Naftogaz ex-head charged with embezzling $12 mln from Metalloinvest Limited - source

Russian investigators have charged Igor Bakay, the former head of Ukraine's national oil and gas company Naftogaz, with embezzling $12 million from the company Metalloinvest Limited, a well-informed source told Interfax on Tuesday.

"Bakay is being charged with embezzling $12 million from Metalloinvest Limited through a loan agreement together with individuals who have not been identified so far," the source said.