Russian authorities charged BitRiver founder Igor Runets with alleged fraud tied to a $8 million crypto mining equipment deal involving Russian billionaire Oleg Deripaska. Russian authorities have charged BitRiver founder Igor Runets with alleged fraud involving about 1 billion rubles ($12.5 million), expanding the criminal case against the executive of one of Russia’s largest crypto mining-linked companies. Runets was officially charged with large-scale fraud over an alleged failure to deliver crypto mining equipment under an $8 million contract, local news agency Pravo reported on Wednesday. Investigators allege that Fox, a company controlled by Runets, signed the contract in 2023 to supply the equipment to a company within an industrial group founded by businessman Oleg Deripaska. Authorities say that while the buyer paid $7.9 million upfront, the equipment was not delivered within the agreed 32-day period. Read more
A Moscow court has reportedly ordered BitRiver CEO Igor Runets to remain under house arrest as investigators pursue tax evasion charges. The founder and CEO of Russian Bitcoin mining firm BitRiver, Igor Runets, has reportedly been detained and charged with multiple counts of tax evasion. According to reports from local media outlets such as RBK and Kommersant on Sunday, Runets was detained on Friday and is facing three charges for allegedly concealing assets to evade taxes. The outlets cite court documents from the Zamoskvoretsky Court of Moscow indicating that Runets was charged on Saturday and ordered to be placed under house arrest the same day. Read more