IDGC of the North Caucasus revealed theft of 25 million rubles

The former management of the Interregional Distribution Grid Company of the North Caucasus (IDGC of the North Caucasus) is suspected of fraud, the damage from which amounts to about 25 million rubles, reports the press service of the GUMVD for the Stavropol Territory.

“The newly appointed management of IDGC of the North Caucasus OJSC carried out an inspection of the financial and economic activities of the enterprise, as a result of which the illegal activities of the previous management of the company, dismissed in November 2011, were revealed. The preliminary damage caused to the company amounted to 25 million rubles,” - the department said in a statement.

A criminal case was initiated under Part 4 of Article 159 of the Criminal Code (“Fraud committed on an especially large scale”). The article provides for punishment of up to 10 years in prison.

Previously, the investigation opened criminal cases against a number of former managers of IDGC of the North Caucasus OJSC, who could have appropriated the property of energy sales companies in the region.

IDGC of the North Caucasus OJSC provides electricity transmission through its owned networks with voltages from 110 to 0.4 kV in the territory of Dagestan, Ingushetia, North Ossetia, Stavropol Territory, Kabardino-Balkaria, Karachay-Cherkess Republics.

In mid-December 2011, Vladimir Putin, who was then Prime Minister, held a devastating meeting on the electric power industry, accusing, among other things, the top managers of IDGC of affiliation with other organizations and money laundering through “gray schemes.”

By the end of the same month, Deputy Prime Minister Igor Sechin reported on the dismissal of a number of top managers of energy companies, including the head of IDGC of the North Caucasus Magomed Kaitov, as well as on the initiation of a number of criminal cases.