The Deposit Insurance Agency (DIA) sold the Lower Venn Farm estate of the 18th century in the English county of Herefordshire, to the Russian ex-senator and founder of Mezhprombank Sergey Pugachev for 1.6 million pounds sterling, the state corporation said. The deal on the sale of the estate was closed on March 17, proceeds from it went to the competitive mass of Mezhprombank. Taking into account the proceeds from this transaction, the total amount of proceeds in favor of the bank based on the results of foreign legal proceedings against Pugachev now exceeds $4.2 million, the agency said.

Lower Venn Farm is the only one of the disclosed assets of Sergey Pugachev, not hidden behind the trust.

In April 2015, the Moscow Arbitration Court brought Pugachev to subsidiary liability for Mezhprombank's debts by 75.6 billion rubles, and in February 2016 the High Court of England recognized the definition of the Russian court, and then the Supreme Court of the Cayman Islands also recognized the ruling. In February, the English court found Pugachev guilty of 12 cases of disrespect to the court and sentenced him to maximum punishment: two years in prison. The court found it proved that Pugachev was giving false testimonies under oath, did not comply with the requirements for disclosing assets, withdrew assets, than violated the orders of the court. Pugachev is hiding in France, the DIA said. He has the citizenship of this country. The agency recalls that the trials of recognizing and enforcing the definition of the Russian court are in France and Luxembourg.

In May of last year, the DIA secured the imposition of interim measures on Pugachev's assets in France, Luxembourg and the Cayman Islands. The arrest is imposed on the 47-meter DB9 yacht of Palmer Johnson, registered in the Cayman Islands, and the French Pugachev's villas, including Chateau de Garo, Annuscu, the Valberg chalet, and Villa No. 40 in Saint Jean- Cap Ferrat. The DIA continues to take measures to enforce the Russian court's ruling on these assets, the agency said, the total value of elite real estate in France is "tens of millions of dollars." Formally, assets are managed through the discretionary trusts of New Zealand, writes ASV. The proceeds from the sale of assets will go to the competitive mass of Mezhprombank.

Mezhprombank was deprived of the license on October 5, 2010, and after a while was declared bankrupt. In early 2011, Pugachev left Russia. In 2013, the Main Investigation Department of the Investigative Committee initiated a criminal case, accusing Pugachev of appropriating property on an especially large scale. In July 2014, on the suit of the DIA, the London court froze Pugachev's assets for up to $2 billion.