UK Freezes Russian Oligarch's Assets Over £2.5B Bank Fraud

Law360, London (April 15, 2019, 6:51 PM BST) -- A High Court judge in London has granted a £1.3 billion ($1.7 billion) freezing order against the relative of a former Russian bank boss jailed by a Moscow court for nine years as part of efforts to recover assets stolen in one of Russia’s biggest-ever bank frauds.

Judge Timothy Fancourt granted freezing orders against luxury properties and shell companies in a range of foreign territories owned by Russian fugitive Georgy Bedzhamov, the co-owner of Vneshprombank, which collapsed in 2016 leaving thousands of depositors out of pocket, according to a court order signed Monday.

Receivers of Vneshprombank are suing Bedzhamov in the...

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