Russia hires high debt assortment crew to chase down & get better $1bn of property from ’Putin’s banker’


Russia’s Deposit Insurance Agency (the DIA) has employed the Alfa Group to go after the huge wealth of fugitive ex-oligarch and Western media favourite Sergey Pugachev.

Moscow is searching for Pugachev’s funds after a monetary establishment he created – the International Industrial Bank (Mezhprombank) – went bust and misplaced 72.5 billion rubles ($1.03 billion). He is needed over accusations that the chapter was deliberate.

Dubbed ‘Putin’s banker’ by Anglo-American reporters, Pugachev left Russia in 2011 after acquiring French citizenship, and the DIA has been making an attempt to expropriate his overseas property ever since. The hiring of Alfa Group exhibits a definite ramping up of those efforts.
Russia has had some success chasing Pugachev’s property overseas, with the High Court in London freezing greater than £1 billion ($1.23 billion) value of property.

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In 2015, Pugachev filed a lawsuit in opposition to Russia, countersuing for $14.5 billion. The Hague tribunal rejected Pugachev’s demand in June 2020.

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