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Wednesday, October 3, 2007

Main Suspect On Elita Center Fraud Is Detained In St.Petersburg

The Ministry of Internal Affairs has confirmed that the detained in St. Petersburg person is really Alexander Volkonskiy, the founder of the well-known "Elita-Center", who was wanted as suspected concerning the biggest fraud in the Kiev real estate market.

"The information is checked. I can say that we have received confirmation that he is" said Mikhail Korniyenko, temporarily Minister of Internal Affairs, commenting the detention in St. Petersburg.

According to investigation information, the total amount of stolen funds is almost USD 100 mln.