Head of RAO disclosed cost of his castle in Scotland

Head of RAO disclosed cost of his castle in Scotland
Sergey Fedotov Photo: TASS

The CEO of the Russian Authors' Society (RAO) Sergey Fedotov, who is accused of a multimillion-dollar fraud, said he bought the castle in Scotland on legitimate money.

The Tagansky Court of Moscow, within a framework of the case of swindling in real estate, extended the arrest of the RAO CEO Sergey Fedotov for a month.

"The petition of the investigator is to be granted, the pre-trial restriction against Fedotov in the form of detention is to be renewed until 17th of September", said the Judge Natalia Larina.

During the hearing, Fedotov refuted suggestions that his property was purchased with funds for which he is charged with theft. According to him, the price of the castle at the time of purchase "was 50 million rubles, which corresponds to the price of a 2-3-room apartment in Moscow."

About the fact that Fedotov bought the Scottish Castle Grant of the XV century with a ghost, the British Daily Mail reported on June 1, 2015. Fedotov confirmed the deal to Vedomosti.

It was the main castle of the ancient Scottish Grants family. The building got the current appearance in 1694, and in 1990 it was rebuilt as a modern housing. The castle supposedly has its own ghost: a lady Barbara Grant, the daughter of a Scottish landowner of the XVI century, who died of unrequited love. After the last renovation, the castle belonged to Craig White, Scottish businessman and former owner of the local football club Rangers. After the divorce with his wife and the collapse of his businesses, White stopped paying interest on the mortgage of the castle, and in 2012, the Bank of Scotland repossessed it. In April 2014, the castle was put on auction at a starting price of 1.1 million pounds, wrote the local media, but in the end the price was reduced to 1 million pounds. A year ago, it was about $ 1.5 million, or 81 million rubles. In October 2014, it became known that the buyer is the Russian businessman Sergey Fedotov.

The MIA reported about Fedotov’s detention on 28th of June. According to the investigators, he misled the members of the RAO Board, who decided to transfer on the balance of JSCo Servisno-expluatatsionnaya kompaniya (Service-operating company) (SEK) one building and three non-residential facilities which were subsequently sold to third parties. The MIA said the damage caused amounted to more than 500 million rubles, whereas, according to Fedotov’s defense, in the decision on prosecution the sum is 297 million rubles. Fedotov denies his guilt.

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