facebook
twitter
search
search

Paris Club embezzlement case widens

Dec. 17, 2007 at 11:21 AM

MOSCOW, Dec. 17 (UPI) -- Moscow officials issued an arrest warrant for a fourth suspect in a $43 million embezzlement case from an international debt restructuring fund.

The case centers on allegations against Russian Deputy Finance Minister Sergei Storchak, who is accused of embezzling $43 million from the Paris Club, an informal consortium of international financial officials from the world's leading economic nations examining debt relief and restructuring for indebted countries.

The committee overseeing the case said the new arrest concerned debts relating to the chemical company Sodexim, RIA Novosit said Monday.

Officials detained Storchak Nov. 15 over concerns he would tamper with evidence in the case or intimidate potential witnesses.

The investigating committee also arrested the general director of Sodexim, Victor Zakharov, and Vadim Volkov, president of the Moscow-based Interregional Investment Bank in connection with the embezzlement charges.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Kim Jong Un had terrapin farm manager executed, says source
B-52 bombers demo long reach of U.S. air power
Army orders tactical trucks from Oshkosh
More than 80 percent of North Korean defectors are women, says report
North Korea requests medical aid from U.N. agencies