Rusagro Under Scrutiny: Billionaire Founder Questioned in Embezzlement Probe

Russian authorities are investigating Rusagro, a prominent farming conglomerate, with searches conducted at its offices. Billionaire founder Vadim Moshkovich is being questioned in connection to a criminal embezzlement probe. Moshkovich reduced his stake after sanctions, resigning as chairman in 2022. The company remains listed on the Moscow Stock Exchange.

In a dramatic development, Russian police have raided the offices of leading agricultural giant Rusagro, sparking intrigue and concern within the business community. The searches are part of a criminal investigation into embezzlement, according to numerous reports from Russian news agencies on Wednesday.

The spotlight is firmly on Vadim Moshkovich, the billionaire founder of Rusagro, who is being questioned by the authorities. Interfax cited sources indicating the searches are linked to this investigation, although specific details remain undisclosed.

Since Western sanctions were imposed, Moshkovich has withdrawn from his role as chairman of Rusagro, cutting his stake in the company. Despite these changes, the company continues to be a significant player, being publicly traded on the Moscow Stock Exchange.

(With inputs from agencies.)