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November 3, 2010

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Russian police raid tycoon's bank

AT least 20 armed Russian police officers raided a Moscow bank controlled by the billionaire owner of Britain's Independent and Evening Standard newspapers yesterday, his aide said.

Tycoon and former KGB spy Alexander Lebedev was in the Moscow offices of his National Reserve Bank when police investigators arrived with an armed guard to seize documents, Lebedev aide Artyom Artyomov said.

Lebedev has ruffled feathers in the Kremlin in recent years by funding an opposition newspaper and standing against government candidates in elections, but his spokesman said he did not believe politics was behind the raid.

"This is known as a mask show in Russia: there are 20 or 30 people in masks and carrying automatic weapons," he said.

A Reuters photographer said two masked men holding semi-automatic weapons could be seen by the building.

Artyomov said Lebedev was still present at the offices but refused to speculate on what the raid could be linked to.

"They are looking for something, but I have no idea for what," he said. "We have absolutely no idea what is going on."

A Moscow police spokeswoman confirmed that agents from law enforcement agencies were at the bank's offices but gave no further details.

A former KGB spy who once worked at the Soviet embassy in London, Lebedev built a fortune by trading securities in the chaos that followed the 1991 collapse of the Soviet Union.

Lebedev is worth US$2 billion and is the world's 488th richest person, according to the latest global rich list published by Forbes magazine.



 

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