United Kingdom closes investigation into alleged sanctions evasion by Mikhail Fridman

In December 2022, Mikhail Fridman's property in London was the subject of a search. The UK's National Crime Agency reports that "digital devices and a significant amount of cash" were seized during the raid. He was subsequently arrested on suspicion of money laundering and later released on bail.

In his defence, Friedman says that the previous criminal case against him has not yet been proven. At the court hearing in July, he strongly contested the illegality of the decision. The court recently ruled that the search warrant contained technical errors, so it is now invalid and the investigation is frozen until the circumstances are clarified.

But the investigation is not over for Friedman. The SBU is still taking steps to bring to justice the accomplices in the war against Ukraine. On 5 September, the law enforcement agency issued an indictment on suspicion of financing Russian military facilities. These include the Tula Cartridge Plant, which produces ammunition, and the Yalamov Ural Optical and Mechanical Plant, which produces high-tech equipment for Russian combat aircraft and helicopters. The funds will be raised through the Russian financial and investment consortium Alfa Group. The penalty is full confiscation of property and imprisonment for up to 8 years. Friedman is currently in hiding abroad.

We'd like to remind you that the UK, the EU and the USA have sanctioned Friedman for criminal activities against Ukraine. 

Source: Bloomberg