Construction developer detained till mid-August on embezzlement charges
MOSCOW, July 8 (RAPSI) – The Moscow City Court on Monday rescinded house arrest of the owner of Optima Development construction company Albert Khudoyan charged with 2-billion-ruble embezzlement (over $31 million) and placed him in detention until August 14, the court’s spokesperson Ulyana Solopova told RAPSI.
The court therefore granted an appeal filed by prosecutors.
Khudoyan 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.