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Major defense firm's shares stolen

11:27 02/05/2012

MOSCOW, May 2 - RAPSI. Investigators found that 25 percent of Klimovsk Specialized Ammunition Plant shares, one of Russia's largest ammunition manufacturers, had been embezzled, Interior Ministry's Main Department of Economic Security and Anti-Corruption reported on Wednesday.

The shares were stolen from the Federal Agency for State Property Management by former employees of the ammunition plant.

"A 48-year-old unemployed man, a previous shareholder of Klimovsk Specialized Ammunition Plant, is suspected of embezzling 25 percent of the plant's shares by submitting fake documents to the district court together with other former shareholders; he inflicted damages of over 52 million rubles to the company," the press release reads.

The individuals have been charged with a large-scale fraud and a falsification of evidences. They now face up to ten years in prison.

The suspect is currently barred from leaving the country and the investigation is looking into establishing the accomplices in the case.

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Major defense firm's shares stolen

11:27 02/05/2012 Investigators found that 25 percent of Klimovsk Specialized Ammunition Plant shares, one of Russia's largest ammunition manufacturers, had been embezzled.
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