Russian prosecutors have formally requested a court to authorize the seizure of assets belonging to Vadim Moshkovich, the billionaire founder of Rusagro, one of Russia's leading agricultural producers. Moshkovich faces accusations of embezzlement, as reported by the state-owned RIA news agency on Friday.
Background of the Case
Moshkovich, who served as a member of Russia's upper house of parliament from 2006 to 2014, was arrested in March. He has been charged with embezzling 30 billion roubles, equivalent to approximately $400.29 million. The billionaire has pleaded not guilty to the charges.
Court Hearing Scheduled
A court hearing to deliberate on the seizure request is scheduled for May 4, according to RIA. The request also involves five other defendants, including former Rusagro CEO Maxim Basov. Prosecutors are seeking to confiscate a wide range of assets, including movable and immovable property, land plots, cash, and company assets, with a total value exceeding several billion roubles.
The case has drawn significant attention due to Moshkovich's prominence in the agricultural sector and his previous political role. The outcome of the hearing could have substantial implications for the involved parties and the broader business community in Russia.
