Billionaire Kustov Arrested Alongside Efko Executives and Senior Trade Official

July 30, 2026 Valery Kustov. ruwiki.ru Valery Kustov, founder and majority shareholder of major Russian agribusiness group Efko, has been arrested in Moscow in connection with a fraud investigation alongside several of the company’s executives and a senior Industry and Trade Ministry official, Russian media reported Thursday. Moscow’s Meshchansky District Court ordered the arrest of Efko’s director of strategic development, Vladislav Romantsev, and deputy development director Ekaterina Kustova. Both were placed in pre-trial detention on fraud charges. In a statement, the company confirmed the arrest of several employees, naming only Vladislav Romantsev. Alla Polovchenya, who serves as deputy head of the Industry and Trade Ministry’s department of unmanned systems and robotics, was arrested alongside Romantsev and Kustova, according to media reports. Polovchenya was placed in pre-trial detention on charges of embezzlement. Kustov is a Forbes-listed billionaire with an estimated net worth of around $1.1 billion. His Efko group owns a number of popular consumer food brands in Russia, including the Sloboda line of mayonnaise, ketchups and sunflower oils, as well as the Altero oil brand. The arrests are connected to a criminal investigation into the company Transportation of the Future, which develops unmanned aerial systems, according to Kommersant and RBC. Transportation of the Future originally launched as an internal venture backed by Efko board members before spinning off into an independent drone developer, Kommersant reported. In May, a Belgorod region court placed Yury Kozarenko, the former head of Transportation of the Future, in pre-trial detention on fraud charges. Kozarenko started his career at Efko in 2012 before taking charge of Transportation of the Future in 2022. President Vladimir Putin toured the company’s research and manufacturing center in the city of Tolyatti in January 2025. The Industry and Trade Ministry’s department of unmanned systems and robotics was established in early 2024 to coordinate civilian and defense procurement under a national drone initiative launched by the Russian federal government. Read more about: Court cases , Drones , Industry and Trade Ministry , Agriculture , Billionaires Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Russian State Prosecutors Seek Forfeiture of Jailed Billionaire’s Assets Vadim Moshkovich is the first Forbes-listed billionaire to be arrested after Russia’s full-scale invasion of Ukraine. 1 Min read St. Petersburg Court Places Woman in Pre-Trial Detention for Attempted Murder of Drone Company Employee Law enforcement officials arrested the woman last week after she allegedly tried but failed to place an explosive device under the employee’s car. 1 Min read Sanctioned Russian Billionaire Arrested on Fraud Charges – State Media The arrest of Rusagro founder Vadim Moshkovich marks the highest-profile fraud case against a business leader since the invasion of Ukraine. 2 Min read Russian Firm to Make 'Agricultural' Drones in Uzbekistan A local official said the drones were designed for "agricultural" purposes only. 1 Min read