Latvian law enforcement agencies have arrested the owner of the Miel real estate agency at the request of Russian prosecutors, the Vedomosti newspaper reported Friday.
Grigory Kulikov, owner of one of the largest real estate firms in the Russian market, was detained in the Latvian city of Jurmala on May 8. His extradition to Russia is now being discussed, Vedomosti reported, citing an unidentified source in the Russian Prosecutor General's Office.
Kulikov has been accused of fraud during the construction of the Barvikha Village project in Rublyovka, a prestigious suburb in southwest Moscow. Prosecutors allege that Kulikov stole investors' funds worth 85 million rubles ($1.2 million) between 2007 and 2008 before he fled abroad.
The criminal investigation into the case has been ongoing for the past four years. The businessman was declared wanted by Interpol in September 2015, six months after a warrant was issued by Russian law enforcement.