French court clears Arkhangelsky of criminal charges

The decision by a panel of three judges at the Court of Appeal of Aix-en-Provence in Nice acquitted the Russian shipping, port and insurance entrepreneur of forgery charges brought by Bank Saint Petersburg as part of a multi-country battle over allegedly defaulted loans.

The bank alleged that in 2011 Arkhangelsky filed a forged statement purported to be signed by Denis Vinarsky, director of OMG port subsidiary West Terminal, describing police intimidation against the defendant and OMG staff.

Vinarsky testified in an October hearing that he wrote a similar statement in 2009 but denied writing the final paragraphs and signing the document in question. Arkhangelsky denied forgery and told the court that he received the statement from a third party.

“Nothing was provided to the judge during the investigation to show that the accused person would have been aware that the statement was altered and, on the contrary, he had every reason to trust its signatory Denis Vinarsky,” - wrote judge Bernadette Riviere-Caston, a vice-president in the appeals court, in a late October ruling that only now has come to light.

The panel also dismissed Bank Saint Petersburg’s civil charges against Arkhangelsky.

A spokeswoman and a Paris-based lawyer for the bank could not be immediately reached for this story but the bank is understood to be appealing a portion of the judgment.

The two sides are continuing to fight it out in the UK, where the bank is pursuing a lawsuit alleging that Arkhangelsky misappropriated funds and is liable for $90m in guarantees on defaulted loans. The Russian businessman, meanwhile, has filed counterclaim alleging fraud and political persecution.

TradeWinds magazine (03.12.2015)