MOSCOW, July 26 - RAPSI. Austria extradited to Russia a businessman charged with committing $3.6 million fraud on Thursday, the Interior Ministry's press center reports.

According to the ministry, Vasily Grishaev, a joint stock company CEO and a co-investor in the Olymp housing project in Korolyov, obtained acceptance reports without executing the required activities and misappropriated over 119 million rubles ($3.6 million) in 2006.

"A criminal case was opened over embezzlement and Grishaev escaped," the ministry said. "He was placed on the Interpol wanted list upon the request of the regional interior department in April 2010 and was arrested by the Austrian authorities in December 2011."

Grishaev is prosecuted for fraud and may be punished by up to 10 years in prison.