Ex-head of Ukraine's State Management Office and ex-chief of Ukraine's national joint-stock company Naftogaz Ukraine Ihor Bakai has been arrested, the Kyiv-based Ukrayinska Pravda online edition has reported, citing its own sources.

According to the article, Bakai was arrested for embezzlement.

The edition also cites 1plus1 TV channel, which reports Bakai was arrested along with his assistant and bookkeeper, both of whom were released on October 31 after arraignment. Bakai remains behind bars, according to the article.

According to 1plus1 TV channel, more than ten persons have complained of being bilked out of money by Bakai, including Russian billionaire Alisher Usmanov, who reportedly lent Bakai 9 million dollars.

Bakai ran Ukraine's State Management office from October 2003 through December 2004. He fled Ukraine during the 2004 presidential election. In March 2005 he received a Russian passport and, according to Bakai, a job in Russian state structures.

In March 2010, Kyiv's Pechersky District Court closed all criminal cases involving Bakai when he was in charge of Ukraine's State Management Office.