Russian Cryptocurrency Fraudster Kidnapped in Dubai and Murdered for Not Paying the Ransom

It was revealed that Russian cryptocurrency fraudster Roman Novak and his wife Anna, who had been wanted for some time, were killed after being kidnapped for ransom in the United Arab Emirates (UAE).

The attack on the couple was reportedly linked to a ransomware attack on digital assets.

According to local media, Novak, who was convicted of large-scale fraud in St. Petersburg and subsequently moved to Dubai, raised hundreds of millions of dollars from new investors through his crypto payment app, Fintopio. Novak and his wife disappeared after attending an investment conference in early October.

According to the investigation, the couple was abducted by the suspects after being lured to a rented villa. The perpetrators reportedly demanded Novak access to a large amount of crypto assets, but when he refused, the couple was killed.

A total of seven suspects were detained in the UAE and Russia. The suspects, identified as Russian citizens, are expected to be extradited to St. Petersburg soon.

Following Novak and his wife’s disappearance, smartphone signals were reportedly detected for several days, first in the Hatta region of the UAE and Oman, and then in Cape Town, South Africa, before being completely cut off on October 4. Anna’s father and stepmother reportedly traveled to Dubai to retrieve the couple’s young children.

The family declined to comment further to the press due to the ongoing investigation.

Roman Novak was sentenced to six years in prison for fraud in 2020, and later settled in Dubai, presenting himself as a successful crypto investor and founder of the Fintopio platform, which he claimed offered fast transfers.

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