BitRiver Founder Igor Runets Moved to Pretrial Detention in $12M Fraud Case
TLDR
- Igor Runets was moved from house arrest to pretrial detention on July 29.
- Prosecutors allege the BitRiver founder caused about $12.5M in damages to En+.
- The case centers on prepaid crypto mining equipment that investigators say was not delivered.
- Runets faces large-scale fraud charges under Article 159 of Russia’s Criminal Code.
- BitRiver parent Fox Group entered bankruptcy monitoring over about $9.2M in debt.
BitRiver founder Igor Runets has been moved from house arrest to pretrial detention as Russian investigators pursue a large-scale fraud case tied to an undelivered crypto mining equipment deal.
Moscow Court Tightens Detention Measures
The Zamoskvoretsky District Court of Moscow approved the transfer of Runets to a pretrial detention facility on July 29. The ruling means the founder of Russia’s largest crypto mining company must remain in custody for at least two months while the investigation continues.
Runets had previously been under house arrest as authorities reviewed claims linked to a mining equipment supply contract. Prosecutors are pursuing charges under Part 4 of Article 159 of the Russian Criminal Code, which covers large-scale fraud allegedly committed by an organized group.
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