Police in Moscow have announced they will look into the 2011 contract under which Sberbank invested $20 million to bankroll the creation of a new web portal called PublicPost.

The now-defunct venture was a partnership between Venediktov, Sberbank, and the state-owned Interfax news agency.

According to Oleg Mitvol, the leader of the Green Alliance-People’s Party and the man who requested the probe earlier this year, the money was paid to a firm owned by Venediktov.

Mitvol, a Sberbank shareholder, claims the deal was shady and caused financial damage to the bank. He also accuses the journalist of pocketing about half the sum disbursed by Sberbank.

«I would like to stress the effectiveness with which he squandered about $10 million on banquets and exorbitant salaries for his employees,» Mitvol told the «Izvestia» daily on May 27. «I think a criminal case will soon follow.»

Aleksandr Sidyakin, a combative lawmaker who heads the ruling United Russia party’s faction in parliament, has thrown his weight behind Mitvol’s initial calls for a probe.

He says he formally asked prosecutors to investigate the deal between Sberbank and Venediktov’s firm.

PublicPost, which offered a mix of original reporting and user-submitted posts, abruptly shut down in July 2013.

Accusations Of Foul Play

At the time, its editor Natalya Konradova had posted a statement on her Facebook account describing the closure as politically motivated retaliation for an item posted on the website. She did not elaborate.

Both Venediktov and Sberbank have remained tight-lipped on the accusations surrounding PublicPost’s finances. On Twitter, Venediktov issued a brief, laconic statement. «The green leader is hoping for something. Ha Ha Ha,» he tweeted on May 27.