MOSCOW - The badly-beaten body of a Russian politician was found in a barrel full of cement, in what investigators said they believe was a murder ordered over an $80 million debt.

Mikhail Pakhomov was a city council member in Lipetsk, a city about five hours south of Moscow. He had been missing since February 12, when authorities believe he was kidnapped.

"The nature of the injures permits the conclusion that he was murdered," Russia's investigative committee told the Interfax news agency on Monday.

The barrel was reportedly discovered in a garage on Sunday night. Police did not say who owned the property.

According to RIA Novosti, authorities have detained eight people suspected of being involved.

The alleged mastermind is reportedly Yevgeny Kharitonov, a former Moscow regional official, to whom Pakhomov is believed to have owed money. The Associated Press said the amount was over $80 million. The Moscow Times reports Kharitonov was arrested as he boarded a domestic flight at a Moscow airport.