Tech Billionaire Pavel Durov Under Formal Investigation in France

French judges have placed Russian-born tech billionaire Pavel Durov under formal investigation due to an inquiry into his messaging app Telegram's involvement in organized crime. Durov, who has been granted bail with a €5 million deposit, must check in with police twice a week and cannot leave France.

French investigative judges have formally placed Russian-born tech billionaire Pavel Durov under investigation after holding him for four days in custody. This move is part of a probe into his messaging app Telegram's alleged role in organized crime, according to the Paris prosecutor.

Being under formal investigation in France does not imply guilt or necessarily lead to trial but indicates judicial authorities find the case substantial enough to continue the probe.

Durov has been granted bail, provided he pays a €5 million ($5.56 million) deposit. Additionally, he is required to sign in with the police twice weekly and is barred from leaving France. (Exchange rate: $1 = 0.8997 euros)