Former head of North Caucasus MRSK arrested for embezzlement of 4 billion rubles

Former head of North Caucasus MRSK arrested for embezzlement of 4 billion rubles

The former Director General of the North Caucasus MRSC has been detained as part of a criminal investigation into embezzlement amounting to 4 billion rubles, the Interior Ministry reports on Thursday.According to the Interior Ministry, from 2007-2011 the company concluded a number of contracts with the Yurenergokonsalt company collecting payments from electricity consumers. However, the collected funds were transferred to the account of the company only partially. Some funds were transferred to the accounts of Moscow firms and spent on the purchase of securities, real estate and shares in various companies.The former Director General of the North Caucasus MRSC has been detained as part of a criminal investigation into embezzlement amounting to 4 billion rubles, the Interior Ministry reports on Thursday.

According to the Interior Ministry, from 2007-2011 the company concluded a number of contracts with the Yurenergokonsalt company collecting payments from electricity consumers. However, the collected funds were transferred to the account of the company only partially. Some funds were transferred to the accounts of Moscow firms and spent on the purchase of securities, real estate and shares in various companies.

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