Photo credit: Ukrainian Tennis Federation
Vadim Shulman is a Ukrainian tycoon who, since the fall of the Soviet Union, has developed a diverse business portfolio that spans mining, chemicals, energy, and telecommunications. He is a close associate of fellow Ukrainian businessmen Ihor Kolomoiskyy and Gennady Bogolyubov, and since 2006 had chaired the Ukraine Tennis Federation.
According to Appleby records, Shulman, who lives in Monaco, bought a brand new Gulfstream G450 jet direct from the manufacturer for $35,000,000 in 2012. Appleby helped Shulman set up a network of companies in the Isle of Man and British Virgin Islands for the purposes of operating and servicing the aircraft. In internal documents, the firm refers to the aircraft deal as of “high risk.”
Shulman did not respond to reporters’ requests for comment.