A Russian gold mining tycoon was blocked from leaving the country over the weekend as authorities moved to nationalize his company and investigate alleged corruption and financial misconduct.

Konstantin Strukov, the CEO of Russia’s third-largest gold producer Yuzhuralzoloto, was reportedly preparing to fly from the Chelyabinsk region to Turkey on Saturday aboard his private $50 million Bombardier jet when federal aviation authorities halted his departure, the Kommersant business daily reported.

Footage published by Kommersant shows Strukov sitting in the cabin of the grounded aircraft as several security officials stand nearby.

Russia’s federal aviation agency, Rosaviatsia, canceled the flight at the last minute, citing the aircraft’s “arrested” legal status.

Bailiffs subsequently boarded the plane and confiscated Strukov’s international passport, which officials from the Interior Ministry had already voided.

The attempted departure came just days after the Prosecutor General’s Office filed a court motion to seize Strukov’s assets, including shares in 11 companies, among them Yuzhuralzoloto.

In addition to his business roles, Strukov is a deputy chairman of the Chelyabinsk regional legislative assembly and a member of the ruling, pro-Kremlin United Russia party.

Prosecutors have accused the 66-year-old executive of leveraging his political clout to acquire lucrative gold and coal mining assets, often registering them under the names of relatives and associates.

A court order had previously barred Strukov from leaving the country.

Strukov previously denied any intention of fleeing prosecution, insisting, “There’s nowhere for me to go.”

Representatives for Yuzhuralzoloto denied reports that Strukov had attempted to leave the country, saying he spent Saturday working at the company’s Moscow office.

His granddaughter, Ulyana, echoed that claim in comments to the Ostorozhno Novosti media outlet, adding that the family had long been the subject of “false rumors.” She did not explain the footage showing Strukov aboard the jet.

Russian law enforcement officials allege that Strukov helped relatives acquire citizenship in several European countries.

His daughter Alexandra reportedly hold Swiss citizenship and lives outside Russia, though she is listed as a shareholder in Yuzhuralzoloto and affiliated companies. Other members of the family reportedly control business assets in Montenegro and Serbia.

Security and tax authorities have accused Strukov of funneling profits from his Russian operations into so-called “unfriendly” nations.

In 2024, Yuzhuralzoloto produced 10.6 metric tons of gold, generating revenue of 25 billion rubles ($320 million). Despite its output, the company posted a net loss of 7.2 billion rubles ($90 million).

On July 2, law enforcement officers raided the offices of Yuzhuralzoloto and related firms as part of a criminal investigation into environmental violations, industrial safety breaches and illegal operations at mining facilities. Days later, Russian authorities formally began the process of nationalizing the company.

Strukov, Russia’s 78th-richest man, has not been officially named as a suspect in the environmental probe.

—The Moscow Times