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Russian Investigators Probe Killing of Convicted Crypto Fraudster in UAE

Anna and Roman Novak. t0r / Instagram

Russian investigators have opened a criminal case into the suspected murder of a St. Petersburg couple who went missing in the United Arab Emirates in early October, as media reported Friday they were kidnapped and killed after being held for ransom.

Relatives of Roman Novak and his wife Anna, who lived in Dubai, reported their disappearance after they failed to make contact for several days, according to a statement by Russia’s Investigative Committee, which probes major crimes.

The couple’s driver last saw them on Oct. 2, when he dropped them off near a lake in the Hatta area close to the border with Oman for what was described as a meeting with potential investors. The pair transferred to another vehicle and were not seen again.

The St. Petersburg news outlet Fontanka, citing anonymous sources, reported that eight Russian citizens are suspected of involvement, including three alleged organizers and five hired intermediaries.

Seven of the suspects have reportedly been detained in Russia and investigators are working with UAE authorities to establish the full circumstances of the crime. 

Fontanka cited sources saying the victims were lured to a rented villa under the pretext of an investment meeting, where they were attacked and killed after failing to provide access to cryptocurrency funds. Their dismembered remains were reportedly found on Oct. 3 near the city of Fujairah.

Russian and Emirati law enforcement appear to have traced the suspects’ movements via surveillance footage and phone signals that appeared briefly in Oman and later in South Africa before disappearing on Oct. 4.

According to Fontanka, four of the five intermediaries are expected to be released this week after investigators established that they were used to arrange what they thought was an investment meeting.

Roman Novak gained notoriety in Russia’s crypto scene after presenting himself as a successful entrepreneur and claiming ties to Telegram founder Pavel Durov.

He founded the platform Fintopio, promising fast crypto transfers and partnerships with major tech firms, and attracted investors from Russia, China and the Middle East.

In November 2020, Novak was convicted of fraud and sentenced to six years in a St. Petersburg prison for defrauding partners in investment and crypto projects.

He was released in 2023, after which he moved abroad and continued to attract investment into new ventures.

The couple is survived by two young children who have been placed in the care of relatives.

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