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Russian billionare in trouble

September 19, 2014

One of Russia's richest men remains under house arrest on money laundering charges, says the nation's Investigative Committee.

https://p.dw.com/p/1DFux
Vladimir Petrowitsch Yevtushenkov
Image: picture-alliance/dpa/S. Krasilnikov

The company of a Russian billionaire placed under house arrest on money laundering charges claimed he was freed on Friday, but in an odd twist, the nation's top criminal investigators immediately dismissed the statement.

Russia’s Investigative Committee said Vladimir Yevtushenkov, 65, was still locked away in his home - despite a statement by his holding company Sistema that stated otherwise.

Yevtushenkov was charged late Tuesday with money laundering surrounding a deal to acquire a regional oil company five years ago.

Resulting shock waves

His arrest sent shock waves through Russia’s business community, drawing comparisons to the arrest of tycoon Mikhail Khodorkovsky in 2003.

Some of Russia’s top businessmen also cautioned that the arrest was unfounded and would further hurt Russia’s investment climate. The nation’s economy has been suffering due to Western sanctions imposed over Ukraine.

rs/cjc (AP, Reuters)