Maxim Stepanov

According to Stepanov v. Dow Jones case record, Stepanov's Cyprus shell corporation received USD 10.9 million shortly after a Russian tax refund was approved -- directly linking Stepanov's personal corporate vehicles to proceeds of the Magnitsky-related tax fraud scheme, not merely as a service provider but as a potential beneficiary.

Stepanov's Midland Consult network spans multiple jurisdictions: Midland Consult (Cyprus) Ltd (HE174441, inc 2006, dissolved Mar 2025), Midland Consult Ltd UK (05540437, inc 2005, dissolved Feb 2026), Midland Consult Latvia branch (40003780080, inc 2005, dissolved Feb 2023), Midland Consult GmbH Germany (removed), Midland Legal Limited UK (12357189, active, Stepanov resigned as director Oct 2024), plus offices in Moscow, Kiev, Hong Kong, Panama. In ICIJ Offshore Leaks database, Midland Consult Ltd (Moscow) is intermediary for 194 offshore entities; Midland Consult (Cyprus) is intermediary for 12 BVI entities.

Midland Counselors at Law co-founded by Stepanov and Oscar Cedeño in Panama, agent for 1345+ entities

Midland Counselors at Law is a civil company founded in Panama by Oscar Augusto Cedeño and Maxim A. Stepanov. MIDLAND COUNSELORS is registered agent for 1345+ Panama entities.

BANIFF LLC (Kentucky, 2004) organized by Stepanov -- name echoes Kouzmine's BANFF INVESTMENTS

BANIFF LLC (KY #0584391, 2004, Inactive) has MAXIM STEPANOV as organizer and MIDLAND CORPORATE SERVICES LLC as agent. Name variant echoes Kouzmine's BANFF INVESTMENTS S.A. (Panama, 1980).

MIDLAND SERVICES LTD S.A. (Panama, 2010) bridges Stepanov proxies Cedeño and Alvarado with Midland Counselors

MIDLAND SERVICES LTD S.A. (PA #702547, 2010) has MIDLAND COUNSELORS as agent, OSCAR AUGUSTO CEDEÑO as treasurer/director, MARIO ANTONIO ALVARADO as secretary/director. Both are confirmed Stepanov proxies per OCCRP investigation.

Midland Consult (Stepanov's company) registered companies directly linked to the USD 230M Magnitsky fraud: Bristoll Export Limited (owned by Midland New Zealand Limited) was involved in the trans-border transfer of funds stolen from Russian tax authorities. OCCRP's Proxy Platform investigation found Midland's proxy directors appeared in 159+ UK companies. Maryland court ruled OCCRP accurately described Midland's role registering companies used by organized crime for money laundering.

Stepanov sued OCCRP, Dow Jones (Barron's), and Re:Baltica over reporting linking Midland Consult to organized crime money laundering. Lost all cases in 8 separate rulings across US (NY App Div 2014, Maryland appeals), Latvia, and Russia. Courts found the reporting substantially true -- that Midland Consult registered companies used by organized crime. Barron's article 'Crime and Punishment in Putin's Russia' was found non-defamatory.

Midland Consult's proxy director Orlando Barria-Frago was indicted in 2008 and sentenced to 2 years imprisonment in 2010 in Panama for document forgery and assuming false official identity. Frago appeared as director or subscriber in 886 Panamanian companies created by Midland. Another Midland-related company, Cromex Trade LLP, was flagged by Wachovia whistleblower Martin Woods -- 115 suspicious transactions totaling USD 9.4M transferred to China-based companies. Wachovia received the largest banking fine in US history in 2010 for laundering Sinaloa Cartel proceeds through similar channels.

Maxim A. Stepanov (born June 1965, Russian national, current residence Portugal) is the founder of Midland Consult -- a Cyprus/UK/Panama/BVI offshore company formation network. Former Russian diplomatic service 1991-1997 (consular secretary and embassy attache in Panama). Registered as incorporator/organizer for United Alliance Ltd. Co. and at least 4 other companies at 835 Central Ave Suite 402F, Hot Springs, AR 71901.

UNITED ALLIANCE LTD. CO. (Hot Springs, AR) confirmed as Stepanov/Midland Corporate Services entity

UNITED ALLIANCE LTD. CO. (AR #800015330, 2003, Forfeited) at 835 Central Ave Suite 402F, Hot Springs 71901. Incorporator: MAXIM STEPANOV. Agent: MIDLAND CORPORATE SERVICES LLC.

