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Statement by Andrei Borodin’s Defence Team

Moscow, London, 17 March 2012 – Today’s announcement by the General Prosecutor’s Office of the Russian Federation that it has requested that Andrey Borodin, the founder of the Bank of Moscow, be extradited from the United Kingdom has been expected by Mr Borodin for some time.

Mr Borodin’s legal team had previously been in touch with the British authorities informing them that they expected an extradition application and confirming that their client proposed to cooperate fully with them. There has never been any question of Mr Borodin concealing his whereabouts.

Mr Borodin denies the allegations of criminal conduct on his part and maintains that the prosecution is without foundation and is politically motivated.

Mr Borodin will robustly defend the extradition proceedings and is confident of a successful outcome.