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Probe into RusHydro Starts

Police in the North Caucasus republic Karachayevo-Cherkessia have opened a criminal investigation into allegations that the head of a local hydroelectric company stole 340 million rubles ($11 million) worth of property from its parent company, state-owned Rushydro.

Investigators say Grigor Saratikyan, director of the Karachayevo-Cherkessia Hydro-Generating Company, a Rushydro subsidiary, illegally registered land and part of a Rushydro hydroelectric station under construction to himself in 2012.

Saratikyan then tried to sell the property back to Rushydro for 340 million rubles, police said in an online statement on Thursday.


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