Police on Thursday issued a new appeal for information on the whereabouts of wanted Russian billionaire Dmitry Gerasimenko after his disappearance following his release from custody earlier this week.
“Dmitry Gerasimenko, a 38-year-old Russian passport holder continues to be wanted in order to facilitate inquiries into the offences of theft by deception, abuse by a company director of the legitimate interests of business and abuse of trust being investigated. These were committed in a foreign country in a period that lasted until November 2015,” the force said.
Larnaca district court had on Tuesday ordered the termination of extradition proceedings against him after it emerged that Russian authorities had cancelled a warrant for his arrest.
The Russian had been arrested at Larnaca airport on arriving from Milan on December 15.
He was wanted by Russian authorities in connection with the embezzlement, between 2007 and 2009, of $65 million, initially meant for his steel company Krasny Oktyabr (Red October in Russian) from VTB Bank.
During an earlier extradition hearing, the state prosecution informed the court that the authorities in Russia had withdrawn the arrest warrant for this case.
Gerasimenko had been accused of securing the $65 million loan without adequate collateral and under false pretences, something he denied, claiming he did not join the company until 2011.
The Russian authorities in the meantime had established that the loan was in secured by the company’s previous owners, prompting them to withdraw the warrant but subsequently issue a new one for his arrest, this time on charges he embezzled company assets.
The new charges were not included in Interpol’s November 29 notice, when the agency issued an international arrest warrant for him, leading to the attorney-general’s office requesting the extradition proceedings in Cyprus be dropped.
Gerasimenko was taken off the stop-list and his passport was returned, along with €150,000 which he posted for bail.
Sergey Zatsepin, an alleged associate of the steel magnate, is currently in detention in Moscow on charges of aiding and abetting fraud.
As well as the large Volgograd steel plant, the billionaire owns two basketball teams, Russia’s first division BC Krasny Oktyabr based in Volgograd, and Pallacanestro Cantu, a well-known Italian team.
The 38-year-old is also well-known in his home country for his career as a basketball player.
