MOSCOW, November 16 (RAPSI) – The Moscow City Court’s Presidium on Friday overturned a ruling on detention of the former Rosgosstrakh group vice-president Sergey Khachaturov charged with embezzlement and held that the matter should be reconsidered, the court’s press service has told RAPSI. 

The Lefortovsky District Court of Moscow ordered detention of Khachaturov in April. Since then the businessman has been held in jail.

As reported earlier, Khachaturov has been charged with appropriation of Rosgosstrakh’s shares. Until 2017, the group of companies was controlled by the brother of the defendant Danil Khachaturov and was later transferred to Otkritie financial company. According to media reports, losses of the company that year reached over 55 billion rubles (over $830 million at the current exchange rate).

Another defendant in the case is head of Legion Finance company, ex-shareholder of Rosgosstrakh bank Nadezhda Klepalskaya. Currently, she is being held under house arrest.

The defendant’s attorney Alexey Melnikov has told RAPSI that in fact, during a lawful stock trade, Khachaturov had sold shares of Rosgosstrakh to Trust bank. The lawyer has noted that the deal, found to be illegal by investigators, has been supervised by the Central Bank of Russia.

In May, Khachaturov’s defense asked Russia’s ombudsman for business rights Boris Titov to provide assistance against unlawful detention and prosecution of their client.