Banker Alexnader Lebedev accused the General Electric’s subsidiary of fraud and demands $75 million from it, BFM.ru reports.

Subsidiary of General Electric provided loans for purchasing Airbus А320 aircraft intended for Blue Wings airline (Germany). Alexander Lebedev was the carrier’s major shareholder.

The airline’s license was revoked in 2009 and the jets were seized by the subsidiary of General Electric, Alexander Lebedev said. «The seized aircraft were in pledge, they must have sold them at market price, redeem the debt and return the spread to us. We assess it at about $500 million. And what have they done? They have overvalued the maintenance by at least $50 million preventing us from carrying out any technical inspections. They have also increased the rate of interest and did not deliver three new-built aircraft to us, which were in cross-pledge, and issued derivatives. They always use the same technique, for example, they used it in case with Aeroflot. No one pursued them in court. The airlines of Pakistan and India are too small and the lawsuit requires a lot of time and money. Aeroflot always settled the issued bills».

London court opened the corresponding hearings last week.