Business

Telegram Founder Pavel Durov’s Various Citizenships Add To The Mystery Of His Detention

Published

2 months ago

2024-08-28

DUBAI, UAE —For more than a decade, the founder and CEO of messaging software Telegram has acquired many citizenships, adding to the mystery surrounding his arrest in France.

These passports protected Pavel Durov after he founded and controlled Telegram as a self-proclaimed free-speech absolutist. Some have used the app to plan protests in hostile regimes such as Iran and his own Russia. However, Western officials claim Telegram supported drug traffickers, money launderers, militant groups, and child pornographers.

“To be truly free, you must be willing to risk everything for freedom,” Durov once said on Instagram, sandwiched between photos of himself shirtless with Dubai’s skyscrapers or Saudi Arabia’s Mada’in Saleh ruins in the background.

That danger appears to have caught up with him, despite passports from Russia, France, the United Arab Emirates, and Saint Kitts & Nevis, as well as Forbes’ assessment of his wealth at $15.5 billion.

Telegram Founder Pavel Durov’s Various Citizenships Add To The Mystery Of His Detention

Durov was released from French jail on Wednesday after being arrested Saturday at Paris-Le Bourget Airport. Allegations include the use of his platform for child sexual abuse material, drug trafficking, fraud, and aiding and abetting organized criminal activities, as well as Telegram’s refusal to give information or records to investigators when legally needed. He is scheduled to appear in court later Wednesday.

Durov, 39, appears to have begun seeking additional citizenships over a decade ago. According to him, the reason was a battle over control of VKontakte, or “In Contact,” often known as VK, a social networking website that at the time outperformed Facebook in Russia.

Russian security services blocked pages associated with a Ukrainian protest movement that helped depose the country’s Kremlin-friendly president, Viktor Yanukovych. Durov released what seemed to be paperwork from the Federal Security Service, or FSB, requesting personal information about protest organizations.

Durov left VK permanently after resigning on April Fools Day, first in jest. He secured a resident visa for Dubai, the UAE’s business powerhouse. He also acquired a Saint Kitts and Nevis passport after purportedly providing $250,000 to the Caribbean’s sugar economy.

Saint Kitts and Nevis remains attractive as a tax haven for the wealthy and people with passports that require lengthy visas to go to other nations.

Durov stated in a VK post 2017 that he got a Saint Kitts and Nevis passport in the spring of 2013 and described it as “a convenient thing, as it allows to travel to the EU and Britain without visas.”

He said that he had never been to the Caribbean island nation and had no intentions of going there and that “one can get the passport without leaving Europe.”

By 2017, Durov lived full-time in Dubai, with his Telegram office based in Dubai Media City.

“I love it here,” he told Bloomberg back then. “It’s developing so fast, like a start-up.” The news organization estimated his wealth at the time to be $300 million and 2,000 bitcoins, a cryptocurrency whose value has since skyrocketed.

During this time, the United Arab Emirates gave Durov citizenship, a rare occurrence in a country where 90% of the population is foreign and has no road to citizenship.

The UAE has not explained why it granted Durov citizenship, but on Tuesday, its state-run WAM news agency publicly acknowledged his status and asked France to provide him “with all the necessary consular services in an urgent matter.” Under Emirati legislation, investors, doctors, professionals, and intellectuals can be granted citizenship if approved by one of the country’s seven rulers, a crown prince, or the federal government of his homeland.

Durov was spotted in a meeting with Dubai’s crown prince, Sheikh Hamdan bin Mohammed Al Maktoum, in 2021. A WAM article at the time claimed Telegram as “globally headquartered in Dubai” and worth more than $20 billion.

The UAE, particularly Dubai, has sought to attract internet and e-commerce companies for years. Durov also served on an advisory council for its ruler, Sheikh Mohammed bin Rashid Al Maktoum. Mubadala, Abu Dhabi’s sovereign wealth fund, invested $75 million in Telegram that same year, as did another Abu Dhabi enterprise.

His French citizenship still needs to be clarified.

Durov became a French citizen in 2021, and his name was published in the naturalization section of France’s Official Gazette on August 25 of that same year. According to a government order, he will formally change the transliteration of his name in French to Paul du Rove in May 2022.

Because of French privacy laws, the details of Durov’s French naturalization procedure, a lengthy and cumbersome bureaucratic nightmare for most, are kept from public view.

Durov did not appear to match the conventional conditions of lawfully living in the nation for two to five years or having French family members, but he may have qualified for a rare citizenship route reserved for “merited foreigners.” According to the French government, this applies to French-speaking foreigners who “contribute through their merited action to the global influence of France and the prosperity of its international economic relations.”

