Moscow City Court sends Naftogaz ex-chief Bakai's arrest case for re-consideration
MOSCOW. Nov 8 (Interfax) - The Moscow City Court has ordered the re-trial of a case against the former head of Ukraine's State Management of Affairs and ex-chief of the state energy company Naftogaz Ukrainy, Ihor Bakai, who has been accused of massive fraud, an Interfax correspondent reported.
"[It has been decided] to overturn the lower court's ruling and to send the case for reconsideration by a new panel of judges at the Tagansky Court," the judge read from the ruling.
The Moscow City Court also remanded Bakai in custody until November 18.
It was reported, on October 27 Moscow's Tagansky Court had approved Bakai's arrest until November 12. His defense team appealed the ruling, asking for a milder restraining measure.
Bakai has been charged with massive fraud and faces up to ten years of imprisonment if convicted.
Bakai and people who have yet to be identified are accused of having stolen $12 million, which they received under a loan agreement with Metalloinvest Limited, an informed source told Interfax.