MOSCOW, July 16 (RAPSI) – Moscow’s Tverskoy District Court has refused to release board chairman of New Stream oil and gas company and former co-owner of troubled Antipinsky refinery Dmitry Mazurov suspected of embezzlement on a 3-million-ruble bail (about $50,000), according to the court’s press service.

The court took the side of investigators and put him in detention until September 12, a court representative told RAPSI.

The businessman was arrested on July 13 on suspicion of embezzling 1.8 billion rubles (nearly $30 million) from Russia’s Sberbank through default on a loan given to one of his companies. 

A felony complaint was filed by Sberbank and Antipinsky refinery, in which construction Mazurov was involved in 2004 – 2019.

Mazurov pleads not guilty.

Antipinsky is a private, not a state-run refinery which capacity exceeds 9 million tonnes per year. The refinery occupies its rightful place among the largest players of the Russian oil refining industry, forming the Urals and West-Siberian oil refinery market, and is known abroad, the company’s official website says.

In May, the refinery filed for bankruptcy.