Rusagro Founder and Former CEO Face Fraud Charges Amid Police Raids

Vadim Moshkovich, founder of the prominent Russian agriculture conglomerate Rusagro, along with former CEO Maxim Basov, faces charges of fraud and abuse of power. Russian authorities raided Rusagro offices, questioning Moshkovich. Despite the investigations, the company clarified these events are unrelated to its present operations.

Vadim Moshkovich, the billionaire founder of Rusagro, and former CEO Maxim Basov have been officially charged with fraud and abuse of authority, according to reports from state-run news outlet RIA. A lawyer representing the individuals disclosed these legal developments.

In a significant development, Russian police conducted a search of several Rusagro offices on Wednesday, as confirmed by company insiders and reported to Reuters. Moshkovich, deeply involved in the company's establishment and growth, was subjected to questioning by authorities.

Rusagro has publicly stated that the searches are not linked to the firm's ongoing activities. The agricultural giant emphasized that its current business operations remain unaffected by the ongoing legal proceedings and investigations.

(With inputs from agencies.)