BitRiver CEO Igor Runets faces fraud charges in Russia

The founder and chief executive of the Russian Bitcoin mining giant BitRiver, Igor Runets, has been charged with large-scale fraud and remanded in custody.

The crypto entrepreneur, who was detained earlier this year on tax evasion charges and initially placed under house arrest, has been moved to a detention facility.

BitRiver CEO Runets is facing fraud charges in jail

The Russian judiciary is tightening the detention regime for Igor Runets after bringing new charges against him, local media reported.

The prominent crypto figure has been transferred from his home, where he had been held for almost six months, to a pretrial detention facility.

The measure has been approved by the Zamoskvoretsky District Court of Moscow on July 22, the business news outlet RBC revealed Wednesday.

Runets, who was first apprehended for evading taxation, has now been charged with large-scale fraud related to the failed supply of crypto mining hardware.

The equipment was ordered by companies from the En+ Holding, the major Russian energy and metals producer which relies heavily on hydroelectric power generation.

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