Billionaire's Legal Battle: Vadim Moshkovich's Detention Extended

On Tuesday, a Russian court prolonged the pre-trial detention of Vadim Moshkovich, the billionaire founder behind Rusagro, as reported by state-run news outlets. He is accused of embezzling 30 billion roubles, equivalent to $373.37 million, and will remain in detention until November 25.

Moshkovich's legal troubles began in March when he was arrested under these charges. The billionaire, who maintains his innocence, argues that he is not guilty of the embezzlement accusations leveled against him.

From 2006 to 2014, Moshkovich was a prominent figure in Russia's upper house of parliament, bringing further attention to his ongoing legal battle. The currency exchange rate stands at $1 equating to 80.3500 roubles.

(With inputs from agencies.)