How Russian billionaire Berezovky lost his billions
London, Mar 26: How do you burn through billions?The unexplained death of Boris Berezovsky, whose body was found Saturday inside his upscale English home, has refocused attention on the fantastic wealth racked up by Russia's
LIVING LARGE IN LONDON
How much money Berezovsky really had—and how much he was able to take with him from Moscow—remains shrouded in uncertainty. Rich Russians at the time routinely stashed their money in labyrinthine offshore trusts or held assets under the names of associates or family members. Many deals weren't even put into writing.
What's clear is that the 1998 Russian financial crisis, coupled with Berezovsky's spectacular fall from political grace, had a big impact on his bottom line.
Forbes estimated his post-Moscow fortune in the hundreds of millions. Rival oligarch Roman Abramovich testified in court that Berezovsky had been down to his last $1 million when he fled Russia.
If Berezovsky were strapped for cash, he didn't show it. He rode around London in a reinforced Maybach limousine and was often seen huddled with business contacts in the exclusive hotels that line London's Hyde Park. His string of oversize mansions in England, France and the Caribbean suggested he was a cut above the average millionaire.
Russian officials seemed to believe that Berezovsky had plenty of cash on hand, trying—with mixed success—to claw back some of the exile's assets.
Charges are still pending against him in relation to the alleged embezzlement of some $13 million from Russia's now-defunct SBS-Agro bank. Berezovsky had also previously been convicted in absentia of bilking hundreds of millions of rubles from the airline company Aeroflot and the carmaker AvtoVaz.
How much money Berezovsky really had—and how much he was able to take with him from Moscow—remains shrouded in uncertainty. Rich Russians at the time routinely stashed their money in labyrinthine offshore trusts or held assets under the names of associates or family members. Many deals weren't even put into writing.
What's clear is that the 1998 Russian financial crisis, coupled with Berezovsky's spectacular fall from political grace, had a big impact on his bottom line.
Forbes estimated his post-Moscow fortune in the hundreds of millions. Rival oligarch Roman Abramovich testified in court that Berezovsky had been down to his last $1 million when he fled Russia.
If Berezovsky were strapped for cash, he didn't show it. He rode around London in a reinforced Maybach limousine and was often seen huddled with business contacts in the exclusive hotels that line London's Hyde Park. His string of oversize mansions in England, France and the Caribbean suggested he was a cut above the average millionaire.
Russian officials seemed to believe that Berezovsky had plenty of cash on hand, trying—with mixed success—to claw back some of the exile's assets.
Charges are still pending against him in relation to the alleged embezzlement of some $13 million from Russia's now-defunct SBS-Agro bank. Berezovsky had also previously been convicted in absentia of bilking hundreds of millions of rubles from the airline company Aeroflot and the carmaker AvtoVaz.