MOSCOW – Vadim Moshkovich switched paths multiple times during the Post-Soviet era of wild capitalism, from distributing vodka to flipping apartments. He ultimately made his big bet on commodities, founding Ros Agro, the Russian agricultural firm behind his fortune.
Decades in the making, it all came crashing down in May when a Moscow court ordered the seizure of his family’s 49 per cent stake in the company. His crime, prosecutors say, was violating a ban on combining public service with business activities while he served in the upper chamber of Russia’s Parliament between 2006 and 2014, and abusing his political position for illegal enrichment.
The country’s billionaires are under increasing state pressure, with charges ranging from corruption to accusations of giving non-military support to the enemy and even dual citizenship. Asset seizures are breaking up business empires and redistributing wealth, often transferring it to more loyal business groups.
Wealthy Russians see empires crumble as Putin seizes assets | The Straits Times
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