Lender Accused of Duping Billionaire Charged With Fraud

A man who once lent more than $100 million to Mexican billionaire Ricardo Salinas before the business magnate accused him of theft has been charged with fraud by US prosecutors.

Vladimir Sklarov was charged in an indictment unsealed Monday in New York federal court. While the document doesn’t mention Salinas, it cites an unnamed victim whose details appear to match the billionaire. Salinas has publicly accused Sklarov of stealing some $450 million of shares of his electronics retailer, Grupo Elektra SAB de CV, which he had posted as collateral for the loan.