Official: Russian police suspect New Stream founder of fraud

MOSCOW, Jul 15 (PRIME) -- The Russian police have suspected Dmitry Mazurov, founder of oil and gas company New Stream, of a large fraud, spokeswoman for the Tverskoy District Court of Moscow Svetlana Skachkova told PRIME on Monday.

“He is suspected of a crime under part 4 of article 159 of the Criminal Code of the Russian Federation (large-scale fraud),” Skachkova said.

Mazurov was arrested on July 13 on arrival to Moscow, he could face 10 years in prison.

Forbes reported in June that Mazurov used to take loans for trade companies affiliated with him under guarantees of the Antipinsky refinery, formerly a unit of Nord Stream Group, now lost to Sberbank, and that the plant is liable to pay U.S. $1.0–1.5 billion.

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