An investigation into whether Russian tycoon Mikhail Fridman artificially lowered the share price of supermarket chain Dia before buying the Company is underway.
Spain’s top criminal court confirmed yesterday it’s opening a full investigation.
Fridman appeared in a Madrid court on Monday as part of a separate but similar case, in which Judges are also investigating allegations he acted to bring down the value of another Spanish takeover target, digital entertainment firm Zed Worldwide.
Fridman denied all charges in that case in a statement released after he was questioned in court.
The Russian tycoon, who reportedly has connections to the Kremlin and was listed by Forbes this year as London’s richest resident, is also one of the founders of Alfa-Bank, Russia’s largest privately-held Bank.