MOSCOW, April 28 (RAPSI) – Russian businessman Nikolai Doroshenko, who was detained in Cambodia on March 25 after failing to appear in court in the case over breach of trust initiated by his rival, infamous Russian developer Sergei Polonsky, has been released on bail, The Phnom Penh Post reports Tuesday.
However, the charges brought against Doroshenko over the islands that the two businessmen had planned to develop jointly before their relationship soured in early 2013, were not dropped, the newspaper writes.
According to the prosecution, Doroshenko embezzled substantial funds invested by Polonsky in several projects.
Polonsky’s lawyer Benson Samay said they fear that Doroshenko may flee to Thailand, where he has a house in the Chonburi Province, the newspaper writes.
Polonsky has reportedly filed a complaint with the Preah Sihanouk Provincial Court accusing the son of his former business partner, Ostap Doroshenko, of defamation for circulating a letter that claims Mr. Polonsky bribed officials $250,000 to imprison his father.
A conflict between Doroshenko and Polonsky over Koh Muoy, Koh Pi, Koh Damlong and Koh Pring islands of Sihanoukville flared up several years ago.
In March 2013, Doroshenko allegedly signed contracts to hand over the investment licenses for the islands to Polonsky within three and a half months from the date of signing but has not honored this contract.