The court declared Alexander Galitsky and his foundation an “extremist association.” Property worth eight billion rubles was seized from a businessman

The Tverskoy District Court of Moscow, at the request of the Prosecutor General's Office of the Russian Federation, recognized the investor Alexander Galitsky and his venture fund Almaz Capital Partners as an “extremist association” and banned their activities in Russia. Interfax reports this.

The court also decided to confiscate property worth eight billion rubles from Galitsky for state income. We are talking about an apartment and five parking spaces in Moscow, a country cottage and a garage, as well as a plot of land in the Moscow region worth more than a billion rubles, as well as bank accounts.

According to the court, Russian property allows Galitsky and the foundation to “conduct economic activities, which, given their commitment to extremist ideology, pose a direct threat to the national security of the state.”

• According to the Prosecutor General's Office of the Russian Federation, the Galitsky Foundation supports the leadership of Ukraine and provides financial assistance to its armed forces. In particular, the fund allegedly sent more than $50 million to Ukrainian companies involved in the production of ammunition, UAV components and other weapons.
• Galitsky denied this. According to him, since its creation the fund has been investing “exclusively in civilian projects”; its charter “prohibits any investment in the production of weapons and military equipment.” Since 2020, Galitsky himself has not been involved in the strategy of the fund, and since 2022, in its management.
• In early February, Galitsky’s ex-wife Aliya Galitskaya was arrested in connection with the case of extorting $150 million from him. A day later, she was found dead in a temporary detention center near Moscow; she committed suicide. On March 10, the case against Galitskayawas dropped for lack of evidence of a crime.