Russian Seizes Assets of U.S. Fund Amid Ukraine Conflict Allegations

Russian prosecutors seek to seize U.S. private equity fund NCH Capital's assets, alleging its owners funded Ukraine's military. The lawsuit targets NCH founders, citing Ukrainian subsidiaries aiding military efforts. AgroTerra, a top Russian agricultural landholder owned by NCH, falls under state management by presidential decree.

In a significant legal move, Russian prosecutors are pressing a Moscow court to confiscate the assets of the U.S. private equity fund, NCH Capital. This action is based on allegations that the fund's proprietors supported Ukraine's military financially, according to reports from the Kommersant newspaper referencing court documents.

The lawsuit, filed December 9, implicates NCH Capital's founders, George Rohr, a U.S. citizen, and Moris Tabacinic from Austria. Established in 1993, the fund controls AgroTerra, a major agricultural landholder in Russia, recently subjected to temporary state management by Russian President Vladimir Putin's decree in April 2024.

Further insights from court documents suggest NCH Capital's involvement in a Ukrainian charity fund purportedly aiding military operations. Allegations include their subsidiary, Agroprosperis, providing logistical support to Ukraine's military. With a lawsuit valuation pegging AgroTerra's assets at 73 billion roubles, the case underscores escalating geopolitical tensions.

(With inputs from agencies.)