Following the Russian attack on Ukraine, the National Crime Agency has intensified its investigations into Russian oligarchs in the UK. Now the investigators seem to have caught a very big fish.
Luxury north London mansion: Russian businessman Mikhail Fridman bought the Athlone House in 2016 for £65million.
Britain’s National Crime Agency has over the weekend reported a spectacular arrest: On December 1, around 50 officers arrested a 58-year-old Russian businessman at his multi-million dollar residence in London in a major raid. The man was arrested on suspicion of money laundering, attempted fraud at the Ministry of the Interior and incitement to perjury.
Police also arrested a 35-year-old employee who was trying to leave the property with a bag containing thousands of pounds. Several computers and a “significant sum in cash” were confiscated. A third man, whom police say is the ex-boyfriend of the businessman’s partner, has been arrested in Pimlico, near Westminster, on suspicion of money laundering. All three of those arrested were released on bail after being questioned.
Alfa Bank denied
According to media reports, the arrested person is Russian-Israeli businessman Mikhail Fridman. This was reported by the Russian agency Tass, citing a source close to the multi-billionaire. A number of indications support this assumption. It’s not just the age of the arrested man that matches Fridman’s. The NZZ also compared a police photo from the raid to a picture of Fridman’s villa Athlone House before a recent renovation.
The Victorian property in north London’s posh Highgate was owned by several British industrialists before it was used by the National Health Service as a home for dementia sufferers until 2003. In 2016 Fridman acquired Athlone House to convert it into a modern luxury home.
According to the RIA Novosti agency, the Russian Embassy in London intervened with the British Foreign Office about the arrest. So far, there has been no official confirmation of the identity of those arrested. So far, no charges have been filed and the presumption of innocence applies. A spokesman for Alfa-Bank, which Fridman founded, told the Forbes Russia Telegram channel that Fridman had “nothing to do” with the arrests. The businessman himself was quoted by Forbes Russia as saying: “I’m fine, I’m going out with friends at the weekend.”
Sanctions from London and Brussels
The Israeli-Russian billionaire is considered a close confidante of Putin. He was therefore among the most prominent Russians to be on the EU and UK sanctions lists following the invasion of Ukraine. Opposite the Spanish newspaper «El País» Fridman subsequently complainedhe can no longer even pay in a restaurant in London and is therefore practically under house arrest.
If it is confirmed that the person arrested is Fridman, the businessman will face serious problems. The suspicions of money laundering, attempted fraud at the Home Office and incitement to perjury could indicate an attempt to deceive the authorities and circumvent sanctions.
For years, the UK had welcomed Russian oligarchs with open arms, without really caring about their fortunes. But now the tide has turned. According to the recent official numbers £18 billion in Russian assets have been frozen since the attack on Ukraine. In addition, there are over 100 properties owned by Russian citizens. A total of over 1,270 people are affected by the visa and account bans.
In addition, the National Crime Agency (NCA) has been strengthened and given a unit to combat kleptocrats. According to Graeme Biggar, the director general of the NCA, the arrest showsthat the targeted focus on criminal activities of the oligarchs and their helpers leads to significant successes.