BitRiver Founder Igor Runets Moved to Pretrial Detention in $12M Fraud Case

BitRiver founder Igor Runets has been transferred from house arrest to pretrial detention in a $12.5 million fraud case, Russian authorities announced on July 29. The court ruling came after prosecutors alleged that Runets caused significant financial losses to En+, a Russian energy and metals group.

The case centers around an undelivered contract for prepaid crypto mining equipment, with investigators claiming that the funds were not returned after the contract was left unfulfilled. Prosecutors are pursuing charges under Part 4 of Article 159 of the Russian Criminal Code, which covers large-scale fraud allegedly committed by an organized group.

En+, a subsidiary of En+ Group, reportedly suffered close to 1 billion rubles ($12.5 million) in damages due to the alleged scam. The court accepted the request for stricter custody measures, citing concerns that Runets could influence witnesses if he remained outside detention.

The latest development follows earlier legal trouble for Runets in 2026, when authorities arrested him on suspicion of concealing assets meant to cover tax debts. BitRiver's parent company, Fox Group, has also faced financial pressure after a Russian court placed the company under bankruptcy monitoring due to an unresolved debt of around $9.2 million.