The Russian authorities is making an attempt to grab a gold mining agency owned by a billionaire accused of breaking a rule that bans public officers from partaking in entrepreneurial exercise.
The Russian Prosecutor Normal’s Workplace has filed a lawsuit to grab shares of billionaire Konstantin Strukov’s gold mining firm, Yuzhuralzoloto, state-owned media Tass studies.
Strukov, who has been a deputy of the Legislative Meeting of the Chelyabinsk Area for 25 years, whereas additionally the deputy chairman of the Legislative Meeting, acquired the agency by means of a chapter process. He was additionally the corporate’s CEO between 1997 and June 2001 earlier than he grew to become chairman of the board of administrators.
The federal government’s lawsuit alleges that Strukov violated a ban on all public officers from partaking in enterprise exercise.
The rule additionally requires politicians to promote all their securities, shares, or stakes in firms earlier than taking workplace.
In keeping with Tass, Yuzhuralzoloto produces over 450,000 ounces of gold per 12 months, which is $1.505 billion yearly with a revenue of 34 billion rubles – $432.43 million.
Prosecutors allege that Strukov continuously takes income from the mine and transfers them overseas to Montenegro, Belgium, Switzerland, Luxembourg, Latvia, Estonia and Turkey the place he and his household bought homes, yachts and different luxurious objects.
The Russian authorities is requesting that 100% of Strukov and his daughter’s possession of the corporate be transferred to the state.
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