Russia Starts Criminal Case Against Mirax Group, Kommersant Says

Russia started a criminal case against Mirax Group managers for allegedly stealing 3.2 billion rubles ($103 million) during construction of a housing complex, Kommersant reported, citing the Russian police press service.

Mirax, which started building what was to be Europe’s tallest skyscraper before the global financial crisis in 2008, was dissolved in 2011 after defaulting on $442 million of debt.

Property developer Sergei Polonsky, the company’s billionaire founder, fought with another billionaire, Alexander Lebedev, during a television show last year. Lebedev faces a possible prison sentence for the incident.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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