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  HOME | Business & Economy (Click here for more)

Some $8.3 Million Confiscated from Former Russian Economy Minister Accused of Corruption

MOSCOW – A Moscow court seized 500 million rubles (some $8.3 m) in cash and precious metal coins from a former Russia economy minister who was under house arrest for corruption allegations, a judiciary spokesperson said on Wednesday.

The confiscation was ordered on Dec. 14, and Alexei Ulyukayev’s defense team did not appeal the measure on Wednesday, district court spokesperson Yunona Tsareva told Russia’s Interfax news agency.

On Tuesday, the court extended the former minister’s house arrest to April 15.

Ulyukayev, 60, was detained Nov. 14 after, according to the country’s Investigative Committee, he had received a $2 million bribe from public oil company Rosneft in order to facilitate the sale of another company within the sector.

The minister was formally accused of extortion and receiving a large bribe, which is punishable by economic sanctions and a prison term of up to 15 years.

The court maintained his house arrest at the request of the investigation as a precaution.

The minister was dismissed from his position by President Vladimir Putin over loss of trust.

 

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