A reputed Russian organized crime figure long sought in a 1990s fraud case involving a Philadelphia-area company has been placed on the FBI's ten most wanted list.
The FBI said Thursday that 63-year-old Semyon Mogilevich is wanted for alleged involvement in racketeering, fraud, and money laundering. Authorities consider him armed and dangerous.
Federal authorities in 2003 accused the Ukrainian-born Russian citizen of a massive scheme to defraud thousands of investors in the stock of YBM Magnex, headquartered in Newtown, Bucks County. Authorities say investors lost more than $150 million before trading of company stock was suspended in May 1998.
In July, Mogilevich was released from pretrial detention in Moscow, 18 months after his arrest on tax evasion charges.
Source: Philly
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