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Ex-Minister Mikhail Abyzov Jailed 14 Years Over U.S. Solar Investments
Former Russian minister Mikhail Abyzov has received a combined 14-year prison sentence after a Moscow court found him guilty of fraud linked to investments in a US solar energy company. The case adds to the sentence he was already serving and centres on allegations that investors were misled into continuing to fund the failed venture.
Prosecutors said Abyzov and two associates defrauded the state-owned Russian Venture Company of $5 million through investments in Alion Energy. Abyzov denied the charges, saying he lost money himself and continued investing. The court also fined him 80.1 million roubles, barred him from public office for three years and stripped him of state awards; the latest sentence can be appealed.
In short
- Abyzov’s combined prison sentence is 14 years.
- The fraud case involved $5 million in Alion Energy investments.
- He was also fined and barred from public office.