Wanted businessman from Russia detained in Cyprus
He owed more than 7 billion rubles ($107 million) to banks.
In Cyprus, Primorsky region businessman Igor Polchenko, who was on the international wanted list for alleged fraud in obtaining loans from a number of major Russian banks, including Sberbank, VTB, and others, has been detained. The total debt to credit institutions exceeds 7 billion rubles, Kommersant reports.
According to the publication’s sources, the detention took place on August 7. According to international standards, now the Cyprus prosecutor’s office must appeal to the court for an extradition arrest of Polchenko and ask Russia for extradition materials. A source in the Russian power structures claims that it will take four to six months to resolve the issue of extradition of the businessman.
Polchenko was the president of the Transit-DV group of companies and, according to Kommersant, the beneficiary or co-owner of a number of enterprises associated with this group in Primorye. The main asset was the independent Vostokbunker terminal, whose revenue for 2018 amounted to 1.5 billion rubles ($22.9 million), and net profit 91 million rubles ($1.39 million).
At the same time, Transit-DV group owed more than 7 billion rubles to banks, most of all to Sberbank and VTB.
The businessman’s lawyer, Elena Rozova, said that she had no information on the detention. She noted that Polchenko always denied guilt and claimed that he was framed by partners, including large banks.