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Ex-founder of Otkritie and Moscow real estate mogul Mints put on international wanted list on fraud charges
Ex-cofounder of Financial Corporation Otkritie Russian billionaire Boris Mints and his sons have been put on the international wanted list by Russian court in RUB30bn embezzlement case, Vedomosti daily reported on January 30 citing the press-secretary of Moscow Basmanny court.
Sources told Vedomosti that the case involves O1 Group of Mints and its bonds deals with FC Otkritie, the same allegations as against the former chairman of the bank Evgeny Dankevich.
As reported by bne IntelliNews, the Central Bank of Russia (CBR) has completed the restructuring of FC Otkritie and has sued the founder of the bank, Vadim Belyaev, to recover the RUB290bn ($4.6bn) the regulator invested in bailing out the bank.
Most recently the CBR said that it could sell FC Otkritie in 2021 to either an anchor private investor or at an initial public offering (IPO). Otkritie was the most expensive bailout of the CBR’s banking clean-up drive in 2017, costing close to $8bn in capital injections, deposits and other support measures that were only partially recovered.
Previously in June 2019 the High Court in London blocked $572mn worth of Mint’s assets following the suit filed by several banks to recover $700mn worth of losses from Mints.
In the meantime Mints' O1 Group has defaulted on a number of bond issues since spring 2018, and had to sell a 61.2% stake in developer О1 Properties that was acquired by Cyprus-registered Riverstretch Trading & Investments (RT&I), reported to be affiliated to the state-controlled Rosneft oil giant. He was reported to have moved to the UK.
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