OWNER OF THE CHELYABINSK TUBE ROLLING PLANT IS CHARGED WITH COMMERCIAL BRIBERY
The Main Investigation Department of the Russian Investigation Committee has charged the beneficiary and a member of the Board of Directors of the JSC "Chelyabinsk Tube Rolling Plant", Mr Andrei Komarov, along with his legal counsel Mr Alexander Shibanov. Both are charged with commercial bribery.
According to investigators, Federal State Company "Promresurs", which conducted inspections of the plant, revealed numerous violations which allowed them to receive a financial benefit of allegedly 2 billion rubles (approximately US$56 million). The accused were going to transfer the illegal cash consideration of US$300,000 to a federal state company's officer with in order to hide violations and falsify the inspection report.
The investigation and search operation is currently undergoing. If found guilty, the accused may face imprisonment for up to 6 years or a fine of 40 to 70 times the amount of the bribe.
INVESTIGATION COMMITTEE WANTS TO CRIMINALISE VIOLATION OF STRATEGIC COMPANIES ACQUISITION RULES
Kommersant newspaper has reported that the Investigation Committee of Russia is preparing a draft law criminalising violations made in order to circumvent strategic companies acquisition rules. Specific sanctions are being discussed.
Strategic companies are those operating in certain areas indicated in Federal Law No. 57-FZ dated 29 April 2008. Control over strategic companies is under special protection: in order to acquire a stake in such companies a foreign investor must undergo certain procedures. Some experts say these procedures already guarantee there will be no violations during such acquisitions, but apparently this is not the position of the Investigation Committee.