in the future.