Moscow's Tverskoy Court has seized the assets of businessman Sergei Polonsky in the context of lawsuits filed by investors of the Kutuzovskaya Milya housing complex, the Russian Interior Ministry press office told Interfax on Monday.

"In the framework of the lawsuits filed on behalf of the affected parties in the criminal case on embezzling funds of citizens, participants of the co-funded construction of the Kutuzovskaya Milya housing complex, Moscow's Tverskoy Court has upheld the request of the Russian Interior Ministry's investigative department to seize the shares of foreign companies belonging to Sergei Polonsky," the press office said.

Prior to this "when attempting to sell these assets on the Russian stock market, Polonsky assessed their value at $100 million," the press office said.

The investigation of the criminal case accusing Polonsky of committing the crime under the Russian Criminal Code Article 159 Part 4, especially large-scale fraud, continues, the Interior Ministry said.

In 2013 a request for Polonsky's extradition to Russia was sent to relevant authorities of Cambodia, the press office said. "As of now, an official response on the results of the consideration of the extradition issue in Cambodian court has not come," the Interior Ministry said.

"The stance of investigators regarding criminal prosecution and extradition of defendant Polonsky has not changed and all possible measures stipulated by Russian and international law will be employed to this end," the press office said.

Russia insists on Polonsky's extradition despite Cambodian court ruling - source

A Russian court has ordered the arrest of businessman Sergei Polonsky in absentia, therefore Russian law enforcement authorities will continue insisting upon his extradition in spite of the Cambodian court ruling, a source from Russian law enforcement authorities told. Read more>>>

The information in this section is provided by the Interfax news agency and is intended for personal use only. It may not be reproduced or distributed in any form without express permission from Interfax. To request permission to republish, email: