BitRiver founder detained in $7.9M fraud case

A Moscow court has moved BitRiver founder Igor Runets from house arrest to pretrial detention as investigators examine an alleged fraud involving nearly ₽1 billion. Summary Two months of pretrial detention replace Igor Runets’s house arrest in Moscow’s expanding fraud investigation. Nearly ₽1 billion in alleged losses involve prepaid mining equipment that investigators say never arrived. BitRiver’s parent faces bankruptcy proceedings tied directly to the disputed En+ mining equipment contract case. The Zamoskvoretsky District Court approved the change on July 22 and ordered Runets to remain in custody for two months. The new charge became public on July 29 through reports based on court records and sources familiar with the investigation. Runets faces an accusation under Part 4 of Article 159 of Russia’s Criminal Code, which covers fraud on an especially large scale. The charge remains an allegation, and no court has found him guilty. Founder of Russia’s Largest Crypto Miner Held Over Alleged 1 Billion-Ruble FraudA Moscow court has moved BitRiver founder Igor Runets from house arrest to pretrial detention for two months over alleged large-scale fraud involving nearly RUB 1 billion....