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Detention of construction developer accused of $31 mln embezzlement extended again

10:51 04/10/2019

MOSCOW, October 4 (RAPSI) – Moscow’s Tverskoy District Court has extended detention of owner of Optima Development construction company Albert Khudoyan charged with 2-billion-ruble embezzlement (over $31 million) until October 14, the court’s press service has told RAPSI.

In late September, the Moscow City Court ordered an investigator’s motion to extend detention of Khudoyan to be reconsidered. The court overturned the August 2 decision made by Moscow’s Tverskoy District Court extending the businessman’s detention.

In July, the Moscow City Court rescinded house arrest of Khudoyan and placed him in detention upon a motion filed by prosecutors.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. 

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Detention of construction developer accused of $31 mln embezzlement extended again

10:51 04/10/2019 Moscow’s Tverskoy District Court has extended detention of owner of Optima Development construction company Albert Khudoyan charged with 2-billion-ruble embezzlement (over $31 million) until October 14.
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