Russian intelligence officers pulled off a rare and surprising arrest on August 5, capturing Vyacheslav Solovyov, the former chief executive of VEB-Leasing, in Dubai’s largest shopping center, Dubai Mall. General Alexander Filatov, the chief of the Foreign Intelligence Service’s (SVR) Internal Security Directorate, personally oversaw the operation, according to the exiled investigative news organization The Insider.
Russian Intelligence Conducts Rare Extradition in Dubai to Arrest Former VEB Executive
Given how infrequently the United Arab Emirates (UAE) consents to extradite Russian-wanted criminals, this arrest is exceptional. Nevertheless, months of covert talks between UAE and Russian authorities led to Solovyov’s termination. Following his arrest, he was taken to the Russian Embassy in Dubai, where he was flown to Moscow the following day.
Now facing major espionage allegations, Solovyov could spend 10 to 20 years behind bars. He also faces charges of fraud. These charges indicate that Russian authorities consider him a major security threat and a criminal accused of serious wrongdoing. The operation showed Russia’s commitment to pursuing those they accuse, even outside the country’s borders.
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Who Is Vyacheslav Solovyov? The Former VEB-Leasing Head Accused of Fraud and Espionage
Vyacheslav Solovyov led VEB-Leasing from 2008 to 2016. VEB-Leasing is a subsidiary of VEB, also known as Vnesheconombank, which is a large state-owned bank in Russia focused on development projects. Solovyov abruptly quit his job in March 2016. Later, he disclosed to his coworkers that he had traveled to Switzerland for medical care. However, he never returned to Russia after that.
After his disappearance, VEB’s management started an internal audit to investigate. The audit found that VEB-Leasing had suffered huge financial losses amounting to 14 billion rubles, or roughly $176 million, in the year 2015 alone. This raised alarms and led to a formal investigation.
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In 2018, investigators charged Solovyov and several other senior executives with fraud. They claimed that these executives had made deals with companies connected to themselves on unfair terms. According to the investigation, these contracts made the price of transport equipment double what it should have been. The money gained from these inflated deals was allegedly moved to offshore bank accounts, which is illegal.
Along with the fraud charges, Solovyov also faces espionage allegations. Espionage means spying for a foreign power or betraying national secrets. If found guilty, this crime carries a very harsh punishment in Russia.
Key Figures and Details Behind the Dubai Arrest
General Alexander Filatov, a prominent member of Russia’s Foreign Intelligence Service (SVR), oversaw the arrest operation. He is in charge of the prestigious Zaslon unit and the Internal Security Directorate. senior diplomatic posts are guarded by this special squad, which also secures senior Russian officials when they travel overseas.
Filatov started his career in the Internal Security Directorate of the Federal Security Service (FSB). He was sent to the foreign intelligence service after being considered for a high-level position in the FSB. The Insider reported that Filatov is part of the close group around Igor Sechin, the powerful chief of Rosneft, Russia’s giant state oil company.
Russian security agencies had tracked Solovyov’s location for over a year before the arrest. The fact that the UAE agreed to hand him over to Russia is unusual because the Gulf country normally refuses to extradite suspects wanted by Russia.
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The Insider revealed that behind-the-scenes negotiations went on for months before the arrest could happen. These talks helped pave the way for this rare cooperation.
This case highlights how far Russian intelligence will go to capture people accused of crimes linked to major state organizations like VEB. It also shows the importance Russia places on holding these suspects accountable, even when they leave the country.
Vyacheslav Solovyov’s arrest and swift extradition back to Russia show a strong message from Moscow about its efforts to fight espionage and financial crimes connected to its state institutions.
