Karachay-Cherkessian minister punished for concealing 150 million rubles of income

The Minister of Industry and Energy of Karachay-Cherkessia has been disciplined for providing unreliable information about his income and assets, head of the department of General Prosecutor’s Office in the North Caucasus Federal District Alexei Tsukanov said.

" Minister of Industry and Energy of Karachay-Cherkessia Valery Ksalov was disciplined; he provided false information on the income, assets and obligations of a civil servant and violated prohibitions established by law for this category of people,” Tsukanov said.

Ksalov was not only engaged in business; he also "concealed the income derived from it and his own shares. Meanwhile, profits of enterprises belonging to him for the year 2011 alone amounted to more than 155 million rubles."

Ksalov was reprimanded, and he continues to work in his office, the General Prosecutor’s Office in the North Caucasus Federal District explained.

"Right now, he is not the owner of these businesses,” "Interfax" quotes the representative of the General Prosecutor.