The Russian Government Has Its Eyes All Set on This Coveted Scottish Castle as They Settle a $700 Million Lawsuit
As one of Russia’s biggest full-service commercial banks, Otkritie, falls and becomes nationalized, the Russian government is now looking to take possession of around 140 properties all over the world as part of a lawsuit against the Russian bank’s ex-owners and executives.
Among these is a Scottish castle, as the Scottish Financial News reports.
The property in question is the Tower of Lethendy, a 1570-built structure located in Perthshire, Scotland. The castle is reportedly one of billionaire Boris Mints’ many real estate holdings. The 61-year-old Russian businessman was once the president of the Otkritie Financial Corporation but ceased to be a shareholder of the bank in 2013.
The Russian Central Bank is reportedly going after his properties as a means to take back the losses they had to sustain when the government bailed out Otkritie for a whopping $8 billion.
According to reports, the Tower of Lethendy is among the Russian government’s ‘wishlist’ as it works to settle the $700 million lawsuit currently lodged in England’s High Court of Justice.
The bank has an estimated 440 locations in the Eurasian country and was co-founded by the now Eurasian Development Bank executive Igor Finogenov in 1996. According to reports later on released by the central bank, they found that the assets of the bank were ‘largely fictitious’.
Meanwhile, the Tower of Lethendy is described to be among the ‘most luxurious country houses’ in the northern United Kingdom country.
The impressive estate is surrounded by about 40 acres of land where amenities like an 18-hole golf course, tennis courts, and a swimming pool can be found.
The main house, complete with turrets, has eight bedrooms and seven bathrooms inside. Also found within the Scottish estate’s compound are two cottages and a lodge.
The property was also linked with American pop singer Taylor Swift a few years back when rumors began swirling that she was looking to purchase the castle. It was valued at $7.16 million at the time, and Swift was supposedly eyeing it as a base to be near her then-boyfriend Calvin Harris, who is Scottish. However, these rumors were eventually dispelled by the singer in a tweet.
Mints, along with his sons, maintain that they are innocent of any financial wrongdoing in relation to Otkritie. They are reportedly scheduled to defend themselves against the allegations in court in April of next year.
While he left the bank years before its fall, the billionaire reportedly maintained ties with it and even sold bonds to Russian banks as a part of a ‘fraudulent scheme’ using his company O1 just days before the collapse just to pay off some debts.
More in Criminal Attorney
Back Pain from a Slip-and-Fall Accident: Symptoms and Treatments
According to the Centers for Disease Control, about 1 out of 5 falls causes a serious injury including back pains. There...February 11, 2020
Law Students Are Using Crazy Tactics to Stay up All Night And It’s Taking a Toll on Their Health
If you are studying law right now, chances are, you are committed to the profession, and rightfully so, since you’re in it...February 11, 2020
This Grandmother Filed a Lawsuit for Suffering Emotional Trauma from Daughter’s Childbirth
Most family members are thrilled to watch their loved ones give birth, but one grandmother was particularly horrified after witnessing a traumatizing birth...February 11, 2020
Unilever Stole This Product Idea from a Scientist, 13 Years Later Justice Has Been Served
Waging a legal war against a corporate giant is no easy feat but it is a battle worth fighting for, especially when there...February 10, 2020
Thinking of Taking a Friend’s Debt to Court? Here’s What You Need to Know about a Money Claim
Your landlord doesn’t want to return your security deposit or you’ve been scammed by a seller – in both situations, the...February 10, 2020
Good Guy Turned Bad? Judge Portrayed in American Gangster Faces a Five-Year Probation Because of This SHOCKING Reason
Have you watched the 2007 film American Gangster? There’s a reason it got a series of nods from award-giving bodies: its...February 10, 2020
Are You Too Old for Law School, Here’s What You Need to Consider Before Choosing the Major
If you are here, that means you, like many others, chose a career path that has proved to be unsatisfactory. Now...February 10, 2020
‘Money Issues’ Is the Third Leading Cause of Divorce in America—Here’s How Couples Can Avoid Fighting About Financial Matters
After ‘basic incompatibility’ and infidelity’, ‘money issues’ is cited to be one of the leading cause of a couple’s decision to...February 7, 2020
Fitness App Makes Woman Lose Thousands of Dollars in Personal Injury Money!
Sharing information online is the ‘it’ thing for most people today. In fact, social media and its apps have given people...February 7, 2020