Thursday, August 17, 2017

Russian police detain former oil executive charged with stealing $800 million

In Moscow, police detained a former oil company executive who is suspected of using falsely obtained loans to steal around $800 million from a state bank.

Fyodor Khoroshilov is a former executive at Sibneft, which was acquired by Gazprom, a Russian state energy giant, according to RIA Novosti.

Khoroshilov was apprehended at an elite gated community several years after being put on an international wanted list. It is alleged that Khoroshilov knowingly provided falsified documents to obtain loans totaling $776 million between 2005 to 2008 from state-controlled bank VTB.

Khoroshilov will be sent to Yekaterinburg as part of the ongoing investigation, according to a police spokesman, RIA Novosti reports.