Рейтинг@Mail.ru
RusEng

News

Seizure of Red October plant owner’s assets upheld

13:29 29/06/2017

MOSCOW, June 29 (RAPSI, Lyudmila Klenko) – The Moscow City Court has upheld a lower court’s decision to seize assets belonging to Volgograd metallurgic plant Red October, Dmitry Gerasimenko, who is charged with embezzling VTB Bank’s $65 million credit, the court’s press office told RAPSI on Thursday.

Gerasimenko, who lives in Europe, was arrested by Cyprus police in November 2016 shortly after he arrived on island, but was released on bail afterwards, Kommersant newspaper reported last year. Earlier he was charged with embezzlement and put on the international wanted list by Russia’s Interior Ministry. During investigation of his case charges were changed to fraud.

Gerasimenko told Kommersant that he arrived on Cyprus on his own volition to be present during court hearings in a country where he may defend himself in accordance with English law.

Various media previously reported that Gerasimenko owns Red October, one of the largest special grade rolled metal producers for automotive and aviation industries in Russia.

Share thisE-mail this articlesubmit newsAdd to blogrss feed
Add to blog
To link to this material, copy the code to your blog.
Publishing code:
Preview:

Seizure of Red October plant owner’s assets upheld

13:29 29/06/2017 The Moscow City Court has upheld a lower court’s decision to seize assets belonging to Volgograd metallurgic plant Red October, Dmitry Gerasimenko, who is charged with embezzling VTB Bank’s $65 million credit.
Forward news story

All fields are mandatory!

Submit news

All fields are mandatory!

Share this

Top news