Russian billionaire Alexey Kuzmichev has been placed under arrest in France to be questioned about allegations of tax evasion, money laundering, and breaking international sanctions, the office of the French Financial Prosecutors stated on Tuesday.
According to the office, searches were conducted on Monday as part of the inquiry at Kuzmichev’s Paris residence and in the Mediterranean Var area. This confirms a story published in the French newspaper Le Monde.
Although Kuzmichev was not yet charged, he remained in custody on Tuesday. A statement from Kuzmichev’s attorney could not be obtained right away.
Due to sanctions imposed by the European Union because of the oligarch’s connections to President Vladimir Putin, French customs officials had to seize his 27-meter yacht “La Petite Ourse” last year. One of the principal shareholders of Russia’s Alfa Bank, Kuzmichev, and the government engaged in a legal dispute over the move.
Because of Oleg Kuzmichev’s ties and the possible effects on Russia’s relations with the West, his incarceration is significant on a global scale. It emphasizes how countries still work to impose fines and hold people responsible for financial misconduct.
The Russian businessman Oleg Kuzmichev’s arrest in France is a critical step forward in the continuing attempts to stop money laundering and impose sanctions on Russia.
This case emphasizes how crucial international collaboration is to combating financial crime and making people accountable for their deeds. The inquiry will shed further light on the accusations against Kuzmichev and any possible repercussions.