News

Murmansk Region investigating bodies of the Russia’s Investigative Committee have initiated one more criminal case against Gennady Shubin, former advisor of Murmansk Region ex-governor. He is suspected of a crime under part 4 of article 160 of the RF Criminal Code (embezzling in an especially large scale).

According to investigators, in the period between 18 February 2009 and 12 February 2013, Gennady Shubin, being CEO, member of the board of directors and actual owner of Kolenergosbyt (OJSC), using his official position and having powers to dispose of the money of Kolenergosbyt, acting with mercenary interest and together with unknown persons embezzled the funds of resource supplying companies OAO OGK-2 (OJSC), OAO RusGidro (OJSC), OOO Bashkir Generating Company (LLC), OAO Inter RAO YES (OJSC), OAO Generating Company (OJSC), OOO Lukoil – Rostovenergo, OAO Concern Rosenergoatom supplying electric power. During the above-mentioned period of time Shubin, acting together with unknown persons, transferred the money received from the buyers of the power, which were to have been paid to the above-mentioned resource supplying companies, as loans to the settlement accounts of the companies under his control and later used the funds to his own ends.

As a result of Shubin’s actions the above-mentioned commercial organizations suffered damage of no less than 21 million rubles.

Investigating and search operations are underway to collect and consolidate evidence. Investigation is ongoing.