15 Nov 2013 09:59

Suspect in $776 mln loan fraud detained in Moscow region

MOSCOW. Nov 15 (Interfax) - A man accused of illegally securing loans estimated at around $800 million has been detained in the Moscow region, a Russian Interior Ministry spokesman told Interfax.

"A 41-year-old man suspected of using fake documents to receive seven loans amounting to $776 million a few years ago was detained by police in the village of Zarechye in the Odintsovo district of the Moscow region late night," he said.

The suspect had been placed on the international most wanted list as part of a fraud inquiry opened by the Tyumen region police in March 2010. An arrest warrant was issued for him in absentia. The man drew the loans from one of the largest banks of the Tyumen region.