Ukraine’s Naftogaz ex-chairman appeals house arrest in embezzlement caseStaff Writer | November 22, 2017
Ex-chairman of Ukraine’s largest oil and gas corporation Naftogaz Igor Bakay charged with embezzlement has filed an appeal against a ruling to put him under house arrest, the spokesperson of Moscow’s Tagansky District Court Yulia Sukhinina told RAPSI.
Ukraine Obligations for repayment of the loan
Reportedly, Bakay, who held the position of Naftogaz chairman from 1998 to 2000, embezzled money belonging to other persons including Russian billionaire Alisher Usmanov.
The Interior Ministry’s press service reported earlier that Bakay had signed a loan agreement worth over 630 million rubles (about $11 million) with a mining and smelting holding on behalf of his company.
Obligations for repayment of the loan have not been fulfilled. The businessman has administered the funds at his own discretion. ■