The charges against Storchak, who was responsible for overseeing negotiations with debtor countries for the Foreign Ministry prior to his arrest on Nov. 15, stem from allegations that he and three accomplices attempted to defraud the federal budget out of $43.4 million.
Investigators say Storchak, Sodexim head Viktor Zakharov and two bankers from Interregional Investment Bank channeled money to Sodexim disguised as compensation for losses the company suffered because of Russia's decision to write off Algerian debt.
If convicted, Storchak faces a prison sentence of up to 10 years.
Zakharov and Vadim Volkov, president of Interregional Investment Bank, were also charged. The second official from the bank, Igor Kruglyakov, was released for medical reasons last month after promising not to leave Moscow.
The Storchak case has been widely seen as the byproduct of a government power struggle between the so-called St. Petersburg economists, led by Finance Minster Alexei Kudrin, and the siloviki ?€” officials within or with close ties to security and law enforcement agencies.
Storchak's lawyer, Andrei Romashov, said the final version of the charges filed did not specify a figure for the amount of funds allegedly stolen.
"How can they charge him with fraud without these figures," he said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.