Russian Court Sends BitRiver Founder Igor Runets From House Arrest to Pre-Trial Detention

TL;DR

• Russian authorities transferred BitRiver founder Igor Runets from house arrest to pre-trial detention for at least two months while a fraud investigation continues in Moscow.
• Investigators allege an unfulfilled $8 million equipment contract caused more than 1 billion rubles, about $12.5 million, in damages to an En+ subsidiary.
• Runets also faces tax-evasion charges, while BitRiver’s controlling shareholder is in insolvency proceedings after regional mining restrictions disrupted parts of its operations.

A Moscow court has transferred BitRiver founder Igor Runets from house arrest to pre-trial detention as investigators pursue allegations of large-scale fraud tied to a crypto mining equipment contract. The Zamoskvoretsky District Court approved the stricter preventive measure on Wednesday, requiring him to remain in custody for at least two months while the inquiry continues. The case has moved from financial distress into a more severe phase of personal legal exposure amid a widening crisis. Runets faces accusations under Russia’s criminal code involving fraud on an especially large scale allegedly committed by an organized group.

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