10 oligarch owned properties seized

Monday, 4 April 2022 06:30

Federal authorities have blocked the use of several apartments and houses owned by sanctioned Russian oligarchs – but some experts believe many more have escaped so far.

The State Secretariat of Economic Affairs says 10 properties are affected – and while not releasing much more information, it’s widely thought the cantons of Geneva and Bern are the most affected.

The owners are not allowed to rent out or sell the buildings – it’s thought the total value is nearly CHF 6bn.

But it’s likely many others have so far escaped the attention of the authorities. A money laundering expert told yesterday’s NZZ newspaper that many of the oligarchs have not registered properties in their own names.

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