Estonian daily Eesti Ekspress reported Thursday that a Finnish businessman, the main owner of an Estonian bakery that declared insolvency in 2008, had been charged with fraud in the US.

The paper added that the man, arrested in Chicago last autumn, together with other suspects had been charged with giving false information to US Overseas Private Investment Corporation (OPIC), which granted the bakery project an eight-million-dollar loan.

Eesti Ekspress also reported that the US indictment included money laundering charges.

STT