Rokotov–Faibishenko case

The Rokotov–Faibishenko case was a criminal trial against financial speculators that took place in the Soviet Union in 1961. It also marked the start of a three-year campaign against large-scale economic crimes, accompanied by show trials.

Ever since the 6th World Festival of Youth and Students, held in Moscow in 1957, dealing in foreign currency had begun to take place on a fairly large scale despite being illegal. Soviets (generally of a young age) would buy foreign currency from tourists and other visitors, selling it for a profit.

In 1961, the authorities broke one such speculation ring, composed of nine people, which had acquired around 20 million rubles in a year. During the search, they found 344,000 rubles, 1,524 gold coins, about $19,000, almost £500, 3,345 new and 133,000 old French francs, 1,500 German marks, 8,500 Belgian francs, other currency, icons and other contraband. The KGB investigated the case because contact with foreigners was involved.

Those arrested were Ian Timofeyevich Rokotov, I. I. Lagun, the married couple Nadya Edlis and Sergei Popov (a pianist), the brothers Yash and Shalv Papismedov, their nephew Ilya (the three of whom bought gold from Edlis and sold it in Georgia), Vladislav "Vladik" Petrovich Faibishenko, and Mubashirya Rizvanova.

Rokotov and Faibishenko had a history of making profit, which was not only illegal in the USSR but also looked down upon as immoral, as it went against the country's Leninist ideology. Rokotov had traded in stamps, books and camera equipment in school and moved up to foreign clothing before entering the currency business. Faibishenko had bought and sold foreign stockings and chewing gum during the 1957 youth festival.

Rokotov (at least) was held in Lefortovo prison prior to the trial.

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