In March 2013, Maksim Bakiev, a son of former Kyrgyz President Kurmanbek Bakiev, has been sentenced in absentia to 25 years in prison. He was found guilty of making illegal land purchases and brokering a corrupt deal for an electric power company’s shares. It is suspected that he transferred about $35 million of a $300 million loan from Russia into his private bank accounts. He was initially arrested in London in 2010 on charges of conspiracy to defraud and conspiracy to pervert the course of justice in a U.S. case. In May 2013, the U.S. criminal securities fraud case against Maksim Bakiyev has been dismissed without giving an explanation.