Russia’s Renova says ready to cooperate with investigators

MOSCOW, Sep 12 (PRIME) -- Russian multi-industry holding Renova Group is ready to cooperate with investigators under a criminal case against Yevgeny Olkhovik, a shareholder of the group and chairman of power producer T Plus’ board of directors, and T Plus CEO Boris Vainzikher, the company said in a statement Monday.

On September 7, Russia’s Syktyvkar City Court arrested Olkhovik and Vainzikher for two months over a bribery case in the Komi Republic.

“Renova Group is aimed at constructive cooperation with law enforcement authorities that are investigating the criminal case…The group’s specialists have prepared a detailed analysis of aspects of activity of T Plus in 16 regions of Russia and in particular, in the Komi Republic, including its relations with federal, republican and municipal authorities,” Renova said.

According to the Investigative Committee’s official representative Vladimir Markin, in 2007–2014, the former and current top executives of IES Holding, which has been reorganized into T Plus, gave bribes to officials in the Komi Republic for setting the best prices for heat and electric power and providing other incentives. The total sum of bribes exceeded 800 million rubles and a criminal case had been opened.

Mikhail Slobodin, former CEO of mobile operator VimpelCom, who is also involved in the bribery case, was put on the federal wanted list upon a request of the Investigative Committee.

(64.1617 rubles – U.S. $1)

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