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Extradition of a Russian national, accused of misappropriation of more than 307 million roubles, belonged to participants of a cooperative housing project, from Cyprus to Russia

Extradition of a Russian national, accused of misappropriation of more than 307 million roubles, belonged to participants of a cooperative housing project, from Cyprus to Russia

13 october 2017, 14:15

Today, on October 13, 2017, by request of the Prosecutor General’s Office of the Russian Federation, competent authorities of the Republic of Cyprus have extradited Mr. Valery DENISOV, Russian national, to Russia.

He is accused of the crimes stipulated in Art. 159 part 4 of the Criminal Code of the Russian Federation (fraud, committed by a group of persons by preliminary agreement, in especially large amount), Art. 174.1 part 4 “b” (financial operations and other transactions with money obtained by a person as a result of crime, with the purpose to legalize its possession, use and disposition, committed in especially large amount).

According to the investigation, from October 30, 2009, till February 21, 2015, Mr. DENISOV, being president of a house-building cooperative “Duslyk-Stroy”, entered into agreement with the former president of the executive board of the above cooperative and the director of “EnergoTechService”, Ltd, and misappropriated more than 307 million roubles, belonged to those who had invested money it the building of an apartment house on Parkhomenko Street, Ufa. Later, Mr. DENISOV legalized the above funds in the amount of more than 6 million roubles by means of financial operations and transferred them to the accounts in “PromTransBank”, opened by him.

Since Mr. DENISOV absconded from the law-enforcement bodies he was placed in a federal and later in an international wanted list.

According to the NCB Interpol of the Republic of Cyprus, Mr. DENISOV was arrested on its territory.

The Prosecutor General’s Office of the Russian Federation submitted a request for extradition to the Ministry of Justice and Public Order of the Republic of Cyprus; the extradition was granted.

Today, on October 13, 2017, in the Larnaca International Airport, Mr. DENISOV has been handed over to Russian law-enforcement officers.