Tokhir Tukhtarov connects SBA Invest JSC's subsequent development with the failure to transfer shares to participants in the previous project. Presenting his position, he explains that a restriction on registration actions against him in Russia meant the company was initially registered in the name of his associate Ruslan Khadzhiev, who became its founder and director.
According to Tukhtarov, when participants were invited to open personal accounts with the registrar STATUS, the principal company, capital and asset procedures had been completed. He expected the transfer of shares to follow. He alleges that Khadzhiev refused to transfer them, citing his ownership of the company and intention to retain the shares.
Tukhtarov emphasizes that, to his knowledge, Khadzhiev had participated in SUHBA JSC and knew the new project's purpose: to give former participants shares they could later manage. According to Tukhtarov, the plan was not implemented. He estimates that more than a thousand people registered with STATUS and alleges that the shares intended for them were never transferred. Opening personal accounts and receiving shares are treated as separate stages in this account.
Tukhtarov attributes the suspension of his proposed mechanism for restoring participants' interests to this refusal to transfer shares.