Krasnoyarsk developer who fled to Italy to be extradited to Russia

Krasnoyarsk developer who fled to Italy to be extradited to Russia
Nikolay Kovalenko

The head of SK Restavratsia is accused of embezzling co-investors.

Nikolai Kovalenko, director of the Krasnoyarsk construction company Restavratsia, who was accused of embezzling about 2 billion rubles ($ 31 million) from 1,300 equity holders, was placed under house arrest in Italy and is being prepared for extradition to Russia, the press service of the MIA’s Main Directorate for the Krasnoyarsk Region reports. The entrepreneur was on the international wanted list for a swindling case (para. 4 of Article 159 CCRF) and violation of the law on participation in shared construction (Article 200.3 CCRF).

In March, Krasnoyarsk’s Zheleznodorozhny District Court arrested Kovalenko in absentia. The criminal case is about the construction of the Festival micro district and the Edelweiss residential complex, in which equity holders have invested. On September 26, 2018, representatives of Restavratsia reported that it was impossible to complete the construction of the house and the beginning of the company's bankruptcy.

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