“Cambodia and Russia do not have an extradition treaty, so Cambodia cannot send Polonsky back to Russia,” the verdict read by Judge Kim Sothavy said.
Polonsky, 41, was charged in absentia in July 2012 as part of a criminal case involving the embezzlement of over $175 million from the participants in an up-market cooperative residential project in central Moscow, Xinhua reported.
The Cambodian authorities arrested him last November at Russia’s request, but released him on bail in January.
Polonsky was ranked Russia’s 40th richest man in 2008 with a fortune of $4.35 billion by Forbes magazine. Polonsky headed the Mirax Group, a large property development company that went bankrupt during the global economic crisis.