According to an official acquainted with the conversation, Durov and French President Emmanuel Macron met in 2018 and discussed the development of their activities in France, similar to the discussions the French president holds with global corporate leaders regularly.

Telegram Founder Pavel Durov’s Various Citizenships Add To The Mystery Of His Detention

The official stated that Durov later requested French citizenship through a request to the French Foreign Ministry rather than directly from Macron.

The individual spoke anonymously because they were not authorized to publicly discuss private presidential conversations.

France and the UAE have a tight military cooperation, with French forces maintaining a naval facility in Abu Dhabi and Emirati forces employing Leclerc tanks and Rafale fighter jets. Macron is also said to be close to Emirati leader Sheikh Mohammed bin Zayed Al Nahyan, the ruler of Abu Dhabi. The arrest generated a falsified video online late Tuesday, purportedly attributed to the Al Jazeera satellite news network, claiming that an arms deal between the countries was under threat.

However, as is typical of Durov, things remain unclear. He had occasionally prevented interviewers from photographing his offices and other surroundings, thereby managing his public image.

SOURCE | AP

Kiara Grace

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

See Full Bio

Business

Subsidies for Electric Vehicles Cut as Consumer Interest Fades

Published

4 days ago

2024-11-04

Geoff Thomas

Electric vehicles (EVs) are still considerably more expensive than traditional alternatives.

Pressure is building on Canada’s electric vehicle manufacturers, and several are rethinking their stance on E.V.s in favor of plug-in hybrids. Automobile manufacturers are now bracing themselves for an even more challenging era in the Canadian market for electric vehicles (E.V.s).

President Kristian Aquilina of General Motors Canada claims that support and expectations are misaligned because the Canadian government is reducing subsidies for electric vehicles while trying to phase out gas-powered cars.

Manufacturers find pushing for an all-electric future in Canada increasingly difficult due to fewer consumer financial incentives and increasingly strict sales targets.

With subsidies totaling up to C$12,000 (about $8,500), Canadian consumers may save a tonne of money on electric automobiles. The federal government offers a rebate of up to $5,000 Canadian, and the provinces of Quebec and British Columbia provide further incentives of up to $7,000 and $4,000, respectively.

Ford lost about 2,000 US for every EV it sold in the first three months of the year.

Ford lost about $132,000 US for every E.V. it sold in the first three months of the year.

Ontario, which eliminated rebates in 2018, had the lowest market share for electric vehicles compared to Quebec and British Columbia, two regions that offered bigger incentives and thereby drove E.V. adoption in Canada.

Although this backing is dwindling, the province of Quebec has now declared that all subsidies will end in 2027. In June, the British Columbia government restricted incentives to a smaller subset of E.V. purchasers for “available funding” and higher-than-expected E.V. sales growth.

These reductions indicate a larger pattern: provincial governments reevaluate the sustainability of taxpayer-financed incentives for E.V.s as budget deficits widen.

With lofty goals to cut pollution from gas-powered cars and increase sales of electric vehicles, the Canadian government has reduced subsidies for these vehicles. Electric or plug-in hybrid vehicles will be mandatory for all new light-duty vehicle sales in Canada by 2035.

B.C. needs to step up with incentives for consumers to buy used EVs, some opposition critics say.

Some opposition critics say that B.C. needs to step up with incentives for consumers to buy used E.V.s.

To meet our intermediate goals, 20% of new sales must be electric vehicles (E.V.s) by 2026 and 60% by 2030. Car companies are already under a lot of pressure due to dwindling incentives and increasing demands, and the clock is ticking faster by the second.

In addition, these rules impose new forms of responsibility. Automakers that do not reach their provincial sales targets may be subject to financial fines imposed by provinces such as British Columbia.

Canadian manufacturers are already under financial pressure from federal compliance credit system standards, which they must meet or face deficits. This system gives them credit for electric vehicle sales and infrastructure improvements, but it’s not without its challenges.

“The timing is not necessarily lining up very well, in that the purchase incentive support comes off just as mandates and regulations start to bite,” GMC Canada President Kristian Aquilina told Bloomberg. “It must make a difference.

Therefore, we must consider that. Despite the cutbacks, Aquilina argued that the government’s investment in enhancing the charging infrastructure could benefit E.V. sales.

Tesla Sales Fall As More Electric Vehicles Crowd the Market

Tesla Sales Fall Again As More Automakers Crowd Electric Vehicle Market

Geoff Thomas

Geoffrey Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

See Full Bio

Business

Chewy Slides After Filing Shows 3rd-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

Published

1 week ago

2024-10-30

Kiara Grace

Washington — Chewy shares fell about 2% overnight Wednesday after a regulatory filing showed that Roaring Kitty, a meme stock trader, sold his interest in the online pet retailer.

According to a beneficial ownership document filed with the Securities and Exchange Commission on Tuesday, Roaring Kitty, whose legal name is Keith Gill, sold all his Chewy shares, totaling 6.6% of the company.

Chewy Slides After Filing Shows Third-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

Plantation, Florida-based Chewy dropped 1.9% after hours to $26.19 per share.

Gill, an investor at the core of the meme stock craze, bought more than 9 million shares of Chewy in July, making him the company’s third-largest stakeholder.

Gill built a name for himself in 2021 by rallying ordinary investors around GameStop. At the time, the video game shop was fighting to stay in business, and major Wall Street hedge funds and investors were betting against it or shorting the stock. But Gill and those who agreed with him altered GameStop’s direction by purchasing thousands of shares despite practically all acknowledged criteria indicating that the firm was in deep peril.

Chewy Slides After Filing Shows Third-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

That triggered what is known as a “short squeeze,” in which large investors who had bet on GameStop were obliged to buy its swiftly increasing stock to offset significant losses.

Gill has expressed confidence in GameStop Chairman and CEO Ryan Cohen’s ability to revamp the company following his success at Chewy. Cohen cofounded Chewy in 2011 and stepped down as CEO in 2018.

SOURCE | AP

Kiara Grace

See Full Bio

Business

Canada CBC News CEO Catherine Tait Recalled to Parliamentary Committee

Published

1 week ago

2024-10-30

Geoff Thomas

Catherine Tait won't rule out taking bonus once she leaves CBC/Radio-Canada

Canada CBC News reports that MPs have voted to recall CBC CEO Catherine Tait to a Commons committee for questioning, only a week after her last appearance, over the awarding of $18 million in bonuses to Canada CBC news executives.

The Conservatives, the Bloc Québécois, and the NDP joined forces to re-invite Ms. Tait, her successor Marie-Philippe Bouchard, and Heritage Minister Pascale St-Onge to appear before the Commons Heritage Committee.

Ms. Tait, who will relinquish her position as CEO and president of CBC/Radio Canada in January, addressed the committee last week. The House of Commons has passed a motion recalling her before the conclusion of her term, and she is now subject to an additional two hours of interrogation, which includes inquiries regarding bonuses.

MPs also resolved to summon Quebec broadcasting executive Marie-Philippe Bouchard, appointed as the new chief of CBC/Radio-Canada last week, to appear before she begins her new job following a House of Commons chamber debate.

Catherine Tait Exit Package

Catherine Tait rejected the Conservatives’ requests to deny an exit package, including bonuses, when she departed the position in January during last week’s committee hearing.

She also defended the award of $18.4 million in incentives to 1,194 staff members for the 2023-2024 fiscal year, which concluded in March, following the broadcaster’s achievement of performance indicators.

Kevin Waugh, a Conservative committee member who introduced the motion, stated that his party aimed to ensure Ms. Tait was “accountable to taxpayers” before her departure in January.

He informed The Globe and Mail that “Canadians are dissatisfied with the bonuses” and that Catherine Tait‘s exit package, which will not be disclosed, is a cause for concern.

“I am apprehensive that she has not received her bonuses in over two years, and that the Minister of Heritage or Privy Council will lavish her with bonuses when she departs in January,” he stated.

The Liberals opposed a portion of the motion that claimed that “the Liberal threat to cut funding” had resulted in the elimination of hundreds of jobs at CBC/Radio-Canada.

Defunding CBC News Canada

The Heritage Minister informed The Globe that the claim was “hypocritical,” as the Conservatives intended to completely defund CBC.

“The Conservatives’ actions today are a clear example of hypocrisy.” Ms. St-Onge stated that performance bonuses increased by 65% during the Harper Conservatives’ tenure, while CBC News Atlantic Canada experienced substantial budget cutbacks.

“As a government, we do not require any lessons from a party that has pledged to reduce the funding of CBC/Radio-Canada and the 8,000 jobs associated with it during its campaign.”

During the Tuesday debate, NDP MP Niki Ashton stated that her party endorses the “banning of executive bonuses” at CBC News Atlantic Canada but is opposed to “the Conservatives’ full frontal attack” on the broadcaster.

She stated, “We require a robust public broadcaster, but not one that distributes executive bonuses and eliminates positions.”

If the Conservatives establish the next government, they intend to deprive the CBC of public funding while maintaining French services.

Catherine Tait defended CBC and rebuffed MPs’ assaults during last week’s committee hearing. “It is evident that the members of this committee are making a concerted effort to discredit the organization and vilify me,” she stated.