On August 23, 1990, a secret memorandum from Vladimir A. Ivashko, who was Gorbachev's deputy general secretary, outlined strategies to hide the Communist Party's assets through Russian and international joint ventures because Boris Yeltsin, who was the new president of the Russian Republic in the Soviet Union, wanted to levy taxes on the Communist Party's vast administrative property holdings and on the Party itself. The memorandum was to organize the transfer of CPSU funds, CPSU financing and support of its operations through associations, ventures, foundations, etc. which are to act as invisible economics. In November 1990, the offshore structure Fimaco was formed by the Russian Central Bank, then known as Gosbank, to hide these funds. In November 1990, Leonid Veselovsky, a colonel in the First Chief Directorate of the KGB and an expert in international economics, was transferred from his KGB post in Portugal to Moscow to be under deputy chairman of the KGB of the USSR Philip Bobkov; however, two weeks before the August Putsch in 1991, Veselovsky quit the KGB and began working for the Switzerland office of Boris Birshtein's Seabeco; but, in the meantime, hundreds of banks, joint stock companies, and joint ventures had been created under the direction of the CPSU Central Committee.