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Billionaire Without UK Bank Account Fights Sanctions Probe

  • Petr Aven fighting probe into suspected sanctions evasion
  • NCA says tycoon used mansion accounts to fund lifestyle
Petr Aven

Petr Aven

Source: Bloomberg

Updated on

Russian billionaire Petr Aven, fighting a UK investigation for evading sanctions, used companies supposed to manage expenses for his luxury mansion as a personal “piggy bank,” according to British authorities.

Aven himself has no UK bank account but is suspected of using the accounts held by his wife and estate management firms to fund his lifestyle, lawyers for the National Crime Agency told a London judge Tuesday. The investigation has focused on around £3.7 million ($3.6 million) routed to the UK from an Austrian trust in the hours before European sanctions were imposed.