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Cambodia to extradite Russian businessman Polonsky as soon as possible

November 12, 2013, 13:34 UTC+3 BANGKOK

Cambodia confirmed Polonsky's arrest but has not officially notified Moscow yet

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Sergei Polonsky

Sergei Polonsky

© AP Photo

BANGKOK, November 12 (Itar-Tass) - Cambodian authorities have no intention to delay the extradition of Russian businessman Sergei Polonsky, accused of theft of 5.7 billion rubles (over $170 million) from investigators in a Moscow housing construction project, police said.

"Polonsky will be extradited to Russia as soon as possible," the Cambodia Daily quoted police spokesman Lt-Gen Kirt Chantharith as saying.

Cambodia confirmed Polonsky's arrest but has not officially notified Moscow yet.

The newspaper said the fugitive Russian businessman is staying on his island in the province of Sihanouk. He reacted to the report about possible extradition calmly, it said.

His lawyer Alexander Karabanov said Polonsky was ready to return to Russia and sign a plea bargain deal.

On June 14, Russian investigators charged the businessman in absentia with fraud in the Kutuzovskaya Milya housing construction project, where more than 80 citizens were recognized as injured parties. The investigators said the Polonsky-controlled company had received about 5.7 billion rubles from investors but then suspended construction failing to meet the contract terms. The company administration then deliberately initiated bankruptcy and liquidation proceedings. 

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