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.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port o...
U.S. President Donald Trump said on Saturday he would “love” to see British-run Northern Ireland unify...
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Mexico and the U.S. are racing to secure a trade deal before the U.S. midterm elections in less than eight weeks, according to six sources familiar with the talks, with failed negotiations between Washington and Canada adding urgency.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
A Russian strike on a gas station in Kyiv has killed two people, the city's Mayor Vitali Klitschko said in a statement on Telegram. In Russia, online marketplace Ozon has suspended operations in Saratov, southwestern Russia, following a drone strike on a warehouse in the region.
Twenty-five years after the September 11 attacks drew the U.S. into Afghanistan, the Taliban is seeking a new relationship with Washington built on diplomacy, investment and trade, despite deep divisions between the former enemies.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port of Chornomorsk, the Interfax news agency reported on Saturday.
U.S. President Donald Trump said on Saturday he would “love” to see British-run Northern Ireland unify with Ireland, remarks made during a visit to Dublin that drew a sharp response from pro-British unionists in Northern Ireland.
BRICS leaders have called for maximum restraint over the war in the Middle East, warning against actions that could further worsen tensions as the United States and Iran resume strikes against each other.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment