{"id":305489,"date":"2026-10-16T10:56:05","date_gmt":"2026-10-16T06:56:05","guid":{"rendered":"https:\/\/abcmedia.am\/?p=305489"},"modified":"2026-10-16T11:09:26","modified_gmt":"2026-10-16T07:09:26","slug":"trump-donor-leading-caucasus-fund-has-major-armenia-holdings-russia-business-history%d6%89-who-is-sokolov","status":"publish","type":"post","link":"https:\/\/abcmedia.am\/en\/news\/305489\/","title":{"rendered":"Trump donor leading Caucasus fund has major Armenia holdings, Russia business history\u0589 Who is Sokolov?"},"content":{"rendered":"\n

Konstantin Sokolov, a 51-year-old Russian-born businessman, was put in charge of the investment vehicle, now called the Trans-Caspian Enterprise Fund, in January, according to its incorporation documents.<\/p>\n

He holds major stakes in Armenia’s top mobile phone company Viva Armenia, and purchased Armenia’s second largest copper and molybdenum mine earlier this year after receiving a special permit from the US government to buy it, according to the Reuters reporting.<\/p>\n

A Reuters review of public documents related to the only three other US enterprise funds now operating showed no indications that any of their heads have major investments in the countries where those funds invest.<\/p>\n

Still, according to six ethics experts who reviewed the Reuters reporting, Sokolov’s business interests create a conflict of interest because his role gives him control of government money that could potentially benefit his companies.<\/p>\n

Ann Skeet, an ethics expert at Santa Clara University, said, “I think Congress should be asking questions.”<\/p>\n

Reuters found no indication of any wrongdoing by Sokolov. US legislation governing such investment funds does not forbid directors from holding investments in regions of operation.<\/p>\n

A representative for Sokolov’s private equity firm, IJS Investments, said the fund was prohibited ⁠from investing in any of his businesses and that Sokolov had complied with “all due diligence and security requirements.”<\/p>\n

A State Department spokesperson said the enterprise fund would comply with annual reporting requirements and independent audits “as well as with applicable grant provisions including conflict of interest requirements.”<\/p>\n

Sokolov had been among a list of 37 corporate and individual donors to Trump’s White House ballroom project distributed by the White House last year. The Washington Post reported on Thursday that Sokolov donated $1 million, opens new tab to the project.<\/p>\n

Sokolov has also donated some $13 million to Republican political groups, according to Federal Election Commission data. Sokolov’s biography on his personal website highlights his modest upbringing in St. Petersburg and his dislike of the Soviet government․ It says he immigrated to the United States at 21, several years after the collapse of the Soviet Union.<\/p>\n

But his ties to Russia went on long after he left, according to a Reuters review of corporate and government records. The businessman’s purported ties to the Russian government warrant scrutiny to ensure US interests come first in the fund’s management, said two of the ethics experts Reuters interviewed.<\/p>\n

A 2015 promotional brochure reviewed by Reuters for the now-defunct Liechtenstein-registered Gotthard Investment Fund, a Russia-focused real estate investment operation, listed Sokolov as a fund manager and emphasized the fund’s “strong and long-lasting personal and professional trust relationships forged over the last 20 years with Moscow, St. Petersburg and Federal governments.”<\/p>\n

A former project manager with the fund, speaking to Reuters on condition of anonymity, said they recognized the brochure as authentic.<\/p>\n

Lawyers representing Sokolov said that Sokolov “does not believe” the brochure is authentic, and that the logo on the brochure did not appear ⁠to be one used by the fund.<\/p>\n

“Mr. Sokolov has no relationships with Russian government officials or the Russian government,” his representative told Reuters, adding “he does not hold a Russian citizenship.”<\/p>\n

Reuters could not independently confirm Sokolov no longer has Russian citizenship.<\/p>\n

Sokolov used a Russian passport for international travel as late as 2016, according to travel records reviewed by Reuters.<\/p>\n

The White House referred requests for comment about Sokolov to the State Department. The State Department did not provide details on Sokolov’s background check or whether he had a security clearance.<\/p>\n

When asked for comment about Sokolov, Kremlin spokesman Dmitry Peskov said: “We don’t know who you are talking about.”<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"