The fugitive Russian billionaire Boris Mints suffered a setback as the London High Court blocks his assets worth €500 million.
Mints had recently acquired Maltese citizenship and is currently living in London. The citizenship was granted to him for over €1.15 million under the Individual Investor Programme.
He is the former owner of O1 group and the case was related to the claims filed by banks that he owned and were taken under control by the Russian central bank.
The Russian central bank has filed a €1.2 billion lawsuit against Boris Mints. He has been accused of making fraudulent deals as the owner of Otkritie and Rost banks.
Mints allegedly bypassed the security required to give out loans to O1 group and the company owed €750 million to both the banks in 2017.
“Indeed, very shortly after the transactions in issue, the banks were bailed out and taken over by the CBR in August and September 2017. However, the position in early August 2017 was that the banks had been provided with, and retained, valuable security for the O1 loans,” Malta Today quoted the court as saying.
After criminal proceedings were initiated against him, Mints left Russia in 2018. He had already been granted Maltese citizenship in the year 2016.