Developer to stay under house arrest in $30 mln embezzlement case till mid-August
MOSCOW, June 10 (RAPSI) - The Moscow City Court on Wednesday extended house arrest of the owner of Optima Development construction company Albert Khudoyan charged with a 2-billion-ruble embezzlement (about $30 million at the current exchange rate) until August 14, the court’s press service told RAPSI.
The businessman 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.