The Tverskoy Court of Moscow on Friday arrested one of the founders and former CEO of Petropavlovsk Plc, Pavel Maslovsky, on embezzlement charges, the court's spokeswoman Olga Bondareva told Sputnik
MOSCOW (Pakistan Point News / Sputnik - 25th December, 2020) The Tverskoy Court of Moscow on Friday arrested one of the founders and former CEO of Petropavlovsk Plc, Pavel Maslovsky, on embezzlement charges, the court's spokeswoman Olga Bondareva told Sputnik.
"The court supported the investigator's petition to impose a preventive measure against Maslovsky in the form of detention," Bondareva said, adding that he would be jailed until at least 23 February.
According to the court, Maslovsky was charged under Part 4 of Article 160 of the Russian Criminal Code (misappropriation or embezzlement), which provides for penalty of up to 10 years in prison.
Petropavlovsk Plc is one of Russia's largest gold miners. Maslovsky was detained on Thursday in the office, which was also searched. The company declined to comment on the searches. According to representatives of the company, Petropavlovsk did not see the materials of the case, but, probably, they concern "people who now do not hold any positions in the company."
Another corporate conflict in Petropavlovsk began after a new major shareholder, Yuzhuralzoloto, emerged early this year. During the annual meeting in June, the four largest shareholders did not support the previous composition of the board of directors, which included Maslovsky. They also initiated an independent investigation of a number of transactions over the past three years, when Maslovsky served as the company's CEO, after which he was detained.
The company is registered in the United Kingdom, its headquarters is located in London, the group has offices in Moscow and Blagoveshchensk, and its main assets are in Russia's Amur Region.
