INSUBCONTINENT EXCLUSIVE:
Yuzhuralzoloto Group of Companies (YUGK) and 10 affiliated firms from billionaire and regional lawmaker Konstantin Strukov
The case was accompanied by widely publicized raids on the companies' offices.Prosecutors allege that Strukov, who previously led
Yuzhuralzoloto before entering politics, illegally took control of the company using his position in government
The lawsuit claims he restructured the firm into a public joint-stock company and transferred ownership to close associates and his daughter
Alexandra Strukova, who holds Swiss citizenship.The Sovetsky District Court ruled in favor of the prosecution and ordered the immediate
seizure of all assets, Interfax reported
The trial, which lasted less than two days, was held behind closed doors.A YUGK representative told Interfax that the company would decide
billion, serves as deputy chairman of the Chelyabinsk regional legislative assembly and is a member of the ruling United Russia
party.Yuzhuralzoloto reported 25 billion rubles ($320 million) in revenue from producing 10.6 metric tons of gold in 2023 but posted a net
loss of 7.2 billion rubles ($90 million).Since launching its full-scale invasion of Ukraine in February 2022, the Russian government has
confiscated an estimated $50 billion in private assets, roughly equivalent to its annual budget deficit or one-third of its yearly military
