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Chechen Owner of Swiss Soccer Club Arrested Amid Bankruptcy Probe

Bulat Chagaev, the Chechen owner of Swiss soccer club Neuchatel Xamax
Prosecutors in Switzerland say they have arrested the Chechen owner of a Swiss soccer club after the team filed for bankruptcy.

The provisional arrest of Bulat Chagaev, owner of the Neuchatel Xamax soccer club, was ordered after a court hearing on January 26 in Geneva.

Chagaev was taken into custody by Geneva cantonal prosecutor Yves Bertossa.

Another hearing is scheduled in his case for January 27.

Chagaev has been the target of two criminal inquiries into alleged forgery of a Bank of America document that was submitted to the team's bankruptcy hearing three months ago.

Bertossa has been quoted as saying investigations of Chagaev also concerned possible money-laundering offenses.

Chagaev, 51, bought the team in May 2011 from its former president Sylvio Bernasconi for an estimated one million euros.

Other accusations against Chagaev include failure to pay his players for several months and failure to settle payroll taxes.

compiled from agency reports