According to a Russian business registry, Elite Security (the oldest part of the Elite Security Holding Co.) was founded as a private company in 1997 by Oleg Popov together with Viktor Budanov and his son Dmitry.[2] Viktor is known to be a former minority owner of at least three of Elite's branches; records indicate that he no longer holds any ownership stake. According to Kommersant, the company's head office in Moscow is run by Dimitry. Elite declined to comment on an inquiry by The New York Times as to the current role of Viktor and Dmitry.[3]
When Budanov started out in Soviet intelligence in the 1960s, his work included buying food and other provisions for double agent Kim Philby. In the late 1960s, Budanov was posted to Britain, which expelled him in 1971 under suspicion of spying for the Soviet Union. In 1992, he retired as a major-general in Russia's foreign intelligence service. In interviews, Budanov has stated that the current Russian President Vladimir Putin was his subordinate between 1987 and 1991.[4] Budanov retired from espionage in 1992 after becoming upset by Russia's direction under Boris Yeltsin, and has since voiced admiration for Putin, crediting him with saving Russia from the chaos of Yeltsin's rule.[3]