The High Court in London has ruled a prominent Russian businessman cannot pause an $850 million fraud lawsuit brought by two Russian banks because of British sanctions. Boris Mints and his sons Dmitry, Aleksandr, and Igor are being sued by National Bank Trust, which is 99 percent owned by Russia's central bank, on behalf of Bank Otkritie, once Russia's largest private lender before its 2017 collapse. Lawyers representing the Mints family -- who deny the fraud allegations -- say the lawsuit should be indefinitely put on hold because, if the banks win at trial, damages could not be paid, as Bank Otkritie is under British sanctions. To read the original story by Reuters, click here.
U.K. Court Says Russian Businessman Cannot Pause $850 Million Fraud Case Over Sanctions
Boris Mints and his sons Dmitry, Aleksandr, and Igor are being sued by National Bank Trust, which is 99 percent owned by Russia’s central bank, on behalf of Bank Otkritie, once Russia's largest private lender before its 2017 collapse. (file photo)