MOSCOW, January 25 (RAPSI) – Moscow’s Koptevsky District Court on Monday extended the house arrest of the owner of Optima Development construction company Albert Khudoyan until May 28 as part of a 2-billion-ruble embezzlement case (about $30 million), the court’s press service told RAPSI.
One more defendant, CEO of Aviacity company Sergey Konoplev, will also remain under house arrest over the next four months.
In October 2020, the court returned the case to prosecutors because of violations committed during the pretrial probe but the Moscow City Court later invalidated the ruling and ordered the first instance to hear the matter.
Investigators believe Khudoyan is the crime mastermind while Konoplev is its perpetrator.
The defendants stand charged with embezzling several land plots from Aviacity. Investigators have estimated damage allegedly caused at 2 billion rubles. Khudoyan 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.