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Naftohaz ex-head Bakay detained in Moscow

He is accused of financial fraud.

Naftohaz ex-head Bakay detained in Moscow
Ihor Bakay

Ihor Bakay, a former head of the Ukrainian national oil and gas company Naftohaz Ukrayiny and the State Affairs Directorate, has been detained on Moscow on suspicion of fraud.

Source told the TSN news studio of One Plus One TV that at least 10 people reported Bakay for fraud, including Russian billionaire Alisher Usmanov who reportedly borrowed him 9m dollars.

Bakay allegedly lived in the UAE and Moscow and constantly borrowed money from his acquaintances.

Later in the day, RIA Novosti reported that Moscow's Taganskiy court arrested Bakay for gross fraud until 12 November.

Interfax quoted its sources as saying that Bakay had misappropriated 12m dollars from Metalloinvest Limited, whose main stockholder is Alisher Usmanov.

According to the Russian news agency RBC, the arbitration court of Moscow Region recognized Bakay a bankrupt on 27 September. His liabilities are estimated at 27.5m dollars.

Bakay headed Naftohaz Ukrayiny from 1998 to 2000, the State Affairs Directorate from October 2003 to December 2004. Bakay left Ukraine in 2004. As soon as in March 2005, he received Russian citizenship.

In Ukraine, he was suspected of gross embezzlement of state property, which he denied.

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