Late Russian oligarch's son-in-law sues Revolut over 'debanking'

Ildar Uzebekov alleges that Revolut displayed a «lack of caution and rigor» in closing its account. Photo: Heathcliff O'Mally

Revolut is facing a debanking lawsuit from the son-in-law of a late Russian oligarch who claims fintech unfairly closed his account.

Ildar Uzbekov, a British citizen of Kazakh origin who owns a vineyard in Kent, launched a legal battle against Revolut earlier this year over allegations that the firm had unexpectedly fired him in 2020.

Legal documents with which reviewed by The Telegraph show that Mr. Uzebekov alleged that Revolut demonstrated a «lack of caution and rigor» when it closed his account because it relied on incorrect media reports.

Court documents allege that his account was initially frozen for six years. weeks before it was deactivated without any explanation.

Revolut defends the lawsuit.

The legal battle arose after the scandal involving Nigel Farage, the former leader of the British Independence Party. whose bank account was closed by Coutts in June due to his political views.

The controversy led to the departure of Dame Alison Rose, chief executive of the NatWest Group, which owns Coutts, and Peter Flavel, who resigned shortly thereafter CEO of Coutts.

Nigel Farage, banking scandal,

Mr. Uzbekov's case matters. are not related to his political views, but the documents showed that Revolut closed his account due to «hostile media» regarding his alleged ties to Russia.

He claims that the articles do not contain «unfavorable accusations» of his address, but rather his father-in-law, Alexander Shchukin, a Russian mining tycoon who died two years ago.

Mr. Uzbekov said there was «no good reason» to suspect that he was acting fraudulently and claimed that the closure of his account caused him «suffering and inconvenience».

In 2020, he told the Observer, that he was the victim of a Kremlin-backed smear campaign: “I am a British citizen and this was an attempt to destroy me and my family.”

Mr Uzbekov, whose wife runs a gallery in Mayfair, London, said the processes were flawed Revolut could have «potentially very serious consequences». for customers.

A Revolut spokesman said: “We cannot comment on the allegations that are the subject of ongoing litigation.”

Mr. Uzbekov declined to comment.

A legal scandal has been the latest headache for Revolut as the company tries to save its application for a UK banking license.

Earlier this year, the company suffered the resignation of two top managers and a warning from an independent auditor that its earnings for 2021 “may be materially misstated.”