MOSCOW, February 21 (RAPSI) – Spanish authorities have handed over Russian businessman Mikhail Lyagin, charged with fraud and money laundering in Russia, to officers of the Federal Security Service (FSB), the press-release of Russia’s Prosecutor General’s Office reads on Tuesday.

On October 28 of 2016, Spain granted an extradition request filed by Russia.

Investigators believe that from June 10 of 2011 till December 27 of 2013 Lyagin was acting as the CEO of Invest-Victoria company. Allegedly, he failed to meet his contractual obligations and embezzled 550 million rubles ($9.7 million) from state company Kavkazky VSO operating under Russia’s FSB. According to investigators, he also allegedly was signing unlawful financial deals from November 11 of 2011 till August 8 of 2013.