MOSCOW, February 17 (RAPSI) – The Moscow City Court has upheld a lower court’s decision to extend the detention of real estate tycoon Sergei Polonsky, who stands charged with large scale fraud, until March 12, the court's press service told RAPSI on Wednesday.
The businessnan asked the court to mitigate the judicial restraint.
Polonsky, head of Potok Group (earlier Mirax) has been charged with fraud in absentia in the case of embezzlement of 5.7 billion rubles ($75 mln) from the Kutuzovskaya Mile residential community interest holders in the summer of 2013.
In May 2015, Cambodia, where Polonsky was escaping the Russian law enforcement, extradited him to Russia. In June, experts found the businessman sane.
If convicted, Polonsky could face up to ten years in prison. Polonsky has pleaded not guilty.