Corruption

Former Russian Minister Arrested, Accused of Embezzling $62 Million

Former Russian minister Mikhail Abyzov was arrested Tuesday evening on suspicion of embezzling $62 million, Russia’s Investigative Committee said in a press release.

In May 2012, Abyzov was appointed as Minister for Open Government Affairs in former President Dmitry Medvedev's cabinet, a post he held for six years. He is suspected of creating and running a criminal enterprise which embezzled and funneled 4 billion rubles ($62 million) abroad.

The Investigative Committee says that Abyzov founded and ran a criminal organization from April 2011 to November 2014. Abyzov is suspected of working with five other individuals to embezzle money from the Novosibirsk-based Siberian Energy Company and Regional Electric Grid.

“Abyzov and the above-mentioned individuals have put at risk the sustainable economic development and energy security of several regions of the country,” the investigators said.