MOSCOW, November 21 (RAPSI) – The Presnensky District Court of Moscow on Wednesday released ex-owner of Russia’s fieldstone manufacturer Pavlovskgranit, Sergey Poymanov, who stands charged with abuse of office, from detention, and put him under house arrest until February 7, the court’s press service told RAPSI.

The court dismissed a motion lodged by investigators demanding to extend Poymanov’s detention.

Reportedly, Poymanov stripped share of Pavlovskgranit-Invest managing company in the capital of PNH Limited in 2011. As a result, the managing company’s equity stake initially decreased from 100 to 40 percent, and then to 1 percent. His actions allegedly resulted in a 930-million-ruble damage (about $16 million at the current exchange rate) to a managing company.

Later, the businessman allegedly ordered the head of Pavlovskgranit-Invest to sign a contract with Rosgranit company on the sale of 150 railway vehicles worth 257.3 million rubles (about $4.5 million). However, the sum was not paid in full and Pavlovskgranit-Invest therefore lost 170 million rubles ($3 million). General damage caused to the company was estimated at 930 million rubles, according to Kommersant newspaper.

Moreover, Poymanov is involved in a criminal case over resale of a batch plant in the city of Voronezh that led to a damage amounting to 10 million rubles ($170,000).

As previously reported, in November 2016, the U.S. company PPF Manegment LLC filed a lawsuit with the United States District Court for the Southern District of New York on behalf of Poymanov and his ex-wife Irina Podgornaya seeking to collect $750 million from Russia’s Sberbank, Sberbank CEO German Gref, Promsvyazbank and several other individuals and companies. The plaintiffs demanded $500 million in compensation for the loss of control over Pavlovskgranit and $250 million in compensation for moral damages.

The Moscow Commercial Court declared Poymanov bankrupt on July 21, 2016. Pavlovskgranit-Invest managing company was declared bankrupt 4 years earlier.