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Investigators insist on arrest of former Izhmash director

April 11, 2013, 12:57 UTC+3

Grodetsky was charged on Wednesday evening

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MOSCOW, April 11 (Itar-Tass) - Investigators will insist on the arrest of former director of the Izhmash company Vladimir Grodetsky, accused of grand fraud, the press service of Moscow police told Itar-Tass on Thursday.

Grodetsky was charged on Wednesday evening. Moscow's Tverskoi court is due to consider the investigator's petition to put him in custody on Thursday afternoon.

Preliminary investigation ascertained that the suspect, as a member of the board of Sarapulsky Radio Manufacturing Plant, entered in criminal collusion with unidentified persons from among executives and personnel of the company in 2007 with the view of embezzling funds.

More than 35 million roubles belonging to the Sarapulsky Radio Manufacturing Plant were transferred under fictitious documents to the accounts of fly-by-night firms registered in Moscow for allegedly purchased component parts.

Following a report by the administration of the Rostekhnologii corporation, agents of the Interior Ministry’s main department for economic security and combating corruption, jointly with the Federal Security Service exposed facts of embezzlement at the Izhmash company, which is part of the corporation.

Grodetsky signed a contract to sell 100 percent of shares of the SintezProyektFinance private company for 70,000 /approximately 2,258 U.S. dollars/ roubles through a network of organizations under his control. "The real price of the building in Moscow which was property of the joint-stock company as of the time of the transaction reached over 72 million roubles /2,322,580 U.S. dollars/," the Interior Ministry said.

"The searches at the suspects' apartments and offices found documents which have significance for the probe," the Interior Ministry said.


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