Support The Moscow Times!

Interpol Declares Hunt for Former 'Church Banker'

Pugachyov, 51, fled Russia in 2011 after his bank was declared bankrupt.

A once-prominent Russian banker with ties to the Kremlin and the Russian Orthodox Church has been put on Interpol's wanted list, according to the police organization's site.

Sergei Pugachyov (Pugachev in Interpol's spelling) is wanted by Russian prosecutors for "misappropriation or embezzlement," Interpol said on its website.

Pugachyov had made no public statement as of Thursday. He fled Russia in 2011, reportedly for the French resort of Nice, and The Financial Times later reported that he resided in Britain.

The "red notice" issued by Interpol requires the immediate arrest of the suspect. Neither British nor French authorities had commented on it as of this article's publication.

Pugachyov, 51, made a fortune in banking and shipbuilding. In 2008, Forbes Russia estimated his assets at $2 billion.

He earned the unofficial nickname of the "church's banker" over his piety and ties to the church, which has received lavish state subsidies in recent years. Pugachyov reportedly donated money to a monastery headed by the spiritual adviser of President Vladimir Putin.

However, he fell from grace in 2011, when the Investigative Committee accused him of deliberately bankrupting his Mezhprombank, then a top-30 bank in Russia.

Pugachyov, who represented Tuva in the upper house of parliament from 2001 to 2011, faces up to 10 years in prison if extradited to Russia.

In July, the High Court of Justice in London seized £1.1 billion ($1.7 billion) of his assets as part of a lawsuit filed by Russia's state-run Deposit Insurance Agency.

The banker told The Financial Times last month that the case had been orchestrated by the Kremlin, which, he claimed, wanted to take over shipbuilding yards owned by Pugachyov.

He also attacked Putin in the interview, saying the president does not understand the notion of private property.

"Today in Russia there is no private property. There are only serfs who belong to Putin," Pugachyov said, less than two months before he made the Interpol wanted list.

Contact the author at a.eremenko@imedia.ru

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more