Russian Tycoon Antipov Reportedly Detained In Fraud Case

The facilities produce high-quality steel used to produce military equipment and ammunition.

Russian media reports said on February 26 that police detained oligarch Yury Antipov in an unspecified fraud case. The reports also said a court in the Sverdlovsk region ruled to nationalize Antipov's shares in a major metallurgical plant in the region, as well as his shares in two metallurgical plants in the regions of Chelyabinsk and Kemerovo. The court said the facilities were obtained through "illegal privatization" in the 1990s. The facilities produce high-quality steel used to produce military equipment and ammunition. To read the original story by RFE/RL's Russian Service, click here.