Former Moscow Real Estate Developer Suspected of Fleeing US After Breaking $150 Million Pledge
Ashot Yegiazaryan, a former Moscow real estate developer and Duma member, is facing allegations of fleeing the United States after reneging on a pledge to turn over more than $150 million in a politically charged business dispute. Yegiazaryan, who sought asylum in the US, is suspected of leaving the country after failing to fulfill commitments made in a Los Angeles federal court.
The 58-year-old Beverly Hills resident had signed documents before Judge Gary Klausner on July 18, outlining a series of legal actions he would undertake in foreign courts. These actions were meant to enable his former partner, Vitaly Smagin, to collect on an $84-million judgment awarded to him by an arbitration panel in 2014. The judgment, which stemmed from a dispute over a Moscow mall, had accumulated substantial interest.
Yegiazaryan signed these documents during a civil contempt hearing, held under the threat of incarceration. For years, he had employed financial and legal tactics to obstruct Smagin’s attempts to recover what he is owed. The signed documents required Yegiazaryan to cease interfering with a Liechtenstein trust holding the funds and withdraw a request in divorce proceedings in Moscow that sought to divide the trust funds with his ex-wife, among other obligations.
The former developer has consistently claimed that he is the target of a witch hunt orchestrated by his adversaries in the Putin government, with whom Smagin has allegedly collaborated. Yegiazaryan made this assertion in a 2015 federal court filing in Los Angeles when contesting a worldwide freeze on his assets.
Nicholas Kennedy, Smagin’s lead attorney, has strongly denied any association between his client and the Russian government. In recent court filings, Kennedy accused Yegiazaryan not only of breaking the promises to allow Smagin to receive his payment but also of explicitly disavowing those commitments through a notarized statement.
According to Kennedy, the notarized statement amounts to perjury and criminal contempt, prompting him to request an arrest warrant for Yegiazaryan. However, Judge Klausner rejected the request, ruling that the document lacked legal validity.
Yegiazaryan’s case has garnered international attention since he fled Russia in 2010, citing concerns for his safety following a dispute with oligarchs closely aligned with the Putin regime. This legal battle has been cited in think tank reports as an example of how the Russian government exploits foreign judiciaries to achieve its objectives.
There are suspicions that Yegiazaryan is no longer in the United States, although the Russian government has sought his arrest if he attempts to travel internationally.
In conclusion, Ashot Yegiazaryan, the former Moscow real estate developer and Duma member, is believed to have fled the US after failing to fulfill a $150 million pledge in a politically tinged business dispute. His departure follows allegations of breaking promises made in a Los Angeles federal court, raising questions about the ongoing legal battle and the involvement of the Russian government.
