A Russian billionaire with possible mob ties plans to buy a major stake in the company that aims to purchase Chrysler. If aluminum magnate Oleg Deripaska does buy the $1.54 billion stake in Magna International, the cash will come in handy for the Chrysler deal. But Oleg's shady past may raise flags for regulators, the Wall Street Journal reports.
The U.S. revoked Mr. Deripaska's visa last year over concerns about his possible involvement with organized crime. Chrysler sometimes works with the military, so the deal may be scrutinized by the Committee on Foreign Investment in the US. Meanwhile, Don Walker, CEO of Magna, stands by Deripaska: "He's a professional, upstanding businessman."