A wanted Russian businessman who has been hiding in Romania was caught and arrested in Bucharest on Monday, May 23. A Romanian court will decide if he will be extradited to his home country where he stands fraud and abuse of office charges.

Police officers from the Criminal Investigation Directorate spotted the internationally wanted Russian businessman on a street in Bucharest and took him into custody, according to a statement from the Bucharest Police.

The man in question is Russian businessman Andrey Korolev, who has been hiding in Romania for several months, police sources told local Mediafax.

The Russian authorities have been looking for him for months. They have charged him with fraud with particularly serious consequences and abuse of office. As associate and manager of a company, Korolov allegedly caused EUR 36 million worth of damages to other companies in his country.

The Russian businessman was placed under preventive arrest by a decision of the Bucharest Court of Appeal. Romanian judges are to rule on his extradition.

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Irina Popescu, irina.popescu@romania-insider.com