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U.S. Busts Up Alleged Russian Spy Ring

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10/03/2012 08:51 PM
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U.S. Busts Up Alleged Russian Spy Ring
Eleven members of an alleged secret Russian military procurement network have been charged in the United States with illegally shipping sophisticated microelectronics to Russian military and intelligence agencies, according to a federal indictment unsealed in US District Court on Wednesday.

The US FBI arrested the alleged ringleader, 46-year-old Alexander Fishenko, and seven others Tuesday night and Wednesday morning. They also executed search warrants at seven residences and business locations and seized assets from five bank accounts.

The US Department of Justice says it believes three other suspects who are still at-large are back in Russia.

The indictment charges that since 2008, Fishenko has been running an elaborate scheme that tricked US customs agents into believing that his company – Houston-based Arc Electronics, Inc. -- was manufacturing and shipping routine products to Russia.

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