A former Russian oil magnate’s lawsuit to recover half of his lost $150 million fortune from the Edmond de Rothschild bank was dismissed by a judge in New York.State Supreme Court Justice Joel Cohen on Thursday ruled that the U.S. was the wrong forum for the case, because most of the evidence, defendants and transactions were overseas.Sergey Bogdanchikov, who rose from the son of a schoolteacher and a farm mechanic on the Russian steppe to lead the energy giant Rosneft at one time, filed the case in New York last year. He claimed that the bank’s Luxembourg unit conspired with a Brighton Beach couple and a Manhattan investment manager to siphon off his fortune through inflated fees and kickbacks while hiding behind “the luster and reputation” of the Rothschild name. Hovering over the case was the allure of Swiss banks as the world’s safest repositories of wealth.
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