Swiss court blocks Herman Khan's transfers to his son-in-law

The 20 million francs (around $23 million) frozen in Switzerland, which Russian billionaire German Khan tried to transfer as donations to his wife, daughter and her husband in a Swiss bank shortly after the start of the military operation in Ukraine , will remain blocked, Handelszeitung reports, citing a ruling by the Federal Administrative Court, which heard Khan's appeal.

The name of the bank involved in the case is hidden. According to Handelszeitung, the decision not to transfer Khan's money was made by the financial institution itself, after which the bank blocked the account and notified the State Secretariat for Economic Affairs (Seco).

Khan is a co-founder (along with another billionaire, Mikhail Fridman) of Alfa Group and a former shareholder of Alfa Bank. According to Russia's FORBES , he ranks 20th in the ranking of Russian billionaires with a fortune of $8.5 billion. His assets include stakes in the German oil and gas company Wintershall DEA, Letter One, the VEON holding, Turkcell, and X5 Group. In March 2022, Khan was sanctioned by the EU and the UK , and in August 2023 by the US .

Khan has four children — two daughters and two sons, Forbes wrote. The eldest daughter, Eva, is married to Dutch lawyer Alex Van der Zwaan. In April 2018, he was sentenced to 30 days in prison for lying to the FBI about his ties to Rick Gates, an associate of Paul Manafort, Donald Trump's former campaign manager.