Russian billionaire Vadim Moshkovich, founder of Rusagro, faces charges of embezzling 30 billion roubles ($357 million). His arrest is among the most high-profile in Russia’s business world in recent years.
Prosecutors on Wednesday charged Vadim Moshkovich, the billionaire founder of Russia’s leading agricultural company, Rusagro, with embezzling 30 billion roubles ($357 million), according to state news agency TASS.
Moshkovich, a former member of Russia’s upper legislative chamber who, according to Forbes, has a fortune of $2.7 billion, was arrested last week alongside another senior Rusagro executive.
A Moscow court ordered his pre-trial detention for two months last Thursday. If found guilty, he could face up to 10 years in prison.
TASS reported that the charges stem from a transaction to acquire an 85% stake in the Solnechnie Produkty oil and fats company from its founder, in exchange for an investment that was never made.
Moshkovich has denied any wrongdoing.
His prosecution, after rising from selling computers in post-Soviet Russia to establishing one of the country’s most influential agricultural conglomerates, has sent shockwaves through Russia’s business elite.
It marks the most high-profile arrest of a Russian businessman since Ziyavudin Magomedov, founder of the Summa shipping and logistics group, was detained in 2018, and Vladimir Yevtushenkov, a shareholder in AFK Sistema, was placed under house arrest in 2014.
A Miami-based tycoon wanted in Albania for allegedly laundering drug money is suspected of faking the deeds to land where Donald Trump’s son-in-law ...
Turkish prosecutors have ordered the detention of 36 people, including the mayor of an Ankara district controlled by the main opposition, over alleged...
President Donald Trump said the U.S. and Iran had agreed to continue talks despite an escalation of hostilities this week but he declared that the cea...
It has been a punishing week for large parts of China, and forecasters warn the worst may not be over. After Typhoon Maysak left a trail of destruction and at least 23 people dead, Super Typhoon Bavi is now threatening the country's eastern coast.
At least 12 people have been killed in forest fires in Almeria in southern Spain, Andalucía’s emergency agency has said, as firefighters continue efforts to put out the blaze.
U.S. President Donald Trump said Washington has agreed to resume talks with Iran after Tehran requested further negotiations, but declared that last month's ceasefire between the two countries was "over".
The U.S. military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain in the latest escalation to derail efforts to end the war.
Dozens of flights have been cancelled across East Asia as Super Typhoon Bavi approaches China. The typhoon, which has maximum sustained winds of 162 kph (100mph), is nearing a remote chain of Japanese islands, east of Taiwan on Friday.
A Miami-based tycoon wanted in Albania for allegedly laundering drug money is suspected of faking the deeds to land where Donald Trump’s son-in-law Jared Kushner wants to build a controversial multi-billion dollar resort, the country’s organised crime agency said in case files reviewed by Reuters.
A 26-year-old man arrested on suspicion of murdering British politician Ann Widdecombe has been released and is no longer part of the investigation, UK police have said.
Russia launched a barrage of ballistic missiles at Ukraine’s capital early on Saturday, injuring at least 10 people, officials said. The attack came as Kyiv faces a shortage of air defence munitions while awaiting fresh supplies to counter Russian strikes.
The remains of 10 victims of the 1995 Srebrenica genocide were carried to the Potočari Memorial Cemetery in eastern Bosnia and Herzegovina on Friday ahead of their burial during the 31st anniversary commemoration.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 11 July, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment