MOSCOW, August 21 (RAPSI) – Moscow’s Basmanny District Court on Wednesday extended house arrest of Anatoly Kairo, the development department director of the major car dealer Rolf, until November 25, the court’s spokesperson Yunona Tsareva told RAPSI.
Kairo is charged with transferring 4 billion rubles (about $63 million) to a Cyprus-registered company using fake documents. He pleads not guilty.
There are three more defendants in the case including Sergey Petrov, the car dealer founder and ex-parliament member.
Investigators claim that Petrov, who was deemed to be the owner of Rolf and Rolf Estate, as well as Cyprus-registered Panabel Ltd., conspired with the top managers of these companies to siphon the money received from the business activities of the car dealer. In order to conceal the scheme, the defendants arranged a false agreement aimed at selling a stock of shares of Rolf Estate by Panabel Ltd. at inflated price of 4 billion rubles, according to investigators.
The money was transferred to the Panabel Ltd. bank account in Austria and later through vehicles controlled by Petrov dissipated.
Petrov said earlier that the raid on his car sales offices in Moscow and St. Petersburg was aimed at seizing control of the business.