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Developer accused of $31 mln embezzlement freed from detention, put under house arrest

19:02 11/11/2019

MOSCOW, November 11 (RAPSI) – Moscow’s Tverskoy District Court on Monday held to release the owner of Optima Development construction company Albert Khudoyan charged with a 2-billion-ruble embezzlement (over $31 million) from detention, RAPSI reported from the courtroom.

The defendant was ordered to be placed under house arrest until January 11. The accused is prohibited from using a telephone and Internet.

The defendant was previously held under house arrest, but in July, the Moscow City Court rescinded house arrest of Khudoyan and placed him in detention upon a motion filed by prosecutors. The court held that the accused can flee abroad despite the fact he gave his foreign passport to investigators.

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. 


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Developer accused of $31 mln embezzlement freed from detention, put under house arrest

19:02 11/11/2019 Moscow’s Tverskoy District Court on Monday held to release the owner of Optima Development construction company Albert Khudoyan charged with a 2-billion-ruble embezzlement (over $31 million) from detention.
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