BANIFF LLC (Kentucky) is a possible deliberate name variant of Banff Investment S.A. (Panama), a known entity in the Kouzmine/Tambovskaya Troika indictment structure

BANIFF LLC was organized by Maxim Stepanov in Kentucky on 22 Apr 2004, the same day he organized 5 other Kentucky shells (HOYDEN, MIGMON, QUINELLA, MARIST, DECADENCE). Banff Investment S.A. is a Panama entity from the Spanish Troika indictment against Serguei Kouzmine and the Tambovskaya criminal organization. The near-identical naming (BANIFF vs BANFF — one extra letter) combined with the shared Stepanov connection suggests this Kentucky entity may be a domestic mirror of the Kouzmine offshore structure. Stepanov incorporated United Alliance Ltd. Co. in Arkansas, which directly received Kouzmine/Tambovskaya funds.

ALMAZ INVESTMENTS S.A. — "Almaz" (diamond in Russian) Panama entity created in 1994 during Stepanov Russian Embassy Panama posting

ALMAZ INVESTMENTS S.A. was incorporated in Panama on 19 Oct 1994, while Stepanov was serving as consular secretary at the Russian Embassy in Panama (1991-1997). Stepanov held three roles: director, secretario, and tesorero. "Almaz" means "diamond" in Russian (алмаз). The diamond trade has historically been used for money laundering due to the portable, high-value, hard-to-trace nature of gems. This entity predates the Midland Consult mass incorporation period (2002-2004) by nearly a decade, indicating Stepanov was active in offshore formation during his diplomatic posting.

Midland Corporate Services LLC registered across 6+ US states — nationwide corporate services infrastructure for offshore shell network

Midland Corporate Services LLC appears registered in at least 6 US states: Arkansas (835 Central Ave Suite 402F, Hot Springs), Oregon (4825 Futura St, Eugene), Louisiana (1414 North Burnside Ste C, Gonzales + 12260 Willow Grove Rd Bldg 2, Camden DE), Kentucky, Oklahoma (517 S Highland Dr, Mustang OK), and Maryland. Stepanov held roles including agent, member, manager, and organizer across these registrations. This multi-state infrastructure enabled Midland to form and service shell companies across jurisdictions, making it harder for any single state to detect the scale of the operation.

OJSC CDB "CORALL" LTD — Russian corporate form (Open Joint-Stock Company) registered as Oregon entity by former Russian diplomat

OJSC (Otkrytoe Aktsionernoe Obshchestvo) is a Russian/Soviet corporate form for Open Joint-Stock Companies. CDB could mean Central Design Bureau (Tsentralnoe Konstruktorskoye Byuro), a designation used for Soviet/Russian military-industrial entities. Registering a Russian corporate form in Oregon is highly unusual and may indicate this entity was meant to serve as a US-side counterpart or pass-through for a Russian organization. Address: 25234 Arcane Ave, Veneta, OR 97487.

DONGING FENGJA ECONOMIC TRADE CORP — Chinese-named trade entity registered in Oregon by a former Russian diplomat/offshore shell operator

A Chinese-language economic trade corporation registered by Stepanov at 4825 Futura St, Eugene, OR 97404 on 9 Sep 2003. The intersection of a former Russian Embassy Panama official operating Chinese-named trade entities in Oregon is unusual. This may indicate Stepanov was providing corporate formation services to Chinese clients, or that the entity was designed for Russia-China trade flows. Created same day as GOTLAND INC. and GRANLAND INC.

MAXLABS LLC — Stepanov maintains an active entity at 921 College Ave, Palo Alto CA (Silicon Valley)

MAXLABS LLC was formed 23 Jan 2018 in California. Stepanov is listed as manager. Two addresses: 921 College Ave, Palo Alto, CA 94306 and 26896 Alejandro Dr, Los Altos Hills, CA 94022. The entity remains active as of the data pull. A former Russian diplomat who ran 194+ ICIJ-linked offshore shells and is directly connected to the $230M Magnitsky fraud maintains an active presence in Silicon Valley. The nature of MAXLABS' business is unknown.

Industrial-scale shell formation: ~100+ Arkansas entities at 835 Central Ave Hot Springs in 2002-2004, ~7 Kentucky entities in a single day (22 Apr 2004)

The 835 Central Ave Suite 402F, Hot Springs, Arkansas 71901 address hosted 100+ shell companies created in rapid bursts between 2002-2004. Agents included Midland Corporate Services LLC (Stepanov), Central Delaware Corporate Services LLC, Meridian Companies House LLC, Delaware Corporate Services LLC, and W. Rick Fletcher. On 22 Apr 2004 alone, Stepanov organized 5 Kentucky entities (HOYDEN, MIGMON, BANIFF, QUINELLA, MARIST). On 20 Apr 2004, he incorporated 8 Arkansas entities in a single day (DYMASTO, AXELROD, SPRYSON, TUDDER, MOMENTO, DECADENT, STOCKDELL, GENTLAY, LIONSGATE, SENAKO). This volume indicates assembly-line shell formation, consistent with Midland Consult's known 194+ ICIJ entity portfolio.