Tycoon Pugachev files $12 billion claim against Russia

September 22, 2015 9:51 AM

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Tycoon Pugachev files $12 billion claim against Russia

PARIS Sergei Pugachev, a tycoon once dubbed "Putin's banker", has filed a claim against Russia for $12 billion after his business empire was carved up when he fell out of favor with President Vladimir Putin, his lawyers said.

"Over the past few years, Russia has pursued a multi-pronged attack against me, my family, and my investments," Pugachev said in a written statement. "I refuse to be intimidated by Russia's tactics."

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