Russian oligarch dubbed 'Putin's banker' whose lover complained she couldn't live on £10,000 a week flees to France

  • Banker was once trusted friend of Russian president Vladimir Putin
  • But Russian authorities now want him over alleged £655million theft
  • His assets were frozen by a British court, leading his lover to complain
  • He has now gone on the run in France, where he could be arrested 

By Will Stewart In Moscow and Richard Spillett for MailOnline

Published: 03:33 EST, 10 July 2015 | Updated: 11:33 EST, 10 July 2015

A banker who was once one of Vladimir Putin's closest friends has fled London for France claiming he fears for his life.

Sergey Pugachev, 52, who lives with his British socialite partner Alexandra Tolstoy, fell out with the Kremlin leader and is now a wanted man in Russia. 

He has now left the country during a High Court action alleging he stole more than £655 million from Russia, and as he faces an extradition bid by Putin's prosecutors.

Sergey Pugachev was once dubbed 'Putin's banker' but is now on the run over claims he stole millions

Sergey Pugachev was once dubbed 'Putin's banker' but is now on the run over claims he stole millions

'He keeps receiving straightforward life threats against him and for his family,' said a spokesman explaining his disappearance abroad.'

A Russian government body called the Deposit Insurance Agency (DIA) is seeking to recoup a total of almost £2billion in alleged stolen assets from Mr Pugachev who dismisses the claim as political intimidation.

Once dubbed the Kremlin's 'cashier', he denies siphoning money from a bank called Mezhprombank, arguing he was no long associated with the bank.

He is instead demanding £9.6 billion from the Russian government as compensation for the alleged expropriation of his huge business empire, action he will take in France.

Mr Pugachev claims that in London he and his family have been 'watched and followed'.

'The anti-terror department of Scotland Yard SO15 has found in the cars of Sergei Pugachev and his family members, supposedly, explosive bombs.'

Mr Pugachev and his wife Alexandra Tolstoy moved to London after relations with the Russian leader soured

Mr Pugachev and his wife Alexandra Tolstoy moved to London after relations with the Russian leader soured

His spokesman Dmitry Morochenko said Pugachev 'has no doubt that these events are linked to the fact that he sued Russia in the International Tribunal for the expropriation of his assets and demanded a compensation of $15 billion.'

Earlier this year Pugachev was ordered to surrender his passports - including one from France - by a London judge who said he was barred form leaving the country.

It has emerged that the DIA's lawyers Hogan Lovells raided two Pugachev homes in London and a luxury yacht, taking away computer equipment. An email from him was sourced to Paris, it is claimed.

Pugachev is now likely to face an arrest bid in France on an Interpol alert.

He recently claimed that he was one of a small group of kingmakers who brought Putin to the presidency when Boris Yeltsin quit in 1999.

He had introduced the former KGB spy to Yeltsin's daughter Tatyana, the key meeting in him becoming Yeltsin's successor, he said.

Ms Tolstoy hit out after a judge restricting them to £10,000-a-week as part of a freezing order on his assets

Ms Tolstoy hit out after a judge restricting them to £10,000-a-week as part of a freezing order on his assets

He also accused Putin of going back on a promise at a secret meeting between the two men in Amsterdam in 2013 to resolve Pugachev's dispute.

'About a year and a half ago Putin and I met in Amsterdam,' Pugachev told Russian opposition channel TV Rain. 'He said: "I'll definitely work on it, write me the details, I'll sort it out".'

Instead, a criminal case was launched against him in Russia.

Before going on the run, he said he was 'afraid' of being extradited to Russia.

Claiming explosive devices had been detected on his car, he said: 'Those responsible are spiralling backwards, using KGB-style methods that were better left in the past.

'If this is what happens to me outside of Russia, one can only imagine what could happen in Russia.

'These intimidation tactics further support the fabricated nature of the allegations against me.'

Mr Pugachev was last year made the subject of a strict High Court order which capped his and his partner, Alexandra Tolstoy's, spending at £10,000-a-week.

The freeze prevented the couple - who have three children - from selling their two London homes or their villa in the south of France or doing anything to diminish their value. 

Ms Tolstoy complained the order prevented them from maintaining their historic chateau in the hills overlooking Nice which is set in 15 acres and whose neighbours include Elton John.

She said: ‘The budget for that house alone is £1.2 million a year (£23,000 a week), hence the legal appeal. It’s like maintaining a stately home.’

She added: ‘Apart from the five of us, we have live-in nannies and a live-in Bulgarian doctor, because Sergei has a heart problem.’  

Comments (46)

Share what you think

 View all

The comments below have been moderated in advance.

 View all

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

Add your comment

By posting your comment you agree to our house rules.

Who is this week's top commenter? Find out now