Ukraine moved to add new charges against Russian billionaire Mikhail Fridman to an earlier criminal case over alleged fraud.
(Bloomberg) — Ukraine moved to add new charges against Russian billionaire Mikhail Fridman to an earlier criminal case over alleged fraud.
Ukraine’s Security Service said Tuesday it documented “criminal activity” by the businessman, including his involvement in financing Russia’s war against Ukraine through the investment consortium Alfa Group under his control, according to a statement on the investigative body’s website.
Fridman did not immediately respond to a request for comment.
The billionaire, sanctioned by the US last month, injected about 2 billion rubles ($20.5 million) in several Russian military plants, including bullet-maker Tulskiy Patronniy Zavod AO and a producer of high-tech equipment for fighter jets and helicopters PA Urals Optical & Mechanical Plant, the Security Service said.
Additionally, Fridman’s insurance company allegedly helped insure both military equipment and Russian servicemen, while his telecommunications firm cooperated with Russia’s Federal Security Service, or FSB, to render services in Ukrainian territories that Russia occupied. Ukraine’s Security Service issued a “notice of suspicion” for Fridman, a formal step before he can be charged. He faces as many as eight years in prison and could have his property confiscated if found guilty, Ukraine said.
Read more: Ukraine Moves Toward Nationalizing Russian Tycoons’ Bank
Ukrainian prosecutors already suspect Fridman, who has both Israeli and Russian passports, of organizing a criminal group that was involved with fraud, forging documents, withdrawing assets from Ukraine and tax evasion. The nationalization of Sense Bank JSC, co-owned by Fridman and Russian businessman Petr Aven, was completed in July.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.