Jeffrey Galmond

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Jeffrey Peter Galmond is a Danish lawyer and businessman. He is the owner of the law firm J. P. Galmond & Co. He owns large portions of the holding companies that own the Russian mobile telecommunications operator Megafon. One of these portions is currently contested. Galmond has been accused of not being the true owner of the Russian assets, but of acting as a front to Russian minister of telecommunications Leonid Reiman. These claims are vigorously denied by Galmond.

Galmond's disputed share in Megafon is currently held by Alfa Group, the company fronted by Russian Oligarch Mikhail Fridman. Alfa Group is at the centre of many disputes involved disputed ownership of telecommunitions operations. These companies include Telenor, Teliasonera, Turkcell and others. IPOC has recently launched a RICO suit in the United States against Alfa Group and its associates.

In February 2007, Galmond was accused by the Bermuda minister of finance, Paula Cox of minor infringements of local business requirements. She has asked the supreme court to wind up IPOC International Growth Fund, a company run by Galmond, along with several other companies associated with Galmond. Galmond and IPOC have worked to solve the issue. One step taken was for IPOC to fund a report by KPMG into its operations. KPMG’s report, which cost its client(s) US$13 million, found no evidence that JPG was not the beneficial owner of the MegaFon stake, or Alfa’s claim that money going into IPOC funds was the proceeds of money laundering. In the meantime it was reported that a US company, Diligence, believed to be acting on behalf of Alfa Group, bribed KPMG employees to disclose confidential information about IPOC.

Galmond has also worked as a lawyer for companies associated with the Icelandic conglomerate Baugur.