A Russian tycoon who bought former Rangers owner Craig Whyte’s Highland castle is to stand trial over an alleged £8million fraud.
Sergey Fedotov, who purchased Castle Grant near Grantown-on-Spey in Moray for £1million, is being held in custody in Moscow.
The 42-year-old businessman has already served six months in prison for a £3.6million property fraud committed while head of the Russian Authors’ Society.
He has now been accused of embezzling £8million worth of funds from the organisation, which collects royalty payments on behalf of writers.
Fedotov bought the 16th century A-listed pile in 2014 after it was repossessed from Whyte when he failed to keep up with mortgage payments.
The new charges alleges that he conspired with four others to transfer authors’ royalty payments into fake accounts and then withdrew the money.
At a recent hearing in Moscow, he was told he will remain in custody until October trial.
Fedotov spent thousands refurbishing Castle Grant after it fell into disrepair during Whyte’s ownership.
He installed modern en-suite bathrooms and a fitted kitchen.
The grand property, which is set in 35 acres, also boasts a ballroom, drawing room and billiard room.
Fedotov put it up for sale for offers over £850,000 in 2018 but it has since been taken off
the market.
