The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Borodin gives Putin dilemma

       
Pavel Borodin

The arrest in New York of the Kremlin's top property manager Pavel Borodin, on a Swiss warrant issued almost a year ago, leaves president Vladimir Putin with a tough choice. Is he willing to sacrifice one of his own for the sake of Russia's reputation?


Borodin caught Boris Yeltsin's eye through his adroit administration and Siberian dumplings and Yeltsin gave him control of the government's $650 billion property portfolio.


He rebuilt the Russian White House after Yeltsin unleashed tanks on it in the fracas with communist hardliners and restored Kremlin palaces, churches, and Yeltsin's residence to their tsarist splendour.


But at the end of Yeltsin's term he was caught up in a corruption scandal. Swiss companies Mabetex and Mercata Trading were accused of paying kickbacks, some allegedly to Yeltsin allies. Bernard Bertossa, Geneva's chief prosecutor, says Borodin is wanted for involvement in laundering $25 million.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree