Assets of arrested former minister Abyzov frozen in Singapore

Assets of arrested former minister Abyzov frozen in Singapore
Mikhail Abyzov

The company of the arrested former official owed a bank about $ 155 million.

Alfa-Bank secured the seizure of assets of former Minister of the Open Government Mikhail Abyzov in Singapore to levy a loan of about 10 billion rubles ($ 155 million) received by the ex-official’s company E4, The Bell reports. According to the publication, real estate, cryptocurrency and companies that own Emmerson, a company registered on the BVI and litigating with Viktor Vekselberg, were arrested. 

Abyzov created the engineering company E4 before becoming a minister. Since 2012, according to Abyzov, he was not engaged in business. Alfa-Bank was the main creditor of E4 and claims in court that the debtor is evading the return of money. 

Earlier, Abyzov’s assets worth 27 billion rubles ($ 420 mliion) were frozen in due to the charges of swindling, creation of a criminal community and illegal business. The investigation estimated the damage in two cases at 36 billion rubles ($ 560 million).

Tags: Courts Banks
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