Appeal against construction developer’s detention to be heard on September 25
MOSCOW, September 23 (RAPSI) – The Moscow City Court on Monday held that an appeal against extension of detention of owner of Optima Development construction company Albert Khudoyan charged with 2-billion-ruble embezzlement (over $31 million) be considered on September 25, RAPSI reported from the courtroom.
Khudoyan, whose detention was recently extended until October 14, and his defense petition for release on a 10-million-ruble bail (over $155,000).
In July, the Moscow City Court rescinded house arrest of Khudoyan and placed him in detention upon a motion filed by prosecutors. The court held that the accused can flee abroad despite the fact he gave his foreign passport to investigators
Business ombudsman Boris Titov said that the court’s arguments that Khudoyan could abscond from investigators had little force.
Khudoyan stands charged with embezzling several land plots from one company. Investigators have estimated damage allegedly caused by the defendant at 2 billion rubles. The businessman pleads not guilty and says the case against him is hostile takeover of his development company.
Optima Development has been engaged in the construction of commercial and residential projects since 2007, the company’s website reads.