Feds Bust Network That Sold $50M In Weapons Tech To Russia

Law360, New York (October 3, 2012, 3:16 PM EDT) -- U.S. authorities on Monday charged a Kazakhstan-born businessman of using his Houston-based business to secretly export more than $50 million worth of microelectronics for surveillance and weapons systems to Russia's military and intelligence agencies.

Alexander Fishenko, founder of Arc Electronics Inc., was one of 11 individuals named in an indictment unsealed in New York. They are accused of participating in a Russian military procurement network, the U.S. Department of Justice said in a statement.

Fishenko, 46, and seven others named in the indictment were arrested Tuesday...
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