Billionaire Founder of Rusagro Charged with Embezzlement

Vadim Moshkovich, founder of Rusagro, has been charged with embezzling 30 billion roubles. Moshkovich, a former member of Russia's legislature, was arrested along with a senior Rusagro executive. If found guilty, he faces up to 10 years in prison, according to state news agency TASS.

Vadim Moshkovich, the billionaire founder of Russia's leading agricultural company Rusagro, has been officially charged with embezzling 30 billion roubles, reports from TASS confirmed.

Moshkovich, who also served in Russia's upper legislative chamber, was detained last week along with another top executive of Rusagro. Authorities have indicated that, if convicted of the charges, Moshkovich could face a maximum sentence of 10 years in prison.

The arrest and subsequent charges underscore the scrutiny facing Russia's elite business figures, as the government continues to crack down on alleged financial misconduct at the highest levels.

(With inputs from agencies.)