15 July 2013, 18:34
Magomed Bilalov charged with abuse of power at the OJSC "Krasnaya Polyana"
Magomed Bilalov, a former shareholder and a former deputy chair of the Board of Directors of the Open Joint-Stock Company (OJSC) "Krasnaya Polyana", was accused in absentia of abuse of power in a commercial organization, said the Russia's MIA.
According to the MIA, Magomed Bilalov, instead of investing the funds received by the "Krasnaya Polyana" from the "Sberbank" of Russia for construction of Olympic facilities, placed them into the National Bank for Business Development at the 4-7% interest rate per annum.
Then, according to the MIA, the businessman got the money back through his affiliated companies in the form of loans, but under the 12.5% rate.
As a result of unjustified payments the OJSC "Krasnaya Polyana" suffered damage in the amount of more than 45 million roubles.
In the near future, the Investigating Department of the Russian MIA will decide on putting Bilalov on the federal and international wanted lists, as well as on the measure of restricting his freedom, the website of the MIA reports.
Let us remind you that a criminal case under abuse of power was also initiated in respect of Magomed's brother Akhmed Bilalov, the former Chairman of the Board of Directors of the OJSC "Resorts of Northern Caucasus". According to the MIA, Akhmed Bilalov is now abroad.
