Switzerland Returns $52 Million of Assets Stolen From Russia's Aeroflot

Switzerland returned 53 million Swiss francs ($52 million) in assets stolen more than a decade ago from the state-run Russian airline OAO Aeroflot.

The money was paid into an Aeroflot account in Zurich today after Russian prosecutors agreed that the funds should be returned directly to the airline, the Swiss Justice Ministry said in an e-mailed statement. Those responsible for the fraud have been convicted in Russia, it said without elaborating.

When Russian authorities requested Swiss legal assistance in the case starting in 1999, Switzerland agreed to freeze various bank accounts and start its own money-laundering and fraud investigation, the ministry said. Switzerland’s Federal Criminal court found one of the accused guilty of “abetting qualified misappropriation” in 2008, it said.

None of those involved were identified.

To contact the reporter on this story: Paul Verschuur at pverschuur@bloomberg.net

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