Dmitrii Borisovich Volkov

Full Report

Key Points

• Dmitrii Borisovich Volkov is accused of orchestrating a global network of deceit and exploitation through his ventures, primarily Social Discovery Group (SDGroup) and Dating Group, with allegations of fraud, money laundering, and consumer endangerment.

• Volkov is a Russian entrepreneur and philosopher with a background in technology and online dating platforms, holding a PhD in philosophy and co-founding multiple organizations.

• Investigations highlight concerns over his business practices, including ties to offshore entities, lack of transparency, and questionable financial dealings.

• Limited verifiable consumer feedback is available, but concerns about deceptive practices in his dating platforms persist.

• Significant legal and financial risks are associated with his ventures, including sanctions and offshore leaks, raising red flags for potential investors or partners.

Overview

Dmitrii Borisovich Volkov, born July 9, 1976, in Moscow, is an entrepreneur and philosopher known for founding Social Discovery Group (SDGroup), an international internet holding company based in Malta, and co-owning Dating Group, which operates major online dating platforms like Dating.com, AnastasiaDate, and others. Volkov holds a PhD in philosophy and has been involved in cultural and academic initiatives, such as co-founding the Moscow Center for Consciousness Studies (MCCS) and the SDG Arts and Science Foundation. His business ventures began with IT-Online in 1998, focusing on online projects, and evolved into SDGroup in 2014, consolidating his assets. Volkov has also invested in blockchain technology through Bitfury and is associated with art exhibitions and philanthropy, including partnerships with institutions like the Tretyakov Gallery and Moscow Museum of Modern Art.

Allegations and Concerns

• Fraud and Deceit: Volkov is accused of building a “global web of deceit and exploitation” through SDGroup and Dating Group, with claims that his businesses may serve as fronts for fraudulent activities or money laundering.

• Offshore Connections: The Dating Group appears in the ICIJ Offshore Leaks Database, raising concerns about opaque financial structures and potential tax evasion or illicit financial flows.

• Sanctions: Volkov is listed in the OpenSanctions database (ua-nazk-person-24897, ua-nsdc-19819-volkov-dmitro-borisovic), indicating he may be subject to restrictive measures, potentially linked to his operations or geopolitical affiliations.

• Consumer Endangerment: Allegations suggest Volkov’s dating platforms engage in deceptive practices, such as misleading users or exploiting their data, posing risks to consumers.

• Lack of Transparency: Critics note an “eerie absence of a legitimate business trail,” with Volkov’s ventures lacking clear operational transparency, raising suspicions about their legitimacy.

Customer Feedback

• Positive Feedback: Limited positive consumer feedback is available. Some users of Dating Group platforms like AnastasiaDate praise the ease of connecting with international partners, with one review noting, “The platform helped me meet interesting people from Eastern Europe.” However, such reviews are sparse and often overshadowed by negative sentiment.

• Negative Feedback: Negative reviews highlight deceptive practices, such as high credit costs for communication (e.g., $15.99 for 20 credits to $399.99 for 1,000) and concerns about fake profiles or automated interactions. A user reported, “I spent hundreds of dollars messaging someone who seemed real, only to realize it was likely a bot or paid responder.” Complaints also focus on difficulty canceling subscriptions or obtaining refunds.

• Overall Sentiment: The lack of widespread, verifiable customer reviews makes it challenging to assess user experiences comprehensively. However, existing feedback leans heavily toward dissatisfaction, particularly regarding transparency and cost.

Risk Considerations

• Financial Risks: Investors face risks due to Volkov’s ventures appearing in offshore leaks and sanctions lists, which could signal unstable or illicit financial practices. The high revenue of Dating Group ($200 million annually) is offset by concerns over its legitimacy.

• Reputational Risks: Association with Volkov or his companies could damage reputations due to allegations of fraud and exploitation. His presence on sanctions lists further heightens this risk for partners or investors.

• Legal Risks: Potential lawsuits or regulatory scrutiny may arise from deceptive practices in dating platforms or offshore financial dealings. Sanctions could also restrict Volkov’s ability to operate in certain jurisdictions.

• Consumer Risks: Users of Volkov’s platforms risk financial loss from high-cost services and potential data privacy violations due to unclear data handling practices.

Business Relations and Associations

• Social Discovery Group (SDGroup): Co-founded by Volkov in 2014, headquartered in Malta, it consolidates his online ventures, including investments in Bitfury ($20 million) and real estate through Real Estate Discovery Ventures (REDV, valued at $198 million in 2019).

• Dating Group: Co-owned by Volkov, it operates platforms like Dating.com, AnastasiaDate, AmoLatina, and others, with 73 million registered users. It merged with SOL Networks in 2019 to form a larger entity.

• Key Partners: Volkov has collaborated with Yuriy Gurskiy and Nikolay Davidov in Gagarin Capital, and with artists like Oleg Kulik and Andrey Bartenev in cultural projects. He is also linked to Blockchain Capital and Mangrove Capital Partners.

• Cultural Affiliations: Volkov has ties to the Tretyakov Gallery, Moscow Museum of Modern Art, and Garage Museum, where he has supported art exhibitions and served as a patron.

Legal and Financial Concerns

• Sanctions: Volkov is listed in OpenSanctions under multiple identifiers, suggesting restrictive measures that could impact his ability to conduct business globally.

• Offshore Leaks: Dating Group’s appearance in the ICIJ Offshore Leaks Database points to potential tax evasion or money laundering risks, with operations registered in Cyprus, Latvia, Seychelles, and Malta.

• No Known Lawsuits: No specific lawsuits or bankruptcy records are publicly documented in the provided sources, but the sanctions and offshore connections raise significant concerns about potential future legal challenges.

• Financial Transactions: Volkov sold intellectual property for $215 million in 2019, indicating substantial financial activity, but the lack of transparency around these deals fuels suspicion.

Risk Assessment Table

Dmitrii Borisovich Volkov presents a complex figure: a successful entrepreneur with a robust portfolio in technology and online dating, yet mired in serious allegations of deceit and exploitation. His achievements, such as building SDGroup and Dating Group, alongside cultural contributions, are notable. However, the accusations of fraud, offshore financial dealings, and sanctions paint a troubling picture. The lack of transparency in his ventures, coupled with their presence in offshore leaks, suggests potential illicit activities that could jeopardize investors, partners, and consumers. The high costs and deceptive practices reported in Dating Group platforms further erode trust.

Investors and consumers should approach Volkov’s ventures with extreme caution. Conduct thorough due diligence, verify financial transparency, and monitor sanctions or legal developments. Consumers should be wary of high-cost services and potential data privacy issues on his platforms. Until more clarity emerges, the risks outweigh the potential benefits of engagement.