Russian Billionaire Alexei Kuzmichev Detained in France over Suspected Tax Fraud, Money Laundering, and Sanction Violations

Eu sanctions target detained at one of his properties in Saint-Tropez; Paris mansion also raided as part of investigation into alleged violations.

Russian billionaire Alexei Kuzmichev, an ally of President Vladimir Putin, has been detained in France for suspected tax fraud, money laundering, and violation of EU sanctions.
French police conducted raids at Kuzmichev's properties in Saint-Tropez and Paris, as part of a major investigation led by France's anti-corruption office.
Kuzmichev, co-founder of the Russian finance consortium Alfa Group, had been listed by Forbes as the 389th richest person in the world, with an estimated net worth of $6.4bn.
European Union had imposed sanctions on Kuzmichev in March 2022, shortly after Russia's invasion of Ukraine, furthering freezing two of his yachts, La Petite Ourse and La Grande Ourse.
A decision on Kuzmichev's appeal to lift the EU sanctions is due in mid-November.