‘Is this 1931 Soviet Union?’ Russia jails prominent U.S.-born investor August Meyer pending trial for fraud

A St. Petersburg court has jailed prominent investor August Meyer for two months pending trial for fraud. Meyer, a U.S.-born businessman who now holds Russian citizenship, is the owner of the beauty chain Rive Gauche and co-owner of the online retailer Ulmart. He stands accused of two counts of fraud totaling 2.4 billion rubles ($32.6 million). Meyer’s wife, Inna, is also a suspect in the case and was placed under house arrest. Speaking in court, in English (see the video below), Meyer recounted coming under pressure from Russian investigators. Allegedly, he was told that if he plead guilty, the authorities would release his wife. “Is it appropriate to hold a wife hostage?” Meyer asked. “Is this 1931 Soviet Union?”