Russian Billionaire Alexei Kuzmichev Arrested in France

Russian billionaire and co-founder of Alfa Group, Alexei Kuzmichev, has been arrested in France. According to Le Monde, citing anonymous sources, he is suspected of money laundering, tax evasion, and other crimes, including breaches of sanctions regulations.

Searches were carried out at the businessman’s residence in Paris, as well as at a villa located in Saint-Tropez. A total of 60 individuals participated in the investigation, including 40 special forces who secured the 2-hectare villa area.

The fact of Kuzmichev's detention has been confirmed by the financial prosecutor’s office. Kuzmichev was placed under personal sanctions by the European Union in March 2022, which led him to resign from the board of directors of Alfa Bank, where he held a 16% stake.

Under the sanctions, Kuzmichev was banned from entering the EU; however, as reported by Le Monde, he was already in France when he was listed on the sanctions list.

According to Forbes, Kuzmichev's fortune amounts to $6.4 billion, placing him 25th among the wealthiest Russians.